The early 2023 crypto rally was indeed cut short last Thursday
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In the end of last week we noticed a noticeable decrease of Bitcoin price. To have a detailed look, we reached out to Orbex, to discover their view on this one.
On Thursday, Bitcoin decreased noticeably, what would you ascribe that decrease to?
The early 2023 crypto rally was indeed cut short last Thursday on news that the US Securities and Exchange Commission charged crypto exchange company Kraken over failing to register their staking-as-a-service program. Kraken agreed to pay a $30 million fine to the SEC, but then we had rumors circulating that the SEC would ban staking for retail investors altogether. This, in turn, sent shockwaves through the crypto markets and caused the latest crypto sell-off. It’s important to clarify however, that at this stage, staking ban fears are based on mere speculations and that there was no official statement by the SEC.
