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Crypto Morning Briefing: Kraken Ends Staking Program in $30M Fine; 3AC Co-Founders Launch Open Exchange

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Kraken to Shut 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 Internal Revenue Service has filed a court document seeking permission to enforce a summons for information against Kraken and its subsidiaries.

3AC Co-Founders Launch Marketplace to Trade Crypto Claims

Founders of bankrupt crypto hedge fund Three Arrows Capital Zhu Su and Kyle Davies, in collaboration with CoinFLEX co-founders, have launched the “first public marketplace for crypto claims” Open Exchange. Open Exchange (OPNX) said there is “a $20 billion market of claimants” desperately searching for a marketplace to monetize their claims against bankrupt crypto firms including 3AC.

Stablecoin Issuer Paxos Is Being Investigated by New York Regulator

The New York Department of Financial Services (NYDFS) is investigating stablecoin issuer Paxos, CoinDesk has learned. The full scope of the investigation is unclear. Paxos’ stablecoins include the Pax Dollar (USDP) and Binance USD (BUSD), a Binance-branded stablecoin offered through a white-label service.

Ethereum Co-founder Joe Lubin Says No Chance ETH Is Classed As Security

Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won’t be classified as a security in the United States. “I think it's as likely, and would have the same impact, as if Uber was made illegal.”

MakerDAO Integrates Blockchain Data Provider Chainlink for DAI Stablecoin

Chainlink Automation will run specific tasks, including price updates, liquidity balancing for the DAI Direct Deposit Module (D3M) and debt ceiling upgrades for assets held as collateral, according to the press release.

Crypto Price Action

As of press time, according to Cointime data:

BTC 's live price is $21,912.39 USD, dropped by 4.53% in the last 24 hours;

ETH’s live price is $1,551.90 USD, dropped by 6.05% in the last 24 hours;

BNB’s live price is $307.69 USD, dropped by 6.1% in the last 24 hours;

SOL's live price is $20.80 USD, dropped by 10.16% in the last 24 hours.

Fundraising News

Worldcoin to Raise $120M at $3B Token Valuation

Worldcoin, the eyeball-scanning crypto startup founded by OpenAI CEO Sam Altman, is looking to raise up to $120 million at a valuation of $3 billion — the same valuation it raised at last year. The startup is in discussions with deep-pocketed investors, including sovereign wealth funds, about leading another fundraise, according to two people with direct knowledge of the matter. 

Mino Games Raises $15M To Create Dimensionals Web3 Game

Feb 9 - Mino Games previously scored big hits with its Mino Monsters series of free-to-play games and titles such as Cat Game and Dog Game. Now the character-driven gaming company is transitioning into Web3 games with the new Dimensionals franchise.

Bitkraft and Fabric Ventures Led $6.5 Million Round Into Cub3

Feb 9 - Currently supporting the Ethereum and Polygon chains, the Cub3 platform enables brands to create loyalty programs that reward users in tokens for completing certain actions. 

Bitcoin Bitcoin $96,361.10
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