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Crypto Market Daily Highlights: Kraken Ceases US Staking Services
The announcement that Kraken was stopping its staking services for US clients had a negative impact on investor mood, making Thursday's session for the cryptocurrency market unfavorable.
Thursday's session for the top 10 cryptocurrencies was negative. The descent was led by ADA and DOGE. BTC fell below $22,000 at day's conclusion for the first price since January 19.
US economic indicators briefly improved on Thursday, with initial unemployment claims rising from 183k to 196k. However, after a poor 30-year bond auction, an increase in Treasury rates dampened risk appetite.
The NASDAQ Index lost 1.02% on the day as hawkish Fed talk permeated the entire day.
SEC Takes Action Against Kraken and Staking Services for US Consumers
The NASDAQ Index dampened investor interest, but the crypto market plunged into the negative due to SEC action and worries that US crypto staking might be outlawed.
Overnight, word spread that Kraken has decided to stop issuing or selling securities via its crypto asset staking programs, which were accessible on the websites of two exchange companies, Payward Ventures Inc. and Payward Trading Ltd.
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