Let’s dig into what this means for our customers.
In its blog post entitled ‘ Why We Stand by Staking‘, Coinbase announced that users who staked their tokens before orders by the SEC were issued regarding the exchange – June 6 – wouldn’t be affected by this decision.Ĭoinbase has highlighted a condensed version of the blog via its Twitter thread.ġ/ As you might have heard, on June 6, 10 US states initiated proceedings related to Coinbase’s retail staking services. Coinbase Staking – Fighting Court Cases Against 10 US States
This means that crypto investors in these states are unable to leverage the exchange’s staking facilities. The Coinbase staking service has been stopped in four US states, California, South Carolina, Wisconsin, and New Jersey. On February 9th, around 08:47 PM, BTC-USD prices on Coinbase-Pro diverged by more than 75 bps from major CEXs, following an aggressive $7.5 million buy order.Join Our Telegram channel to stay up to date on breaking news coverage On a weekly basis, BTC is down by 5% and ETH is down by 7%. BNB Chain’s token slid over 10% on the news, while BUSD saw significant inflows to crypto exchanges, signaling the desire by the market to turn it into fiat or other stablecoins.īitcoin hit a $21,500 low on this news last week, while the BTC-Gold correlation hit a 3-month high as both prices have declined week over week since the start of the month, in contrast to traditional equities. The SEC also reportedly intends to sue Paxos for selling BUSD as an unregistered security. Next in line was NY-based startup Paxos and leading CEX Binance, as the New York Department of Financial Services ordered Paxos to cease issuing Binance USD, a USD-pegged stablecoin. Lido Finance's LDO token led the surge with a 10% jump in one hour. The move is focused on centralized exchanges acting as staking intermediaries, or that is what the market thinks as governance tokens of the largest liquid staking protocols surged on the news. First, on Thursday afternoon, the SEC announced that Kraken agreed to pay a $30 million fine for not registering the offering and sale of its crypto asset staking-as-a-service program. US regulators had crypto at the center of their aim these last few days, targeting two of the industry's most essential pillars: staking and stablecoins. We start with Use Case 1 with a focus on liquidity venues: Why should you track your liquidity?
#BINANCE VS KRAKEN STAKING SERIES#
We are delighted to share a series of Use Cases powered by SUN ZU Lab data! Gemini, Genesis Reach $100 Million Agreement Over Earn Program - 2/7/23.Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise - 2/7/23.Kraken ends its crypto-staking services for US clients following $30M SEC charge - 2/9/23.Bitcoin hits $21,700 low as the SEC puts a halt to the crypto rally - 2/9/23.Paxos will no longer issue Binance USD stablecoin - 2/13/23.Get an overview of crypto market liquidity from February 6th, 2023 to February 13th, 2023 through 2 insightful reports! As usual, we look at the liquidity and trading patterns of BTC and ETH last week, including bid-ask spreads and fragmentation index and take it a step further with a detailed report on market anomalies.
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