- S.E.C.'s decision to charge the crypto exchange Kraken with securities violations regarding its staking services. Funds were not directly staked to the dedicated Blockchain but instead managed by Kraken pool to avoid unstaking period. SEC considers the staking service close to lending activities. To settle the charges, Kraken is paying $30 million and shutting all of its U.S. staking services.
- Circle alerted the New York regulator to Binance's historical undercollateralization of Binance-peg tokens BUSD last autumn, Binance delisted USDC for its platform, converting automatically to BUSD. Issues reported in January led to action against Paxos the BUSD stablecoin issuer, ordered to halt creation for BUSD after received a Wells notice from the SEC on February 3, 2023.
- Wormhole exploiter (one of the biggest hack 93,750 ETH) has moved $61 million to lending services MakerDAO and liquid staking (Lido).
- TradFi on DeFi. A Swiss company is offering a token tied to a BlackRock ETF that tracks hundreds of big American tech stocks.
- Central Bank of the United Arab Emirates (CBUAE) plan to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program.
- First collection of modern art in Europe at Centre Pompidou will open this spring. A NFT exhibition targeting the intersection of art and blockchain, the first of his kind.
- Hermès Wins Trademark Lawsuit Against MetaBirkins NFTs, Setting Powerful Precedent for NFT Creators. Jurors Not Convinced NFTs Are Art.
To watch this week
- Consumer Price Index (CPI) - Tuesday the 14th - 2:30 CET
- $186 million in long liquidations on February 9th, highest volume of lung liquidations over the past 90 days after market reaction due to SEC announcement about Kraken fine.
- Stablecoins continue to leave exchanges implying that January retake was probably a bull trap. Negative balance of $1.8 billion today.