Cointime

Cointime

Download App
iOS & Android

Crypto Morning Briefing: Kraken Ends Staking Program in $30M Fine; 3AC Co-Founders Launch Open Exchange

Cointime Official

Top Stories

Kraken to Shut US Crypto-Staking Service, Pay $30M Fine in SEC Settlement

Crypto exchange Kraken will “immediately” end its crypto staking-as-a-service platform for U.S. customers and pay $30 million to settle Securities and Exchange Commission (SEC) charges it offered unregistered securities.

The Internal Revenue Service has filed a court document seeking permission to enforce a summons for information against Kraken and its subsidiaries.

3AC Co-Founders Launch Marketplace to Trade Crypto Claims

Founders of bankrupt crypto hedge fund Three Arrows Capital Zhu Su and Kyle Davies, in collaboration with CoinFLEX co-founders, have launched the “first public marketplace for crypto claims” Open Exchange. Open Exchange (OPNX) said there is “a $20 billion market of claimants” desperately searching for a marketplace to monetize their claims against bankrupt crypto firms including 3AC.

Stablecoin Issuer Paxos Is Being Investigated by New York Regulator

The New York Department of Financial Services (NYDFS) is investigating stablecoin issuer Paxos, CoinDesk has learned. The full scope of the investigation is unclear. Paxos’ stablecoins include the Pax Dollar (USDP) and Binance USD (BUSD), a Binance-branded stablecoin offered through a white-label service.

Ethereum Co-founder Joe Lubin Says No Chance ETH Is Classed As Security

Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won’t be classified as a security in the United States. “I think it's as likely, and would have the same impact, as if Uber was made illegal.”

MakerDAO Integrates Blockchain Data Provider Chainlink for DAI Stablecoin

Chainlink Automation will run specific tasks, including price updates, liquidity balancing for the DAI Direct Deposit Module (D3M) and debt ceiling upgrades for assets held as collateral, according to the press release.

Crypto Price Action

As of press time, according to Cointime data:

BTC 's live price is $21,912.39 USD, dropped by 4.53% in the last 24 hours;

ETH’s live price is $1,551.90 USD, dropped by 6.05% in the last 24 hours;

BNB’s live price is $307.69 USD, dropped by 6.1% in the last 24 hours;

SOL's live price is $20.80 USD, dropped by 10.16% in the last 24 hours.

Fundraising News

Worldcoin to Raise $120M at $3B Token Valuation

Worldcoin, the eyeball-scanning crypto startup founded by OpenAI CEO Sam Altman, is looking to raise up to $120 million at a valuation of $3 billion — the same valuation it raised at last year. The startup is in discussions with deep-pocketed investors, including sovereign wealth funds, about leading another fundraise, according to two people with direct knowledge of the matter. 

Mino Games Raises $15M To Create Dimensionals Web3 Game

Feb 9 - Mino Games previously scored big hits with its Mino Monsters series of free-to-play games and titles such as Cat Game and Dog Game. Now the character-driven gaming company is transitioning into Web3 games with the new Dimensionals franchise.

Bitkraft and Fabric Ventures Led $6.5 Million Round Into Cub3

Feb 9 - Currently supporting the Ethereum and Polygon chains, the Cub3 platform enables brands to create loyalty programs that reward users in tokens for completing certain actions. 

Bitcoin Bitcoin $63,960.21
-0.39%
Paxos Ethereum Worldcoin Kraken
Comments

All Comments

Recommended for you

  • A Total of 37,212.18 DMD Permanently Burned Over the Past 7 Days

    July 9, 2026 — According to the latest on-chain data released by DMDAO, a total of 37,212.18 DMD has been permanently burned over the past seven calendar days through the protocol's predefined trading and wealth management burn mechanisms.

  • Whale Transfers 1,133 BTC to Coinbase Prime, Valued at $71.48 Million

    According to Onchain Lens monitoring, a whale transferred 1,133 BTC from Coinbase to Coinbase Prime through an intermediary wallet, valued at $71.48 million.

  • U.S. AI Chip Stocks Decline Before Market Open, Intel Falls Over 3%

    On July 7, U.S. AI chip stocks experienced widespread declines before the market opened. Intel dropped over 3%, while AMD, Qualcomm, and NXP fell more than 2%. TSMC, Broadcom, and Tesla decreased by over 1%, and NVIDIA declined by 0.7%.

  • China's Central Bank Increases Gold Reserves for the 20th Consecutive Month

    As of the end of June, China's gold reserves stood at 75.44 million ounces (approximately 2,346.446 tons), an increase of 480,000 ounces (about 14.93 tons) from the end of May, which reported 74.96 million ounces (approximately 2,331.52 tons). This marks the 20th consecutive month of gold accumulation.

  • China's Foreign Exchange Reserves in June at $341.6262 Billion

    On July 7, China's foreign exchange reserves for June stood at $341.6262 billion, a decrease of $26 billion from the end of May, representing a decline of 0.75%, with expectations set at $343.2 billion.

  • U.S. Storage Stocks Drop Pre-Market, SanDisk and Micron Down Over 4%

    On July 7, U.S. storage concept stocks collectively fell in pre-market trading. Western Digital dropped over 5%, SanDisk and Micron Technology fell over 4%, Seagate Technology declined over 3%, Rambus fell over 2%, and SMI fell over 1%.

  • U.S. Stocks in Optical Communication Sector Drop Pre-Market

    On July 7, stocks in the optical communication sector of the U.S. market collectively fell pre-market. Astera Labs dropped over 4%, while Marvell Technology, Credo Technology, and AXT Inc. fell more than 3%. Tower Semiconductor, MaxLinear, Corning, Applied Optoelectronics, GlobalFoundries, Lumentum, and Qorvo all declined by more than 2%. Coherent, Nokia, Amphenol, and Broadcom dropped over 1%.

  • Pre-market Decline in U.S. Storage Stocks

    In pre-market trading, U.S. storage concept stocks experienced a widespread decline, with Micron Technology falling by 4.8%, SanDisk dropping over 4%, Corning down more than 2%, and Intel decreasing by over 3%.

  • Two Departments: Support for Reinsurance Institutions to Increase Capital and Issue Supplementary Capital Tools

    On July 7, the National Financial Supervision and Administration Bureau and the Shanghai Municipal Government released several measures to accelerate the construction of the Shanghai International Reinsurance Center. Among these measures, they proposed to enhance the quality and efficiency of the reinsurance industry, support reinsurance institutions in increasing capital and expanding shares, and issuing supplementary capital tools to improve the capacity for internal capital accumulation and external capital supplementation, thereby strengthening the reinsurance industry's capabilities. The initiative aims to guide the insurance industry to focus on major national projects, strategic emerging industries, and livelihood security, consolidating insurance and reinsurance underwriting capabilities to enhance risk protection levels. It also supports reinsurance institutions in leveraging their professional technical advantages to assist the insurance industry in reducing risk.

  • Sources: Saudi Arabia Plans to Expand Oil Pipeline to Red Sea, Increasing Capacity by 2 Million Barrels Daily to Bypass Strait of Hormuz

    On July 7, five informed sources revealed that Saudi Arabia is considering expanding the crude oil pipeline capacity to its western coast on the Red Sea, allowing Saudi Arabia and its neighbors to transport more oil without passing through the Strait of Hormuz. This east-west pipeline, built in the early 1980s, has gained strategic importance since the outbreak of the Iran war in February and the disruption of shipping in the Strait of Hormuz. The pipeline can deliver up to 7 million barrels of crude oil per day to the Red Sea port. The CEO of Saudi Aramco stated in May that approximately 2 million barrels are supplied to west coast refineries, while about 5 million barrels are for export. Sources indicate that Saudi Arabia is in preliminary discussions with some neighboring countries regarding the pipeline expansion, aiming to add about 2 million barrels of pipeline capacity per day. It remains unclear whether Aramco's planned expansion involves upgrading existing infrastructure or constructing new pipelines. One source mentioned that the expansion plan also includes a smaller refined oil pipeline. Two sources indicated that the expansion scale could range from 1 million to 2 million barrels per day, with refined oil also being considered. Another source stated that the project would take several years and cost billions of dollars, requiring adjustments to Saudi crude pricing mechanisms.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company