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Crypto Evening Briefing: Kraken Is Planning To Launch Its Own Bank

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Kraken Is on Track To Launch Bank ‘Very Soon’ Despite Regulatory ‘Weird Place’

Kraken is moving ahead with plans to launch its own bank despite a challenging regulatory environment and the recent shuttering of its on-chain staking services for U.S. clients to settle U.S. Securities and Exchange Commission charges that it violated securities laws. 

Singapore Police Have Begun Probing Crypto Fugitive Do Kwon’s Terraform Labs

Singapore police said they have begun a probe linked to Terraform Labs Pte, the company co-founded by crypto fugitive Do Kwon.

Crypto Funding Seen Shifting From CeFi to DeFi After Major Collapses: CoinGecko

Digital asset investment firms poured $2.7 billion into decentralized finance (DeFi) projects in 2022, up 190% from 2021 as investments into centralized finance (CeFi) projects went the other way — falling 73% to $4.3 billion over the same timeframe.

Babel Finance Mulls Crypto-Backed Stablecoin to Repay $766M: Report

Troubled Hong Kong crypto lender Babel Finance is planning on issuing a crypto-backed stablecoin in unison with a decentralized finance (DeFi) platform in an attempt to repay creditors following a $766 million loss last year, according to a Bloomberg report.

Bybit Introduces Mastercard-Powered Debit Card Days After Halting USD Transfers

Bybit is set to launch a new debit card offering that will allow users to make payments and withdraw cash using cryptocurrency holdings. The Bybit Card will operate on the Mastercard network and will allow for fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. 

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $22,419.86 USD, dropped by 0.08% in the last 24 hours;

ETH’s live price is $1,566.70 USD, dropped by 0.26% in the last 24 hours;

BNB’s live price is $285.28 USD, dropped by 2.18% in the last 24 hours;

XRP's live price is $0.3642 USD, dropped by 2.07% in the last 24 hours.

Fundraising News

WGFdesocial Has Secured $20million Seed Funding Led by Dao Venture Capital

WGFdesocial, multi-chain privacy communication protocol based on blockchain technology, has secured $20million seed funding led by Dao venture capital. Humza Saleem, the co-founder and chief CEO of WGFdesocial, said that this is a completely decentralized social app without any collection of user’s information.

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