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The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager … Read more
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold … Read more
JPMorgan, one of the biggest financial institutions in the world, estimates that the arrival of the next Ethereum upgrade, codenamed Shanghai, will bring more investors to stake their funds in the protocol. The firm believes that this number might reach 60% of the ether issued, a number already staked in other blockchain networks. JPMorgan Expects … Read more
The SEC’s move to ban staking is going to encourage more people to move toward decentralized options beyond the agency’s reach. Go to Source Powered by WPeMatico
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken CEO Jesse Powell urged Congress to pass a … Read more
“Don’t have your hand in the customer’s pocket, using their funds for your own platform,” Gary Gensler said to companies that needed to register with the SEC. Go to Source Powered by WPeMatico
The community is wondering whether delisting XRP in 2020 was due to Coinbase’s willingness to protect customers from “government overreach.” Go to Source Powered by WPeMatico
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