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Ether drops amid fears of SEC crypto crackdown on staking
The price of etherslid more than 3% Thursday afternoon as investors spooked investors mulled over rumors about a potential crypto crackdown in the U.S.
The worries began late Wednesday night after Coinbase
CEO Brian Armstrong tweeted about “rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers.” On Thursday afternoon, reports that Kraken has agreed to shutter its crypto staking operations to settle charges with the SEC.
Coinbase shares dropped almost 14%.
Crypto is no stranger to fear, uncertainty and doubt about government crackdowns. So far, the rumor Armstrong addressed is exactly that: a rumor.
Crypto exchange Binance will suspend U.S. dollar transfers
Binance said it would suspend U.S. dollar withdrawals and deposits beginning Feb. 8.
- Binance will suspend U.S. dollar withdrawals and deposits for international customers beginning Feb. 8, the company said.
- Binance banking partner Signature Bank in January raised transaction minimums for dollar transfers.
- Millions of dollars worth of crypto flowed out of Binance after it announced the suspension, but the company says it remains “net-positive.”