Clanker’s founder has declined an acquisition proposal from Rainbow for their Base token launchpad. Rainbow's CEO, Alex LaPrade, remarked that the decision is in the best interest of Clanker’s team and its holders. The article provides updates on the proposal and Rainbow's comments regarding the transaction.

Kraken has acquired the derivatives platform Small Exchange from IG Group for $100 million, enabling the launch of a U.S.-based derivatives product suite. This acquisition will enhance Kraken's regulatory compliance and market structure by integrating various trading products under CFTC oversight. The deal is part of Kraken's broader strategy to expand its operations and improve trading efficiency in the U.S. market.

Coinbase has acquired Echo, a startup that facilitates onchain capital formation, for approximately $375 million. The acquisition aims to enhance Coinbase's fundraising solutions for startups and expand its offerings to include tokenized securities and real-world assets while keeping Echo as a standalone platform.

The Stargate DAO has approved LayerZero Foundation's acquisition bid with nearly 95% support, despite last-minute competing offers from Wormhole, Axelar, and Across. LayerZero modified its original proposal to address concerns from Stargate token holders, ensuring revenue-sharing for veSTG holders post-acquisition. The deal, valued at around $120 million, is framed as a significant milestone in crypto mergers and acquisitions.