Recall that Kraken reached a settlement deal with the SEC yesterday after months of regulatory probes over unregistered securities offered as staking services. The exchange agreed to pay $30 million in disgorgement and civil penalties and discontinue its staking platform. Key takeaway heading into quarterly earnings From our own experience, asking recent business school grads to combine financial concepts into a digitized asset, people are stuck at the part where either the technological jargon gets too complicated, or the financial jargon starts to get so complicated that whatever orchestration of transaction that’s intended to occur on a peer to peer basis leveraging financial contracts gets obfuscated by the technical hurdles and difficulty in communicating the viability of a new technology plus differentiated financial product. Basically, it’s really hard to generate any scale or amass any adoption for new financial products let alone the launch of a successful cryptographically based financial product.
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