The U.S could end crypto staking, A failed hedge fund Starts an exchange to trade bankruptcy claims, And luxury rehab centers offer treatment for crypto addiction. These stories and more this week in crypto. Hi, I’m Nate Martin from 99Bitcoins.com, And here’s what’s happened this week in crypto. The price of ether fell 8%, As fears began to spread about a U.S. regulatory crackdown On crypto staking protocols. The SEC charged Kraken with selling unregistered investment contracts, Since staking customers are promised regular returns and payouts. In response Kraken has shut down its US staking program And will pay a $30 million settlement to the agency. Meanwhile, Revolut, one of Europe’s largest digital banks, Just started to offer customers across 30 European countries The chance to stake their crypto holdings. The launch of its crypto staking service For a number of proof-of-stake tokens, Including Ethereum, Cardano, Polkadot, and Tezos Is part of Revolut's plan to expand its crypto-related services. The founders of failed crypto hedge fund Three Arrows Capital, have created Open Exchange, A trading platform for crypto bankruptcy claims. With a $20 billion market of claimants looking for a resolution To money lost at bankrupt crypto firms like FTX, Celsius, BlockFi, Mt. Gox and 3AC itself, Open Exchange aims to monetize claims By providing a marketplace to trade them. Global crypto exchange Binance Temporarily suspended USD bank transfers, Including deposits and withdrawals in U.S. dollars Through bank accounts for non-US customers. A spokesperson said it is only affecting
One out of every ten thousand of its monthly active users And they are working hard to restart that service as soon as possible. Binance.US services where US residents can trade are unaffected. LocalBitcoins, one of the earliest And most popular peer-to-peer bitcoin trading platforms, Announced it would be shutting down in the coming weeks, Citing unfavorable market conditions. New signups are suspended already, Trading and deposits will halt this week And users will be able to withdraw their funds for the next 12 months. Self-proclaimed Bitcoin inventor, Craig Wright, Has lost his court case to block the operation of Bitcoin Because it breaches his intellectual property rights. Wright was told by a UK judge That Bitcoin can't be copyrighted in the same way as a literary work And Wright could not show how the network’s blocks Were first recorded. The United Arab Emirates issued a new rule That all activities related to privacy coins such as Monero Are prohibited in the region. The new regulation defines an anonymous cryptocurrency As a type of virtual asset which prevents the tracing of transactions Or record of ownership. The news comes as no surprise as other regions, Including the European Union have made similar indications already. Web3 browser, Brave has added support for Solana dApps In its mobile browser to add security And eliminate the need to switch between apps for transactions. Users can now connect with Solana NFT marketplaces And cryptocurrency exchanges. Brave began its relationship with Solana in 2021. Luxury rehab centers have been popping up around the world, Promising to treat crypto addiction As more and more investors have found themselves
Struggling to control their trading. One firm offering such services Describes its facility as a safe space enabling health and fulfillment While charging upwards of $75,000 for a month-long stay. That’s what’s happened this week in crypto, See you next week. If you’ve enjoyed this video, leave us a thumbs up, Subscribe to the channel, and click the notification bell So you don’t miss a review, news update, Or the clearest information about bitcoin and cryptocurrencies anywhere.
