Paxos Trust Company — the New York-based stablecoin issuer behind Binance USD (BUSD) and Paxos Dollar (USDP) — is reportedly being investigated by the New York Department of Financial Services (NYDFS). A “person familiar with the matter” told Bloomberg in a Feb. 10 report that the exact motive behind the probe is currently unclear. An NYDFS…
Read more
The collapse of FTX and related developments did more to pull up or push down the price of Bitcoin (BTC) throughout Q4, compared to macroeconomic events such as rate hikes, according to research. In a “State of Bitcoin Q4 2022” report published on Feb. 10, Messari research analysts Sami Kassab and Chris Collar found that…
Read more
Bitcoin (BTC) mining firm CleanSpark is planning to continue its strategy of scooping up distressed mining company assets this year. The Bitcoin miner released its fiscal Q1 earnings presentation on Feb. 9, where the company said it remained optimistic about the coming year and continued growth. Chief Financial Officer, Gary Vecchiarelli, said CleanSpark has seen…
Read more
Members of the crypto community are seemingly outraged over the recent charges laid against crypto exchange Kraken in relation to its staking-as-a-service program in the United States. On Feb. 9, the United States Securities Exchange Commission (SEC) announced it had settled charges with Kraken over “failing to register the offer and sale of their crypto…
Read more
United States Securities and Exchange Commission (SEC) commissioner Hester Pierce has publicly rebuked her own agency over the shut down of Kraken’s crypto staking program in the United States. The commissioner blasted her regulator in a Feb. 9 statement called “Kraken Down,” noting that regulation by enforcement “is not an efficient or fair way of…
Read more
Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won’t be classified as a security in the United States. Cointelegraph spoke with Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, in Tel Aviv at the Web3 event, Building Blocks 23. Asked if ETH could be classed as a security in…
Read more
The American state of Mississippi is one step closer to protecting the rights of cryptocurrency miners after the state senate passed the Mississippi Digital Asset Mining Act on Feb. 8. There is a companion bill under consideration in the state house of representatives. The senate bill, authored by state Sen. Josh Harkins, legalizes home digital…
Read more
Cryptocurrency exchange Kraken has reached an agreement with the United States Securities and Exchange Commission to stop offering staking services or programs to U.S. clients. In a Feb. 9 announcement, the SEC said it had charged Kraken with “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which the commission claims…
Read more
United States authorities appear to be resurrecting past techniques to crack down on crypto firms and banks offering services to the industry, several sources told Cointelegraph. The alleged strategy consists of isolating the traditional financial system from the crypto market by relying on “multiple agencies to discourage banks from dealing with crypto firms,” with the…
Read more
The unsecured committee of creditors and others involved in crypto lending firm Celsius’ bankruptcy case have objected to a motion from the debtors delaying a reorganization plan. In separate Feb. 8 court filings, the committee and Withhold account holders as well as the United States Trustee and Celsius borrowers objected to a motion aimed at…
Read more