State of Crypto

Reflections in the Wet Sidewalk of Modern Office Skyscrapers in The City of London
Silvergate's Collapse May Spell Regulatory Trouble for Crypto
Silvergate’s woes are an ill omen for the broader crypto industry.
Reflections in the Wet Sidewalk of Modern Office Skyscrapers in The City of London

Sam Bankman-Fried outside court on February 9, 2023 (Liz Napolitano/CoinDesk)
Prosecutors’ Case Against FTX’s Sam Bankman-Fried Becomes Clearer
In the last week prosecutors have laid out new details and allegations against the FTX founder.
Sam Bankman-Fried outside court on February 9, 2023 (Liz Napolitano/CoinDesk)

Terraform Labs co-founder Do Kwon (CoinDesk TV)
The SEC's Stablecoin Hammer, Courtesy Terraform Labs and Do Kwon
The SEC’s lawsuit against Terraform Labs alleges that terraUSD (UST), and nearly every token it issued, are securities.
Terraform Labs co-founder Do Kwon (CoinDesk TV)

Reflection Of Government Building In River
State of Crypto: Interpreting the Paxos-Binance Tea Leaves
NYDFS forced Paxos to stop issuing Binance USD. The SEC has said BUSD may be a security. Stay with me here – Paxos may not be the regulatory target.
Reflection Of Government Building In River

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Key Takeaways From Senate Banking Committee Hearing on Crypto
CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the key takeaways from Tuesday's Senate Banking Committee hearing called "Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets." 
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Stablecoin Issuer Paxos ‘Categorically Disagrees’ With SEC That BUSD Is a Security
Paxos acknowledged it received a Wells Notice from the SEC indicating a possible enforcement action is forthcoming based on the charge that its Binance USD BUSD stablecoin constitutes an unregistered security according to a Monday press release But the stablecoin issuer said it categorically disagrees with the SEC staff because BUSD is not a security [...]
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Paxos to Stop Minting Stablecoin BUSD Following Regulatory Action
Stablecoin issuer Paxos will stop minting new Binance USD BUSD tokens at the direction of the New York Department of Financial Services NYDFS with the news coming just after a report of the threat of legal action from the U S Securities and Exchange Commission SEC Coin Desk Global Policy and Regulation Managing Editor Nikhilesh [...]
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SEC Chair Gensler (Getty Images)
What Does Kraken's SEC Settlement Mean for Crypto Staking?
Kraken had a pretty lousy day, but the industry is more interested in what this means for staking.
SEC Chair Gensler (Getty Images)

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Kraken Ending Its Crypto Staking Services for US Customers, Former SEC Attorney Weighs In
Kraken is shuttering its crypto staking as a service platform for U S customers and will pay 30 million to settle SEC charges it offered unregistered securities In a blog post Kraken said it would automatically unstake any assets staked by U S clients except for staked ether which won't be unstaked until after the [...]
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