Image default

First Mover Americas: Kraken’s SEC Settlement Sends Crypto Markets Tumbling

Facebook iconLinkedin iconTwitter iconConsensus 2023 LogoJoin the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Secure Your SeatFacebook iconLinkedin iconTwitter iconConsensus 2023 LogoJoin the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Secure Your Seat

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.

Latest Prices CoinDesk Market Index (CMI) 1,037 −56.3 5.2% Bitcoin (BTC) $21,763 −909.0 4.0% Ethereum (ETH) $1,539 −93.3 5.7% S&P 500 futures 4,065.50 −26.3 0.6% FTSE 100 7,855.15 −56.1 0.7% Treasury Yield 10 Years 3.68% 0.0 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC) Top Stories

Crypto exchange Kraken will immediately end its crypto staking-as-a-service platform for U.S. customers and pay $30 million to settle Securities and Exchange Commission (SEC) charges concerning the offering of unregistered securities. The SEC’s official announcement confirmed a CoinDesk scoop from earlier in the day. The platforms offered the general public access to staking services since at least 2019. Governance tokens of the largest liquid staking protocols surged on the news, with LDO, the governance token of the largest liquid staking protocol Lido Finance with some $8.4 billion of staked ether (ETH) on the platform, jumping 10.4% in the hour after the SEC announcement.

CoinDesk - Unknown

Kraken CEO Dave Ripley (Kraken)

Hedera Hashgraph (HBAR) was a rare crypto in the green on Friday, gaining 7% as most other tokens were sizably lower. Hadera, often described as an alternative to blockchain which is able to quickly and cheaply process transactions, is now up 67% over the past month. The network announced earlier in the week that technology company Dell had joined its governing council to “help organizations explore distributed ledger technology.” The governing council already consisted of Google, IBM, LG and more.

The New York Department of Financial Services (NYDFS) is investigating stablecoin issuer Paxos. The full scope of the probe is unclear and a NYDFS spokesperson said the agency could not comment on ongoing investigations. Paxos’ stablecoins include the Paxos dollar (USDP) and Binance USD (BUSD), a Binance-branded stablecoin offered through a white-label service. Paxos has been in the news recently over rumors that the U.S. Office of the Comptroller of the Currency (OCC) may ask it to withdraw its application for a full banking charter. Paxos has denied these rumors.

Trending Posts

  • Bankrupt Crypto Lender Celsius Seeks to Raise $14M From Bitmain Mining Vouchers
  • Long Traders Bear Brunt as Bitcoin, Ether Slide Spurs $220M in Liquidations
  • Crypto Markets Analysis: Crypto Trades Lower as Regulatory Concerns Trump Encouraging Macro Signs


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Trending1Super Bowl LVII - NFL Commissioner Roger Goodell Press ConferenceConsensus MagazineI’m Glad There Are No Crypto Super Bowl Ads: Here’s WhyFeb 12, 20232(Screenshot of feed, modified by CoinDesk)The Breakdown, With NLWAre Ordinals Sneakily a Boon to Bitcoin Security?Feb 12, 20233Markets Daily Podcast CoverMarkets Daily Crypto RoundupWeekend Story: How Bitcoin NFTs Might Accidentally Fix Bitcoin's Security BudgetFeb 12, 20234CDCROP: The HASH Podcast GraphicCoinDesk Podcast NetworkHeadlines: Top Stories of the Week 02-06-23Feb 11, 2023


Related posts

Bitcoin on Track for Best January Since 2013, Led by Bullish Trading During US Hours

Blake Goodwin

Steep Drops in Bitcoin, Ether Cause Over $250M in Futures Losses

Blake Goodwin

Defining Digital Assets

Blake Goodwin

Leave a Comment