Main today’s events in the cryptocurrency sector

Specialists of one research company told about the key events of the day in the world of cryptocurrencies. They noted that among the main news of the last day, as of February 10, 2023, was that the Kraken exchange closed the staking service as part of a settlement with the U.S. Securities and Exchange Commission (SEC). In addition, the company will pay $30 million as part of the settlement of the issue. The community was also stirred up by rumors that the financial regulator of New York (USA) is investigating the activities of Paxos, and Tether published a new profit report.

The management of the Kraken platform agreed to pay $30 million to the SEC as part of the settlement procedure. The agency decided that the site did not have the right to offer staking to users. Experts noted that this could become a precedent and affect other players in the cryptocurrency industry, including services such as Coinbase and Binance. These exchanges give their clients the opportunity to use similar services.

The New York Department of Financial Services (NYDFS) has initiated an investigation into the activities of the Pax Dollar (USDP) stablecoin issuer Paxos. In addition, the supervisory authorities closely studied all the details of the launch of the Binance USD (BUSD) stable coin. The NYDFS initiative could, according to analysts, indicate that the US has seriously taken control of this class of virtual assets and some of the stable coins may be banned in the country.

Finally, the leading issuer of stablecoins Tether has published a quarterly financial report. According to the data, the company made a net profit of $700 million in the last three months of 2022. This indicator has increased in comparison with the data for the third quarter.

According to the assurances of the company’s representatives, this became possible due to the increase in interest rates by the US Federal Reserve. This state of affairs has led to an increase in the profitability of the state debt, which is part of the reserves of the organization.