The Blockchain Association is calling on Congressional leadership to vote for a legislative measure to overturn a controversial tax rule.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Grogan also suggested Satoshi Nakamoto may have used the Canadian crypto exchange Cavirtex, which was acquired by Kraken in 2016.
The license was obtained through the acquisition of a Cypriot firm.
Lido (LDO), a decentralized autonomous organization (DAO) that provides liquid staking solutions for Ethereum (ETH) and other proof-of-stake (PoS) blockchains, saw its token surge 20% in the past 24 hours. The token’s price jumped from $1.98 on January 30 to $2.37 at the time of writing. Kraken Reintroduces Staking Services In Select States On January 30, cryptocurrency exchange Kraken announced the relaunch of its staking services for US clients in 37 states and two territories. The exchange also noted plans to expand these services to additional states as regulatory conditions allow. Related Reading: Lido Finance Cements DeFi Lead, Expands To Optimism: Is LDO Undervalued? For the uninitiated, Kraken facilitates staking by delegating users’ staked tokens to network validators, who are responsible for transaction validation and block production. These validators then return rewards – minus fees – to clients who have staked their tokens with them. Commenting, Mark Greenberg, Global Head of Consumer at Kraken said the launch of this staking product in the US is a positive development for the entire US crypto industry. Greenberg added: Kraken serves as a bridge so people can access the crypto space and participate in an increasingly broad range of related activities from an interface and platform that they’re familiar with. Onchain staking is a key component of how we fulfill this role and we believe the resumption of staking in the US today will play a significant role in the development and mass adoption of crypto. Following the announcement, LDO experienced a sharp spike in buying activity, propelling its price above the psychologically significant $2 level. At the time of writing, LDO boasts a total market cap of $2.1 billion, making it the 63rd largest cryptocurrency by market capitalization. Lido Soars 20%, What Do The Analysts Say? LDO’s surge has caught the attention of crypto analysts, many of whom see further upside potential. Crypto analyst World of Crypto noted that LDO is breaking out of both a bullish pennant and a descending broadening wedge. A successful breakout could send the token to the $7–$8 range within a few weeks. Related Reading: Lido Finance (LDO) Is Down 18% In 7 Days, Time To Buy The Dip? Similarly, crypto analyst Daan Crypto pointed to $3 as a crucial resistance level for LDO to break. He attributed the token’s outperformance to investors positioning themselves ahead of the Ethereum staking narrative. They added: It’s just a matter of time before we’ll see the first ETH Spot ETF filing with staking included. That should kick off the ETH & staking narrative and should help boost the performance on these Liquid Staking Derivatives coins. As a token closely tied to Ethereum staking, LDO’s price trajectory remains heavily influenced by ETH’s performance. Fortunately for LDO holders, analysts remain optimistic about an upcoming Ethereum rally. Earlier this month, crypto analyst Mister Crypto remarked that ETH looks ‘bottomed out’, potentially getting ready for a strong rebound. At press time, LDO trades at $2.37, up 19.1% in the past 24 hours. Featured image from Unsplash, Charts from X and TradingView.com
Also in 2024, Kraken's platform grew to hold $42.8 billion in assets, amassed 2.5 million funded accounts and hit $665 billion in total trade volume.
Jesse Powell, co-founder of Kraken exchange, has publicly supported Bitcoin Cash advocate Roger Ver, who is currently battling tax-related charges from the US Department of Justice (DOJ). In a Jan. 27 post on X, Powell questioned the integrity of the evidence presented by the Internal Revenue Service (IRS) and highlighted potential flaws in the case. […]
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Several investor groups are trying to ramp up their crypto activity amid the political shift under President Trump, according to Bernstein.
A U.S. House committee says it is investigating alleged debanking in the crypto industry, according to a recently published letter.
Gelato and Kraken will run challengers, making Ink the first Superchain network to feature multiple challengers at launch.
The crypto industry is generally optimistic for growth under the new administration, though some regulatory concerns remain.
Kraken, founded in 2014, has doubled down on growth and “embraced startup mode," Ink creator Andrew Koller told The Block.
The company intends to use the new financing to develop its onchain UX platform via its software development kits.
Over the weekend, several crypto influencers—including popular AI-driven crypto influencer AIXBT—erroneously stated that bankrupt FTX distributions would commence in January. These claims fueled excitement about a possible market surge 2025, driven by the rumored $16 billion disbursement. However, the actual timeline for these payments tells a different story. FTX’s official statements say no payouts will […]
The post Crypto influencers spark false hope on FTX payouts, actual plan set for March 2025 appeared first on CryptoSlate.
Futures open interest on XRP dropped by 54% in three weeks. Is XRP gearing up for another rally?
Also in this issue: Aptos Labs' leadership shift and Sonic's airdrop to TikTok users.
This week’s Crypto Biz explores Coinbase's wBTC controversial delisting, Deutsche Bank’s blockchain, USDT in Europe, FTX creditors repayment and BVNK’s move to the United States.
The team had originally planned for Ink to go live in early 2025, so the launch of the main network is ahead of schedule.
Binance, Crypto.com, Kraken and other crypto exchanges continue to list Tether’s USDT on their EU platforms weeks before the final MiCA deadline on Dec. 30.
More than two years after the cryptocurrency exchange filed for bankruptcy, the first group of FTX claimants could see recovery payments distributed as early as January.
The Australian Securities and Investments Commission (ASIC) has fined Bit Trade—the operator behind the Kraken exchange—$5 million for unlawfully issuing a credit facility, according to a Dec. 12 statement. The penalty follows a federal court ruling that found the company in breach of regulatory obligations. Per the statement, Bit Trade offered a “margin extension” product […]
The post Australia’s ASIC fines Kraken operator Bit Trade $5M for regulatory breaches appeared first on CryptoSlate.
Kraken Australia operator Bit Trade must pay $5 million plus court costs after the Federal Court sided with the country’s corporate watchdog.
The survey highlighted that 63% of holders acknowledged that emotional decisions significantly negatively affected their digital asset portfolio
A cryptocurrency firm plans to completely halt the operation of its NFT marketplace early next year, a decision that might have a great impact on the NFT space. Analysts find this move of Kraken somewhat unexpected, raising questions on what the future holds for NFTs considering Kraken is a major player in these type of […]
Starting Nov. 27, Kraken's NFT marketplace will transition to withdrawal-only mode.
Jesse Powell, the founder of Kraken exchange, has voiced strong support for Brian Brooks, the former acting US Comptroller of the Currency, as the next Chair of the Securities and Exchange Commission (SEC). Powell highlighted Brooks’ broad expertise in a Nov. 19 post on X, noting that his understanding extends beyond crypto to the SEC’s […]
The post Kraken’s founder Jesse Powell backs Brian Brooks for SEC Chair appeared first on CryptoSlate.
A California judge has rejected Kraken’s motion for interlocutory appeal, saying in a Monday decision that allowing an appeal would only “delay resolution” of the U.S. Securities and Exchange Commission’s (SEC) ongoing case against the crypto exchange.
The issuance comes at a time when the European stablecoin market is poised for a shake-up as regulations for issuers will enter into full force by the end of this year.
Kraken’s legal team, led by attorney Michael O’Connor, has criticized the US Securities and Exchange Commission (SEC) for its latest attempt to dismiss critical defenses raised by the exchange in their ongoing legal battle. On Nov. 6, O’Connor shared a statement on X, condemning the SEC’s approach as an attempt to “avoid discovery” into what […]
The post Kraken lawyer slams SEC legal strategy, draws parallels to Ripple case misstep appeared first on CryptoSlate.
The SEC argued that Kraken’s defenses about the major questions doctrine are a “due process fail as a matter of the law.”