Crypto
Kraken Resumes Staking For US Customers
:max_bytes(150000):strip_icc()/GettyImages-2188532306-266234926e084092863d16aa69a29454.jpg?ssl=1 "Kraken Resumes Staking For US Customers")
Key Takeaways
- Crypto exchange Kraken has reintroduced crypto staking services for its customers in the U.S.
- Kraken was previously sued by the SEC for offering similar services.
- The move by Kraken is yet another sign that the regulatory environment for crypto companies in the U.S. is changing rapidly since President Trump returned to office.
Cryptocurrency exchange Kraken is reintroducing staking services for U.S. customers again.
Kraken’s decision to resume staking comes nearly two years after it settled charges with the SEC, which had previously forced it to halt staking services and pay a $30 million fine for offering unregistered securities.
Staking is a process by which crypto investors can pledge and lock their tokens to a pool which is then used toward validating transactions. Successful validators receive rewards for verifying information on the blockchain, and those rewards are shared with investors who staked their assets.
Kraken Pro users in 37 states and two territories will be able to stake 17 digital assets including Ethereum (ETHUSD), Solana (SOLUSD), Polkadot (DOTUSD), and Cardano (ADAUSD).
This could be yet another sign that the crypto landscape is changing quickly under President Donald Trump’s second administration. In his first week in office, Trump signed an executive order on digital assets, and the Securities and Exchange Commission has become more friendly to the crypto industry.
PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.
A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.
The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.
“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”
Tager said people like receiving cryptocurrency because it has the potential to increase in value.
“There’s so much you can do with this technology and it’s still in its early days,” she said.
Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.
“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”
Gift-givers can also contribute to 529 plans for college and other education expenses.
“It’s that gift that potentially can keep on giving,” Prescod said.
For those still interested in giving cryptocurrency, experts recommend doing research first.
“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.
The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.
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