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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 penalties, as indicated by the … Read more
“Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right to pay them no returns at all,” said Gurbir Grewal. Go to Source Powered by WPeMatico
Several Kraken employees will reportedly remain in the Middle East and North Africa, with regional managing director Benjamin Ampen likely to leave following the transition. Go to Source Powered by WPeMatico
A leading marketplace on the dark web, Solaris, has been hit by a rival, according to crypto analytics company Elliptic. The Russia-linked platform, which tried to occupy space vacated by the busted Hydra, is believed to have conquered up to a fifth of the illicit market before the hack. Solaris Allegedly Taken Over by Darknet … Read more
This marks the second “Big 4” bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy. Go to Source Powered by WPeMatico
Many popular cryptocurrency trading platforms, including Kraken and Coinbase, have recently initiated a fresh round of firings. Go to Source Powered by WPeMatico
A Nansen in December noted that Ether staking solutions had been in high demand since Ethereum’s shift to proof-of-stake. Go to Source Powered by WPeMatico
Cryptocurrency exchange Kraken is shutting down services in Japan. The company explained that the current Japanese market conditions and a weak global crypto market do not justify the resources needed to further grow its business in Japan at this time. Kraken Exiting Japan Cryptocurrency exchange Kraken announced Wednesday that it has decided to “cease its … Read more
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao (CZ) ostensibly told SBF to … Read more
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s, … Read more
