Investors cheer Coinbase’s new partnerships and attempts to reignite growth

Coinbase stock drops after SEC Wells notice, a possible prelude to ‘enforcement action’

American crypto giant Coinbase received a Wells notice today from the Securities and Exchange Commission. In the wake of Coinbase’s filing regarding the Wells notice, shares of the company are off sharply in after-hours trading. Per a Coinbase SEC filing regarding the matter, the company writes that the government agency’s staff has “advised the Company that […]

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Crypto exchange Kraken cuts 1,100 jobs

Kraken ends its crypto-staking services for US clients following $30M SEC charge

Kraken has settled charges with the U.S. Securities and Exchange Commission (SEC) and is shutting down its on-chain staking program, the government agency shared on Thursday. The exchange, which was charged under its subsidiaries of Payward Ventures and Payward Trading, will pay $30 million in charges for “disgorgement, prejudgment interest and civil penalties.” In response […]

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India’s central bank wants to ban cryptocurrencies, government says

India’s crypto tax pushing traders to foreign exchanges

India’s tax rules on crypto, which went into effect last April, has resulted in local exchanges ceding the lion’s share of the market to those operated by foreign players, according to a new report. Binance, Coinbase and other foreign exchanges commanded 67.6% of the crypto market share in India as of October 2022, up from […]

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Crypto exchange Kraken cuts 1,100 jobs

Crypto exchange Kraken cuts 1,100 jobs

Crypto exchange Kraken today announced it’s letting go of 1,100 staffers. The announcement came from a company blog post and follows similar news from DoorDash that it was also cutting staff. News that Kraken is cutting staff — and therefore costs — is not a surprise, given a generally gloomy macroeconomic climate and even worse climes […]

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Kraken’s Jesse Powell on why he’s stepping down as CEO of the crypto exchange

Kraken’s Jesse Powell on why he’s stepping down as CEO of the crypto exchange

Jesse Powell is stepping down from the CEO role at U.S.-based crypto exchange Kraken, the Wall Street Journal reported last month. Co-founded by Powell and Thanh Luu in 2011, Kraken is now the fourth-largest crypto exchange by volume, according to CoinMarketCap. It’s a critical inflection point for the company, which was valued at $10 billion […]

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Arjun Sethi’s crypto derivatives protocol Nibiru raises maiden funding at $100M valuation

Arjun Sethi’s crypto derivatives protocol Nibiru raises maiden funding at $100M valuation

Nibiru, a new crypto derivatives protocol co-founded by Tribe Capital GP Arjun Sethi, has raised $7.5 million seed funding at a valuation of $100 million, two sources familiar with the matter told TechCrunch. Tribe Capital, Republic Crypto and Kraken invested in the seed round, a source said, requesting anonymity as the information is not public. […]

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Former ‘Bitcoin maximalist’ Dan Held sees a future in DeFi for the digital asset

Former ‘Bitcoin maximalist’ Dan Held sees a future in DeFi for the digital asset

As the crypto markets continue to tumble, a major industry player’s beliefs are also taking a turn as he shifts from being a “Bitcoin maximalist” to what he calls a “Bitcoin rationalist.”

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