Kraken Achieves $20 Billion Valuation With $200 Million Investment From Citadel

Coinbase CEO Brian Armstrong has publicly opposed a draft Senate bill concerning cryptocurrency, warning that it poses a threat to decentralized finance (DeFi) and tokenized equities, while also indicating potential overreach by the SEC. Senator Cynthia Lummis has suggested that discussions regarding the bill may be postponed.

Coinbase CEO Brian Armstrong has publicly rejected the U.S. Senate Banking Committee's latest draft of the CLARITY Act, arguing that it would worsen the regulatory environment for the cryptocurrency industry in the United States. Armstrong expressed concerns about the bill's implications for crypto operations and innovation.

Coinbase has withdrawn its support for a proposed cryptocurrency market structure bill, with CEO Brian Armstrong citing numerous issues with the legislation. This decision reflects ongoing challenges in the regulatory landscape for digital assets.

The Zcash Foundation announced the conclusion of an investigation by the U.S. Securities and Exchange Commission (SEC), which began with a subpoena regarding certain crypto asset offerings. This decision has led to a 12% increase in the price of Zcash's native token, ZEC, and a 39% surge in trading volume over the past 24 hours.

A special purpose acquisition company (SPAC) affiliated with the cryptocurrency exchange Kraken has filed for a $250 million initial public offering (IPO) on Nasdaq, as indicated in a registration statement submitted to U.S. regulators on January 12. This move marks a significant step for Kraken as it seeks to expand its presence in the public markets amidst a fluctuating cryptocurrency landscape.