​​Is Kraken’s Settlement With the CFTC Actually Bullish?


This episode is sponsored by NYDIG.

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Today on “The Breakdown,” NLW looks at the $1.25M settlement Kraken just finalized with the Commodity Futures Trading Commission, which accused the crypto exchange of offering margin lending products without the proper licensing. Many noted the small size of the settlement suggested a more lenient CFTC. More important, however, was CFTC Commissioner Dawn Stump’s concurring statement, which called upon her colleagues to replace the current guidance – nearly four years old in concept at this point – with real, formalized rules.

Also today on the Brief:

  • Elizabeth Warren lambastes Fed Chair Jerome Powell
  • A positive new crypto mining bill from a bipartisan source
  • Ripple launches a $250 million NFT fund

See also: Gensler Reiterates Support for Futures-Based Bitcoin ETFs

“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Marilyn Nieves/E /Getty Images, modified by CoinDesk.