Weekly Report (06 – 12 Feb 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) PayPal’s Cryptocurrency Holdings In 2022 Reached $600 Million

It disclosed its interests in its annual report to the U.S. Securities and Exchange Commission (SEC). The majority of PayPal customers’ cryptocurrency holdings were in Bitcoin, with BTC accounting for $291 million of the company’s total assets. $250 million were kept in ETH, compared to $63 million in LTC and BCH…[continue reading]

2) Binance Implements Zk-SNARKs On Their Proof-Of-Reserves Platform

The biggest centralised cryptocurrency exchange by trading volume, Binance, has implemented zk-SNARKs, a sort of zero-knowledge proof, into its proof-of-reserves verification. This is to ensure that monies stored on the site are backed 1:1 while maintaining the confidentiality of sensitive user information…[continue reading]

3) Kraken To Discontinue US Crypto Staking Service And Pay $30M Fine As Part Of SEC Settlement

The U.S. Securities and Exchange Commission (SEC) stated Thursday that cryptocurrency exchange Kraken would “immediately” discontinue its crypto staking-as-a-service platform for U.S. users and pay $30 million to resolve allegations that it issued unregistered securities…[continue reading]

4) Attorneys Contest The SEC’s Attempt To Classify Nine Tokens As Securities

As the Securities and Exchange Commission (SEC) continues to pursue regulatory oversight of the cryptocurrency market, a prominent industry lawsuit seems ready to address more issues regarding the scope of its power…[continue reading]

5) Brave Launches Solana Partnership Providing Mobile DApp Support

In new cooperation, Brave Software has announced Solana DApp support. Meanwhile, millions of Solana whales have been on the move. In a new agreement, Brave Software has announced support for the Solana DApp, resulting in a price increase during the last 24 hours…[continue reading]