NFT News Daily TheBittimes.com

Kraken co -founder Jesse Powell has sharply criticized the U.S. Securities and Exchange Commission following new charges against the crypto exchange, highlighting ongoing tensions between the crypto industry and regulatory bodies. In a recent escalation of the ongoing conflict between crypto exchange Kraken and the U.S. Securities and Exchange Commission (SEC), Kraken’s co -founder Jesse Powell has launched a fervent critique of the regulatory body. Powell branding the SEC as the “USA’s top decel” and accusing it of hindering progress, underscores a deeper clash between the burgeoning crypto industry and traditional regulatory frameworks. USA's top decel is back with another assault on America. The masochists haven't been happy with the beatings they've been taking in NY and are shopping for a different flavor of RegDom in CA. I thought we settled all their concerns for $30m in Feb. Now they're back for seconds? https://t.co/SkfPJyneUz ...

During the pre-mine period, 61,216 Ether was worth roughly $20 million at the time. However, eight years later, the tokens are worth more than $116 million. A wallet address containing pre-mined Ethereum worth $116 million moved its entire stash of 61,216 Ether (ETH) to an address in the Kraken crypto exchange after lying dormant for eight years. In June 2014, the Ethereum ecosystem conducted a sale event, allowing early team members and co-founders to participate and accumulate pre-mined Ether, at a time when the network was unable to generate tokens on its own. During the pre-mine period, Ether traded at a price range of $300-$400, which would place the wallet’s worth at roughly $20 million at the time. However, eight years later, the tokens in question are worth more than $116 million at the time of writing. A dormant pre-mine address containing 61,216 #ETH (116,396,127 USD) has just been activated after 8.0 years !https://t.co/f79T0fYa7b — Whale Alert (@whale...

Kraken has put an end to staking as a service and Coinbse could eventually be forced to follow suit. Will this create opportunities for LDO, FXS and RPL? The United States Securities and Exchange Commission (SEC) is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken over the centralized staking program offered to its users. The news of the crackdown sent Bitcoin (BTC) price to a 3-week low as investors became fearful of the regulatory enforcement. On the news, Ether's (ETH) price also corrected, cementing the token’s worst-performing day of 2023. While the overall crypto market was down after the SEC announcement, bright spots arose with decentralized liquid staking tokens Lido (LDO) and Rocketpool (RPL) and Frax (FXS) quickly rebounding from their sharp corrections. According to crypto-Twitter analyst Korpi, Kraken and Coinbase represent 33% of all staked Ether, and if US-based centralized exchanges are “forced” to cease offe...