Published Feb 10, 2023
By Qredo Team
Qredo’s daily briefing gives you the visibility you need of the ever changing world of crypto to help you make the best decisions and reach your financial goals.
Kraken will be shutting down its U.S. staking services and paying a $30M fine in a settlement with the Securities and Exchange Commision (SEC). Kraken has ceased staking services in the U.S. as of Feb. 9 and has unstaked nearly all U.S. persons’ cryptoassets on its platform, with the intention to unstake ETH holdings after the Shanghai update. This comes after Coinbase’s Brian Armstrong published a tweet on the SEC’s stance on staking, citing a rumour that the SEC could ban staking altogether. Non-U.S. clients won’t be affected by this.
Meanwhile, Ethereum co-founder Joe Lubin says there’s no chance that ETH will be considered a security. He told Cointelegraph that, “there would be a tremendous outcry from not just the crypto community but different politicians and certain regulators.” In September 2022, SEC chairman, Gary Gensler, suggested that Ethereum’s transition to proof of stake might have triggered security laws for ETH.
Hotel heiress and crypto evangelist, Paris Hilton, is also set to launch her metaverse dating experience called Parisland. Launching the day before Valentine’s Day in The Sandbox, Parisland will gamify the online dating experience. Built on Polygon, The Sandbox has been a celebrity favorite with artists such as Snoop Dogg and deadmau5 investing in virtual land in its metaverse.
More news and thought leadership from Qredo