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Dave Portnoy claims he collects memecoins “as a hobby,” even though he’s earned at least $70,000 and promoted five tokens that have declined at least 97%. Portnoy started his career covering sports and pizza shops, then started daytrading to keep his gambling audience entertained during the COVID-19 sports shutdown. Nowadays, he’s a proudly degenerate crypto promoter who has pumped and issued memecoins and even lists them in his X bio.  For example, he promoted MONTOYA at 1:38pm New York time at a market cap of $2.75 million, and it hit $9.95 million within two minutes.  The Solana-based token, named after a participant in a Spanish TV show Love Island, has declined 99.7% to under $25,000 as of publication time. Portnoy’s original memecoin was Stool Prisondente, ticker symbol JAILSTOOL. Somebody purposefully misspelled his X username, StoolPresidente, as a joke to taunt the Securities and Exchange Commission (SEC) and the Commodity Futures Trading ...

Kraken has reintroduced on-chain staking for US clients in 39 states, enabling users to stake 17 assets, including Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA). The US centralized exchange was forced to end its staking service in February 2023 as part of a settlement with the US Securities and Exchange Commission (SEC), which included a $30 million fine. The agency alleged that the exchange offered unregistered securities to clients through its staking-as-a-service initiative. Trump’s Crypto Policy Changes Impact On Kraken’s Move Kraken said yesterday that customers in the 39 eligible states can use Kraken Pro to participate in bonded staking, where tokens are locked for a set period of time depending on the blockchain network.  Kraken’s move to reintroduce staking to US customers follows President Donald Trump’s first crypto executive order, which aimed to clarify crypto regulations and foster a more favorable environment for digital...

A California federal judge has rejected a bid by crypto exchange Kraken to appeal his decision to let the company’s lawsuit with the US Securities and Exchange Commission (SEC) proceed. In a Nov. 18 order , Judge William Orrick dismissed Kraken’s motion for an interlocutory appeal. He stated that he determined the SEC has “adequately alleged” that the cryptocurrencies traded and sold on Kraken’s platform qualified as investment contracts under the Howey test and are therefore subject to securities laws.  Kraken Argues Cryptos On Its Platform Don’t Meet The Requirements Of The Howey Test The Judge’s order comes after Kraken asked for permission to appeal the August rejection of its motion to dismiss. Kraken’s legal team argued that there was “substantial ground for difference of opinion” regarding securities laws which a higher court could answer to potentially resolve the case early.  Kraken also questioned whet...

Kraken is reportedly considering pulling support for the stablecoin USDT in Europe. The exchange’s plans come amid the push for compliance ahead of EU’s crypto regulations MiCA. Crypto exchange OKX ended its USDT trading support in the EU in March. Kraken is considering a move that would see the crypto exchange end its support for the Tether (USDT) stablecoin in Europe. A Bloomberg report published on Friday, May 17, noted that the crypto exchange was “actively reviewing” this position. Kraken eying USDT delisting ahead of EU’s MiCA rules According to the report, Kraken is looking at ending USDT support for the market ahead of the region’s Markets in Crypto-Assets (MiCA) regulation roll out date. The delisting of USDT for the exchange’s EU users is part of the compliance procedure. Crypto exchanges and other providers with operations in the EU know that MiCA’s stablecoin rules are set to come into effec...

Crypto exchange Kraken signed a partner ship deal with Formula 1’s Williams Racing. The collaboration aims to foster global crypto adoption.   Fostering financial inclusivity Kraken expects the Formula 1 partner ship to promote a shared vision for the future of finance and community engagement.  As detailed in a Kraken blog post, both organizations strive to nurture a common vision for the future of finance and community involvement. The partner ship will see Kraken become the team’s first-ever ‘Official Crypto and Web3 Partner,’ with the Kraken logo displayed on Williams Racing’s FW45 race car during the Formula 1 Rolex Australian Grand Prix 2023.  The partner ship aims to drive global awareness and adoption of crypto and Web3, and offer fans cutting-edge crypto and Web3 experiences As part of this collaboration, unique digital collectible experiences will be created to engage crypto and motorsport communities. For the first time, holders of specific digi...

Reddit’s community tokens have been making noise in the crypto market lately. Over the last couple of days, they have registered triple-digit gains. The platform’s r/CryptoCurrency community has over 6.6 million members. Its native token, Moons [MOON], inclined from its Sunday low of $0.09 to $0.35 earlier today. Source: Reddit MOON is typically an ERC-20 token. Users get this token as a reward for their posts and comments in the r/CryptoCurrency sub rEDDIT . MOON can be traded, tipped, or spent by users. Also, if users want, they can store their tokens in Reddit’s Ethereum-based wallet, Vault. Even though the buying pressure peaked, the price of the asset failed to continue hovering around its recent high. At press time, it was down to trading at $0.27. Nevertheless, its ROI over the past three days stand around 200%. CryptoCurrency Moons/USDT by TradingView Also Read: ARK Sells ~250,000 Coinbase Shares Amid Staking Vulnerability Another prominent...

Joined the Silvergate Exchange Network back in 2019, Kraken is now looking for new ACH funding options. Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate. Kraken has reportedly notified its users that it will be unable to support ACH deposit s and withdrawals starting from March 27. According to multiple online reports by alleged Kraken users, Kraken sent an email notice with the announcement on March 22. In the statement, Kraken specified that users will no longer see a deposit option via Plaid or withdrawal option via ACH Silvergate beginning March 27. “No other services will be affected by this change, including ACH instant purchases via Online Banking,” the firm noted. Kraken has advised users to take a look at the other available funding options in order to ensure uninterrupted funding experience, including MVB Bank for Fedwire deposits and withdrawals as well as...