Cryptocurrency Analysis and News Portal
United States Securities and Exchange Commission chair Gary Gensler issued a warning to crypto companies to “come in and follow the law” after the agency announced a settlement with crypto exchange Kraken.Appearing on CNBC’s ‘Squawk Box’ on Feb. 10, Gensler said crypto exchanges should register with the SEC in order
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“330 million Americans are our clients,” Gensler replied. “Kraken knew how to register, others know how to register, it's just a form on our website… And if they want to offer staking, we're neutral, come in register because investors need that disclosure.” Source
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Lido and Rocket Pool didn’t immediately see a massive rush in of capital after Kraken announced it had settled with the SEC. Source
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Amid Coinbase cryptocurrency exchange standing up for crypto staking and economic freedom, the online community has urged the company to support XRP as well.On Feb. 9, Coinbase’s chief legal officer Paul Grewal claimed that Coinbase's staking program is not affected by rival exchange Kraken shutting down its staking services. The
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Ethereum’s native token, Ether (ETH), saw its worst daily performance of the year as the United States Securities and Exchange Commission (SEC) stopped Kraken, a cryptocurrency exchange, from offering crypto staking services.On Feb. 9, Kraken agreed to pay $30 million to settle the SEC’s allegation that it broke securities rules
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Ether, the second largest crypto by market cap, behaved similarly, dropping from its previous support comfortably above $1,600 to about $1,546, a 6.6% decline from Wednesday same time, that was part of a wider market downswing. The drop-off after a five-week spike began after Coinbase CEO Brian Armstrong tweeted Wednesday
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Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million in disgorgement, prejudgment interest, and civil
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According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking solution for Ethereum, Rocket Pool
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Staking is the consensus mechanism to validate transactions for proof-of-stake blockchains, including Ethereum, which also offers a way for investors to earn yield on their digital asset holdings. However, the SEC has been vocal about its concerns that staking services are the equivalent of unregistered securities according to present regulations. Original
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Cryptocurrency exchange Kraken has reached an agreement with the United States Securities and Exchange Commission to stop offering staking services or programs.In a Feb. 9 announcement, the SEC said it had charged Kraken with “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which the commission
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