Crypto Exchanges Pivot as Kraken-Backed Startup, Rails, and WazirX Shake Up Market With $28M in Fresh Funding and Jurisdictional Moves

The cryptocurrency exchange landscape is undergoing a seismic shift as major players adapt to regulatory pressures, technological advancements, and shifting investor sentiment. In recent weeks, Kraken-backed startup Rails has launched a hybrid crypto exchange with $14M in fresh funding, while WazirX relocates to Panama after a Singapore court ruling. Meanwhile, Solana’s Layer-2 solution Solaxy goes live with a $44M raise, and speculation around an XRP ETF intensifies.

This article explores the latest developments reshaping the crypto exchange market, from jurisdictional pivots to innovative trading solutions.

Rails Launches Hybrid Exchange with $14M Funding: A New Contender Emerges

Backed by Kraken and Slow Ventures, Rails has entered the crypto exchange arena with a unique hybrid model—combining centralized execution speed with decentralized custody. The platform raised $14 million in its latest funding round, positioning itself as a potential successor to defunct giants like FTX.

Why Rails Stands Out

• Hybrid Model: Offers centralized trading speeds while ensuring users retain control of their assets via on-chain custody.
• Institutional Backing: Supported by Kraken and Sam Lessin’s Slow Ventures.
• Perps-First Approach: Focuses on perpetual futures trading, catering to derivatives traders seeking efficiency.

With FTX’s collapse still fresh in traders' minds, Rails aims to restore trust by prioritizing transparency and security—a key differentiator in today’s market.

WazirX Exits Singapore for Panama After Court Rejects Restructuring Plan

In a dramatic turn of events, India-focused exchange WazirX has relocated its parent company to Panama, rebranding as Zensui. This move follows a Singapore court’s rejection of its restructuring proposal after discovering the company had already shifted operations without disclosure.

Key Implications of WazirX’s Move

• Regulatory Evasion?: Critics argue the relocation is an attempt to bypass strict Indian and Singaporean regulations.
• Rebranding Strategy: The new entity, Zensui, may signal a broader pivot toward global markets.
• User Trust Concerns: Sudden jurisdictional shifts could unsettle existing customers wary of regulatory arbitrage.

This development underscores the growing challenges exchanges face in balancing compliance with operational flexibility.

Solana’s Layer-2 Solution Solaxy Goes Live: Can It Reignite SOL’s Rally?

Solana’s first major Layer-2 network, Solaxy, has launched its testnet after raising $44 million in presale funding. Analysts speculate whether this could be the catalyst for SOL reclaiming its all-time high near $295.

What Solaxy Brings to Solana

• Scalability Boost: Aims to reduce congestion and lower transaction costs on Solana’s mainnet.
• Final Presale Phase: Retail investors still have a limited window to participate before full deployment.
• Ecosystem Growth: Could attract more DeFi and NFT projects seeking faster, cheaper transactions.

If successful, Solaxy may solidify Solana’s position as a top Ethereum competitor in 2025.

XRP ETF Hype Intensifies: Polymarket Predicts 93% Approval Odds

Speculation around an XRP ETF has surged after Polymarket traders assigned a 93% probability of approval by year-end. This optimism follows similar movements around Bitcoin and Ethereum ETFs earlier in 2024.

Why an XRP ETF Could Be Game-Changing

• Regulatory Clarity: Ripple’s partial legal victory against the SEC last year improved XRP’s standing.
• Institutional Demand: A spot ETF would open doors for major capital inflows into XRP.
• Market Sentiment Shift: Traders are increasingly bullish on altcoin ETFs after Bitcoin’s success.

While nothing is guaranteed, the high approval odds suggest growing confidence in XRP’s legitimacy as an investment asset.

Zebec Network (ZBCN) Price Dips—But Fundamentals Stay Strong

After surging to record highs last week, Zebec Network’s token (ZBCN) has corrected by over 40%, dropping to $0.0041. Despite the pullback, analysts highlight strong fundamentals:

Reasons Zebec Could Rebound

• Real-World Utility: Focuses on decentralized payroll and streaming payments.
• Strategic Partnerships: Continues expanding integrations within DeFi ecosystems.
• Long-Term Vision: Unlike meme coins, Zebec targets sustainable adoption in fintech.

For investors, this dip may present a buying opportunity before the next upward cycle.

Shiba Inu (SHIB) Warning: Coinbase Users Alerted to New Threat

A new security concern has emerged for Shiba Inu (SHIB) holders on Coinbase—details remain scarce, but community warnings suggest potential phishing or smart contract risks. Users are advised to:

• Enable two-factor authentication (2FA).
• Avoid clicking suspicious links related to SHIB rewards or airdrops.
• Monitor official Coinbase announcements for updates.

As meme coins remain popular targets for scams, vigilance is critical for SHIB investors.

10 Meme Coins to Watch in June 2025: The Next Viral Trends?

While major exchanges evolve, meme coins continue capturing retail interest. Here are some trending tokens this month:

1. Dogecoin (DOGE) – Still the king of memecoins despite volatility.
2. Shiba Inu (SHIB) – Ecosystem expanding with Shibarium L2 growth.
3. Pepe (PEPE) – Resurging with new exchange listings.
4. Bonk (BONK) – Solana-based meme coin gaining traction again.
5. Floki (FLOKI) – Expanding into metaverse and DeFi projects.
6. Wojak (WOJAK) – New contender with strong community backing.
7. Memecoin (MEME) – By 9GAG founders; blending NFTs + memes.
8. Turbo (TURBO) – AI-generated meme coin experiment still active.
9. HarryPotterObamaSonic10Inu ($BITCOIN) – Absurd name but rising volume?
10. Based Brett (BRETT) – Base Chain’s unofficial mascot gaining steam?

Investors should tread carefully—while some meme coins surge unpredictably, many fade just as fast!

Conclusion: A Dynamic Crypto Exchange Market Ahead

The crypto industry is witnessing rapid transformation:

• Rails introduces hybrid trading with $14M backing from Kraken and Slow Ventures.
• WazirX exits Singapore for Panama amid legal hurdles—raising questions about regulatory strategy shifts among exchanges globally!
• Solaxy boosts Solana scalability while XRP ETF rumors heat up institutional interest further!

Meanwhile meme coins keep buzzing alongside security warnings like those affecting SHIB holders today—proving once again how fast-paced cryptocurrency markets remain even now post-Bitcoin halving era unfolds ahead...

Stay tuned—the next big move could come from anywhere at any time!

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