Oil prices dip on OPEC+ hike speculation; US inventories seen rising
Cryptocurrency exchange Kraken announced the reintroduction of its staking services for U.S. clients, featuring 17 digital assets, including Solana and Ethereum. This move marks a significant return for Kraken’s staking offerings in the United States, following a two-year hiatus due to regulatory challenges.
The service is now accessible to clients across 37 states. Staking, a process where investors earn rewards for contributing to the validation and security of blockchain networks, will once again be an option for Kraken’s U.S. customers. Mark Greenberg, Kraken’s Global Head of Consumer, expressed enthusiasm for the relaunch, highlighting its potential to enhance the security of blockchain networks.
In February 2023, Kraken reached a settlement with the U.S. Securities and Exchange Commission (SEC) over allegations that it had failed to register its crypto asset staking-as-a-service program. The company agreed to a $30 million fine to resolve the charges.
Kraken’s newly launched staking product allows clients to engage in bonded staking, where crypto assets are locked with the network for a set period. The exchange delegates these staked assets to validators responsible for transaction validation and block production. In return, validators distribute rewards, after deducting fees, to the participating clients.
The relaunch comes after a period of regulatory scrutiny under the leadership of former SEC Chair Gary Gensler. With the recent inauguration of President Donald Trump last week, the new administration is signaling a keen interest in collaborating with the crypto sector. President Trump has appointed Mark Uyeda to lead the SEC until a permanent chair is confirmed, indicating potential shifts in regulatory approaches to cryptocurrency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.