Crypto’s $92 Billion Staking Industry Is in Line for a Shake-Up

A lucrative corner of crypto that’s fast becoming the lifeblood of the way many networks operate got a shock to the system this week.

The US Securities and Exchange Commission on Thursday signaled a crackdown on platforms offering rewards to their customers via a process called staking, as it reached a settlement with trading platform Kraken for $30 million and won agreement from the exchange to shut down those offerings domestically. It’s possible other providers such as larger rival exchange Coinbase Global Inc. may feel the heat and follow suit in discontinuing their own staking services, experts said — or ...