Why the First US Crypto Bank Is a Big Deal

Kraken became the first crypto exchange to win a U.S. banking license this week. Here’s why that matters.

AccessTimeIconSep 19, 2020 at 1:00 p.m. UTC
Updated Sep 14, 2021 at 9:58 a.m. UTC
AccessTimeIconSep 19, 2020 at 1:00 p.m. UTCUpdated Sep 14, 2021 at 9:58 a.m. UTC
AccessTimeIconSep 19, 2020 at 1:00 p.m. UTCUpdated Sep 14, 2021 at 9:58 a.m. UTC

Kraken became the first crypto exchange to win a U.S. banking license this week. Here’s why that matters. 

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This episode is sponsored by Crypto.comBitstamp and Nexo.io.

On this edition of The Breakdown weekly recap, NLW looks at:

  • DEXetition – Uniswap’s battle with SushiSwap heats up as the former dropped the UNI governance token in what some likened to a crypto stimulus check 
  • The Fed has no clothes – After another FOMC meeting of “nothing new,” the mirage of Federal Reserve omnipotence is fading
  • TikTok and WeChat banned from U.S. app stores – Is it just a negotiating technique? Whatever the case, people are not happy
  • Kraken becomes a bank – What it means now that Kraken has been approved for a Wyoming Special Purpose Depository Institution charter

This week on The Breakdown:

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