Cryptocurrency Analysis and News Portal
Kraken has agreed to shut its cryptocurrency-staking operations to settle charges with the U.S. Securities and Exchange Commission (SEC), according to an industry source briefed on the matter. Source
Read More
Staking, the process of locking native blockchain tokens to secure the network and receive rewards, has become a major business line for centralized exchanges looking to diversify their revenue streams away from transaction fees. Coinbase is the second-largest ETH staker, though competitors like Kraken and Binance have moved into the
Read More
Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.” Coinbase
Read More
The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 9 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
Read More
The value of staked assets was about $42 billion in the fourth quarter of 2022, with annualized staking rewards of $3 billion, according to a report from Staked, a non-custodial staking service provider. That figure was not limited to just retail investors. Source
Read More
The SEC has declined to comment on rumors that it intends to classify tokens that allow staking as securities. Source
Read More
"I hope that's not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen," Brian Armstrong tweeted Wednesday. Source
Read More
The SEC is in the late stages of an investigation of the company's possible sale of unregistered securities, according to the story. Source
Read More
“The tokens’ value is driven by market forces, not managerial efforts – as evidenced by the fact that the tokens are almost all functional (i.e., they can operate without any centralized intermediary) and that each experiences wide price fluctuations, regardless of the status of the underlying platform,” according to the
Read More
Summary: Gary Gensler’s SEC rejected Grayscale’s Bitcoin exchange-traded fund application citing fraud and market manipulation concerns.The digital asset manager sought regulatory permission to switch its BTC spot trust index to an ETF, changing the product’s structure and reducing a huge discount on the asset.CEO Michael Sonnenshein promised his company would
Read More