Kraken


Videos

Kraken Ending Its Crypto Staking Services for US Customers, Former SEC Attorney Weighs In

Kraken is shuttering its crypto staking-as-a-service platform for U.S. customers and will pay $30 million to settle SEC charges it offered unregistered securities. In a blog post, Kraken said it would automatically unstake any assets staked by U.S. clients except for staked ether, which won't be unstaked until after the Ethereum Network's Shanghai upgrade takes effect. Ketsal partner and former SEC Attorney Zachary Fallon discusses what this could mean for the future of SEC enforcement actions over the crypto industry.

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Policy

SEC Did Not Consult Industry Before Kraken Crypto Staking Charges: Commissioner Peirce

The SEC commissioner spoke a day after Kraken settled charges with the regulator that its U.S. staking service was an unregistered securities offering.

SEC Commissioner Hester Peirce (Danny Nelson/CoinDesk)

Policy

Are the Remaining Crypto Giants Staring Down the Barrel of the US Government’s Gun?

Insiders, experts and the rhetoric of officials suggest a reckoning with the government is inevitable for the big exchanges, and this week’s action against Kraken could be just the beginning.

U.S. Securities and Exchange Chairman Gary Gensler (Alex Wong/Getty Images, modified by CoinDesk)

Videos

Kraken to End US Crypto Staking Service, Pay $30M Fine in SEC Settlement

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 it offered unregistered securities, the U.S. agency announced Thursday. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the details and the wider implications for crypto regulation.

Recent Videos

Finance

Ether Liquid Staking Platforms Will Benefit as SEC Actions Likely Fail to Deal DeFi's Knockout Blow

Lido and Rocket Pool didn’t immediately see a massive rush in of capital after Kraken announced it had settled with the SEC.

(Midjourney/CoinDesk)

Policy

SEC Chief Gensler Warns Crypto Firms to Comply With Rules After Kraken Shutters US Staking Program

Other platforms that offer yield-earning programs should "take note" and come into compliance, the regulator said a day after crypto exchange Kraken said it will pay a $30 million fine to settle SEC charges.

SEC Chair Gary Gensler (Kevin Dietsch/Getty Images)

Markets

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

The latest price moves in crypto markets in context for Feb. 10, 2023.

Lower rates may be behind bitcoin's big move (© Eugene Mymrin)

Markets

Liquid Staking Tokens Rally as Kraken Shuts Staking Service to Settle With SEC

The sudden price uptick of governance tokens for the largest liquid staking protocols – Lido Finance, Rocket Pool and Frax Finance – was a counterweight to the decline of the broader crypto market.

La economía del token de ether se vería favorecida con solo una pequeña recuperación económica. (Pixabay)

Markets

Bitcoin Drops Below $22K as Kraken Agreement to Close US Crypto Staking Operations Spooks Investors

The largest cryptocurrency by market capitalization declined after the crypto exchange giant agreed to settle charges with the SEC to shutter the service.

Bitcoin price chart showed the cryptocurrency's price drop on Thursday. (CoinDesk)

Policy

IRS Seeks Court Approval to Identify Kraken Crypto Customers

The U.S. tax agency is looking to examine Kraken's books and papers.

Consensus 2018 Sponsor branding kraken (CoinDesk)