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Roughly $220M in liquidations driven by Kraken settlement with SEC
Kraken will discontinue its staking services as part of a settlement with the SEC.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Quick Take:
- Crypto exchange Kraken will discontinue its staking services for U.S. customers as part of a settlement with the SEC, according to a press release from the regulator on Feb. 9.
- The settlement triggered a sell-the-news event and caused panic in the crypto industry.
- This triggered mass liquidations, roughly $200 million worth of long and $20 million of short liquidations, the highest amount since mid-January.
