Kraken Financial News

Despite the adverse effects of the USDC situation on various aspects of the cryptocurrency sector, centralized exchanges were able to reap significant gains during this time.

In recent years, staking services have become increasingly popular among cryptocurrency investors. Staking refers to the process of holding and locking up a certain amount of cryptocurrency in a wallet to participate in the network's consensus mechanism and earn rewards. Centralized exchanges like Coinbase and Kraken have been offering staking services to their customers as a way to generate additional revenue.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

The United States Securities and Exchange Commission (U.S. SEC) has continued to crack down on staking services offered by centralized providers. However, Coinbase has reiterated to customers that its staking services will continue, and may actually increase.

The Public Company Accounting Oversight Board’s (PCAOB) Office of the Investor Advocate recently issued an advisory for investors regarding the proof of reserve (PoR) reports by service providers, including audit firms registered with the PCAOB, to crypto entities such as exchanges and stablecoin issuers. 

Major crypto exchange Kraken is finally putting its feet into the banking waters with the new Kraken Bank. 

Silvergate Capital Corp has announced that it will suspend the Silvergate Exchange Network (SEN), its crypto payments network.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

MicroStrategy has denied any meaningful exposure to Silvergate as crypto firms who banked with the crypto bank are rushing for the exits amid concerns about its financial condition. 

Bitcoin, the world's leading cryptocurrency, has witnessed a sharp uptick in its price, surging by 2.2% in recent days. The sudden spike has reignited the discussion around Bitcoin's future trajectory and prompted investors to reassess their positions.

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Paul Grewal, the Chief Legal Officer of Coinbase, recently appeared in an episode of Unchained Podcast hosted by popular crypto influencer Laura Shin.

Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. 

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.

Crypto assets made their way onto the United States Securities and Exchange Commission’s list of priorities for 2023. So far, though, we haven’t tasted the “regulatory certainty” many have been calling for. Instead, the regulator threw the book at Kraken for allegedly failing to register its staking program. Coinbase appears next on the chopping block, but its lawyers are ready to fight.

Blockchain Association CEO Kristin Smith said in a Feb. 22 Bloomberg interview that despite the process being “extremely long” and regulators “stepping in” in the interim, the sector wants U.S. lawmakers to lead crypto legislation.

Cryptocurrency exchange Coinbase has exceeded revenue expectations for the fourth quarter of 2022, but its transaction volume continued to decline.

The staking services offered by cryptocurrency exchange Coinbase are “fundamentally different” to what was offered by its peer exchange Kraken — which recently came under fire from the United States securities regulator — according to Coinbase's head lawyer.

Cardano co-creator Charles Hoskinson has expressed his thoughts on recent regulatory actions against the crypto industry. The occasion for Hoskinson’s remarks was the introduction of the Digital Property Protection and Law Enforcement Act, a Senate bill in Illinois that has already been dubbed the most unworkable state law.

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crypto market started the week with a correction after the US-based crypto exchange, Kraken, paused its staking service and paid a fine of US$30 million to the SEC last week for failing to register the service. Bitcoin started by trading at US$22,000 level and dropped to US$21,000 before the release of the US CPI data. After the release, most cryptocurrencies rallied. Bitcoin hit its highest peak since August on Thursday. BTC traded at the US$25,250 level. However, BTC could not sustain the gains and fell back to the US$23,000 level after the PPI data release, which was higher than expected, raising concerns among investors and traders over the inflation. Whenever there is a fear of inflation, BTC falls as it does not like it. Investors run short of funds to spend when interest rates go up. Hence BTC falls. Despite the decline, BTC is up by more than 72% from its cycle’s lowest point in January.