Cryptocurrency exchange Kraken has reached an agreement with the United States Securities and Exchange Commission to stop offering staking services or programs. 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 qualified as securities under its purview. The crypto firm has agreed to cease operations of its staking program as well as pay $30 million in disgorgement, prejudgment interest, and civil penalties. “Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right …

London-based digital asset protection firm, Coincover, has secured $30 million in a funding round led by Foundation Capital, with a follow-on investment from CMT digital. According to Coincover’s announcement, the funds will be used to scale its operations, drive recruitment, develop new products, and form partnerships to help strengthen the security of the cryptocurrency ecosystem, thereby, providing even more comprehensive protection to businesses and individuals holding digital assets. Coincover was founded in 2018 and launched in 2019 with the aim of providing trust to the digital asset industry. The company already works with over 300 businesses including exchanges, wallets, hedge …

United States authorities appear to be resurrecting past techniques to crackdown 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 spanning "multiple agencies to discourage banks from dealing with crypto firms," aiming to lead crypto businesses to become "completely unbanked," according to Nic Carter — co-founder of venture firm Castle Island and crypto intelligence firm Coin Metrics. The claims rely on conversations he had with bank executives, including crypto native and traditional banks, Carter told Cointelegraph. "They tell me they …

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 extending the exclusivity period for a Chapter 11 restructuring plan from Feb. 15 to March 31. Under the proposed extension, Celsius’ debtors would also have the option of soliciting a plan until June 30. The unsecured committee of creditors said the bankruptcy case “must proceed …

A federal judge has reportedly denied oral arguments proposing former FTX CEO Sam Bankman-Fried be allowed to use certain messaging apps. According to a Feb. 9 Reuters report, Judge Lewis Kaplan of United States District Court for the Southern District of New York upheld his ruling that Bankman-Fried be restricted from using encrypted messaging apps as a condition of his release on a $250-million bond. The judge ordered SBF not to communicate using apps like Signal on Feb. 1, but the former CEO’s legal team and prosecutors had negotiated a deal allowing for exceptions including Facebook Messenger, Zoom, and Facetime. …

Amidst a drastic decline in coin prices, shifting player behavior, and hard-to-maintain tokenomics, it's been a difficult year for many GameFi developers. While more established franchises, such as Axie Infinity, have held ground, other lesser-known projects like Elexir have mostly pulled the plug, with a lack of viable game designs being unable to compensate for the "Fi" element in GameFi. That said, one project which, despite running into all challenges, experienced by its peers, appears to have gained traction anyway. In early February, blockchain multiplayer online battle arena (MOBA) game Superpower Squad (SPS) surpassed 200,000 downloads on the App Store …

In this week’s episode of Market Talks, Cointelegraph welcomes Average Joe’s Crypto, a research analyst and writer. He authors his own blog, which focuses on all things crypto, Web3 and decentralized finance (DeFi). Without wasting any time, we jump straight into why artificial intelligence (AI) tokens have been going parabolic recently. Why have tokens that use artificial intelligence in some way been having their moment in the sun, and is this a trend that will continue into the future or is it just a passing fad? There have recently been a number of memecoins that have been moving upw, too. …

New Hampshire is on the verge of becoming a national leader in cryptocurrency if its legislature follows through on recommendations made by a commission appointed by Governor Chris Sununu. The recommendations would establish a legal framework for blockchain and crypto businesses in the state, providing clarity and certainty to entrepreneurs and regulators while avoiding the onerous and largely pointless special rules federal regulators and members of Congress want to impose on the industry. The proposed rules would also protect consumers, depositors and investors. Blockchain businesses presently exist in something of a legal gray area in the United States. Congress has …

Bitcoin (BTC) miner Bitfarms has settled its debt obligations with BlockFi, closing the chapter on its short relationship with the bankrupt cryptocurrency lender. On Feb. 9, Bitfarms disclosed that it had settled its $21 million debt obligations with BlockFi for a single $7.75 million cash payment. The settlement was reached weeks after Bitfarms warned that it might default on its BlockFi loan. “Combined with the earlier restructuring and elimination of our capital expenditure obligations in December, this successful negotiation and settlement furthers our initiatives to reduce indebtedness,” said Jeff Lucas, Bitfarms’ chief financial officer. Bitfarms’ relationship with BlockFi centers around …

As the crypto industry attracts more users, developers are laser-focused on improving user experience, a major pain point for most new users. Artificial Intelligence has often been seen as a technology that could improve how people use and interact with crypto. In the latest episode of Hashing It Out, the integration of AI with crypto is discussed at length. Cointelegraph’s Elisha Owusu Akyaw (GhCryptoGuy) interviewed Nansen CEO Alex Svanevik about the importance of on-chain data and the use of artificial intelligence in crypto in Episode 8 of Hashing It Out. The narrative that artificial intelligence is taking over has intensified …

Bitcoin (BTC) stayed lower at the Feb. 9 Wall Street open as a sweep of local lows increased bets of a more serious comedown. Trader: "Something feels off" about BTC strength Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded around $22,700 on Bitstamp. The pair had dipped to $22,378 earlier in the day, this marking its lowest levels since Jan. 25 and a reinforcement of $22,400 as an important zone to watch. “We tapped the swing low at $22,500 followed by a bounce. I would look for the bears to escalate the drop once we lose …

On Feb. 8, Cointelegraph unveiled its list of the Top 100 most impactful players in the crypto industry for 2023. The list is being released in increments from the bottom up, starting by unveiling 10 names each weekday up until the final 10. On Feb. 9, entries 81 through 90 were revealed. DISCOVER COINTELEGRAPH’S TOP 100 IN CRYPTO AND BLOCKCHAIN 2023 This batch of players features names such as entrepreneur Gary Vaynerchuk, also known as Gary Vee; Coin Bureau, a media entity offering crypto education; and Do Kwon, the leader of the fallen Terra project. A motivational voice in the …