This week, Kraken crypto exchange has been in the news for bending its knees and shutting down its staking service to comply with the SEC’s demands. Moreover, altcoins have also performed remarkably well this week. Let’s find out and learn.
Bitcoin
A jittery market awaits the next move as bitcoin declined below the strong $22,300 support on Wednesday but recovered to rest at $22,600.
Damas, a decentralized social network, is introducing BTC earning facility for its users for posting content on the decentralized web.
Ethereum
Input Output Global (IOG), the entity behind the Cardano blockchain, has announced the launch of a new sidechain proof of concept compatible with the Ethereum Virtual Machine (EVM).
Russia’s largest bank Sberbank has announced that it is moving forward with its plans to launch its DeFi platform on Ethereum.
DeFi
DeFi protocol dForce suffered a loss of over $3.6 million, which hackers were able to recover thanks to a refinancing attack carried out on Arbitrum and Optimism Chain.
The CoW (Coincidence of Desires) protocol, the decentralized finance platform on which CoW swaps are built, has suffered from a multisig attack on its settlement smart contracts.
VC firm Andreessen Horowitz recently voted against a proposal to deploy the latest Uniswap iteration on Binance Chain using a wormhole bridge.
Altcoins
After a few days of losses, altcoins are back in the green, with some investors somewhat jittery about whether the rally will continue.
The team behind Lido has revealed a proposal for Lido v2, which will be the biggest upgrade to the protocol ever.
technology
Brave Software announced that it is partnering with Solana Platform, allowing users to access Solana’s top dApps directly on the browser.
Tech giant Dell Technologies Inc. will join the governing council of distributed ledger company Hedera Hashgraph LLC.
Business
At the LEAP conference in Riyadh, it was announced that the government of Saudi Arabia has signed an MoU with The Sandbox for their mutual benefit.
Gemini Earn users collectively breathed a sigh of relief as Gemini, Genesis Global Capital (Genesis) and Digital Currency Group reached an agreement on the Earn program.
London has been highlighted as the most crypto-ready city in the world, across 8 key data points examined by crypto tax platform Recap.
Generally distressed throughout 2022, Tether has made a huge improvement in its financials and topped out with a $700 million Q4 net profit.
Crypto security and insurance project Coincover has announced it has raised $30 million in a round led by Foundation Capital.
Binance announced that the major auditors still have a lot to learn about the crypto industry and therefore a full audit probably won’t happen soon.
Digital bank Revolut has launched a crypto staking facility for its users based in the United Kingdom (UK) and the European Economic Area (EEA).
Binance has announced a minor, temporary suspension of USD transfers on its exchange platform starting February 8th.
Regulation
Commissioner Peirce issued a statement on Thursday explaining his opposition to the SEC’s shutdown of Kraken’s staking program.
Crypto exchange Kraken and the SEC have reached a settlement under which Kraken will pay a $30 million fine and shut down its staking business.
Lawmakers in the US state of Mississippi have enacted a law that legalizes cryptocurrency mining and protects the rights of cryptocurrency miners.
Paxos, a cryptocurrency company and stablecoin issuer, is under investigation by a New York-based regulatory body.
Dubai’s Virtual Assets and Regulatory Authority (VARA) has issued a new set of rules for any crypto-linked firm attempting to set up business in its jurisdiction.
Sunak’s government has been slow to move in this direction since announcing that the UK wanted to become a worldwide crypto hub.
nft
File-sharing service WeTransfer has partnered with blockchain platform Minima to launch NFTs on the network.
Aptos Labs is expanding into the Web3 space by investing in TikTok’s competing short video app, Chingari.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: cryptodaily.co.uk
