Kraken Has No Plan to Delist Tokens Labeled as Securities by the SEC – Incoming CEO

The incoming CEO of Kraken cryptocurrency exchange, Dave Ripley, announced on Thursday the exchange has no plans to delist tokens the U.S. Securities and Exchange Commission (SEC) has labeled as securities or to register with the agency as a market intermediary.

In July, the SEC started scrutinizing Coinbase for listing several tokens on its platform the regulator identified as securities. As a result, crypto exchanges like Binance delisted some of the tokens that the watchdog recognized as a security in the recent Coinbase insider trading case.

But Ripley has said Kraken has no plans to remove those tokens from its exchange. The executive said Kraken sees no reason to register with the SEC as an exchange because his firm does not offer securities, despite calls from SEC chairman Gary Gensler for crypto platforms to register.

“There are not any tokens out there that are securities that we’re interested in listing. There could be some new token out there that becomes interesting and also happens to simultaneously be a security [and] in that case, we would potentially be interested in that path,” Ripley said.

Despite giant players in the crypto market like Celsius Network and Voyager Digital filing for bankruptcy, and others like Coinbase announcing layoffs, Ripley said Kraken is looking for opportunities for M&A in the current market environment. He said the exchange is open to even considering companies that are going through a bankruptcy process.

He, however, said Kraken would consider acquisitions that boost its product and tech portfolio, particularly as the exchange looks to widen its offerings with an upcoming platform for non-fungible tokens (NFTs) and banking services for institutional clients.

Why Kraken Rebrands as Libertarian?

Kraken has been a champion of libertarian values associated with cryptocurrency. And it seems the new CEO is keen to stay in that course as part of the company’s culture.

In March, Kraken refused to shut down Russian accounts unless regulators order it to do so. During that time, Kraken’s outgoing CEO Jesse Powell said the exchange was within legal sanctions requirements and was working with law enforcement to ensure banned accounts do not unfairly affect innocent Russians. Amid rising financial sanctions against Russia, Kraken refused to freeze of accounts for Russian users.

This week on Wednesday, Kraken announced that its often-controversial CEO Jesse Powell would step down and that Ripley, Kraken’s Chief Operating Officer, will assume the CEO role after the company hires a new COO.

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Exchange Tokens Recovers as Investors Focus on Utility

The cryptocurrency ecosystem is gradually seeing a comprehensive recovery, and while there is still a bit of volatility in the market, exchange tokens are on a bullish tear as investors return back to trading actions. 


The market plunged by shedding more than $200 billion in a couple of days this past week as every digital currency experienced a ripple effect of the fall of the Terra blockchain network. The LUNA coin lost 99% of its value while the protocol’s native token, UST, is currently changing hands at $0.1765 instead of $1 according to CoinMarketCap’s data.

How Exchange Tokens are Performing

Led by Binance Coin (BNB), the cryptocurrency of the world’s largest trading platform is up 6.32% to $297.72, a significant trading level considering its plunge to almost a 12-month low of $216.32 earlier in the week. Despite the broad-based sell-offs the coin has recorded, it is still ranked as the fifth-largest digital asset with the USD Coin (USDC) displacing it from the fourth position.

FTT, the native coin of the FTX Derivatives Exchange is changing hands at $31.45, up 3.5% in the past 24 hours. KuCoin Token (KCS) is also seeing a remarkable run in its price, equally surviving the similar onslaught that was experienced by its peers.

The cryptocurrency is up 11.34% to $13.57, a figure that is 52.53% from its All-Time High (ATH) of $28.80.

The rejuvenation seen in these exchange tokens is evident that demand is picking up from traders as many took the ‘wait and see’ approach amidst the extreme volatility that engulfed the ecosystem a few days ago.

Exchange tokens serve a very vital role in the functioning of their respective platforms, and unlike other tokens with limited utility, their rates of growth can be projected to exceed other prominent tokens in the medium to long term.

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5 year study: Can token rewards improve HIV patient outcomes in Africa?

A groundbreaking five-year study into whether crypto token incentives can improve health outcomes for patients with HIV/AIDS will be launched in Kenya by the end of the year.

On Nov 1, the blockchain-powered healthcare ecosystem Immunify.Life and the Masinde Muliro University of Science and Technology (MMUST) announced they had secured the approval needed from an ethics committee and the national commission to launch the study.

Together they will conduct a five-year study on HIV/AIDS starting before the end of 2021 in the Kakamega County region of Kenya, before extending throughout the rest of the country.

MMUST will use Immunify.Life’s blockchain technology to collect and analyze patient data to help improve the outcomes of HIV treatments. It will evaluate whether patients have better treatment outcomes if they are incentivized with token rewards for health-positive behaviors identified by project sponsors like NGOs and government institutions.

Immunify.Life CEO Guy Newing told Cointelegraph:

“The program we are testing will offer token incentives to encourage lapsed patients to present at the clinic for their treatment.”

Patients and doctors will be rewarded with Immunify.Life’s native ERC-20 IMM token. He added these could be offered for “completing a prescribed course of antibiotics for Tuberculosis,” and to incentivize, “HIV patient returning regularly to the clinic for their check-up and treatment.”

Newing said that health care workers will also be rewarded for positive behaviors such as “correctly filling out consultation records, ordering a certain number of tests for Tuberculosis, or completing medical education.”

Every patient who uses the platform is issued a nonfungible token (NFT) health ID that captures key medical data, like vaccination records. This data is then transferred to a digital registry to enable remote medical supervision and real-time data access for medical professionals.

The study’s sample size is 600 patients. Half will receive the token incentivization, and the other half will act as controls and will not receive token rewards. The patients will be monitored over six months and will receive active treatment and monitoring on a monthly basis.

The study will also track the efficacy of using paperless healthcare tracking systems in a low socio-economic area.

Source: Immunify.Life

Newing said that, “Critical Medical data treatment data can be captured in real time, time stamped and secured; it can’t be hacked or changed.” The platform will initially use a second-layer solution on Ethereum using Polygon, with long-term plans to bridge to Cardano.

Aside from the token rewards provided by sponsors, patients will also financially benefit from the sale of anonymized medical data. Immunify.Life is currently conducting a private round for Strategic and Institutional investors before its initial DEX offering (IDO) which is planned for early 2022.

“Patients will be empowered to take control of their data and share in the financial rewards. The system is funded by fees charged to organizations who fund and deliver the healthcare.”

In addition to work in HIV in Kenya, Immunify.Life is applying its blockchain technology in two other therapeutic areas, COVID-19 & Opioid addiction.

Related: How Blockchain Will Revolutionize Healthcare

Kenya is home to around 1.5 million people with HIV according to the 2020 UNAIDS report. While 70% of these patients undergo treatment, there are present difficulties around tracking, access, program design, and data collection.

Many people diagnosed with HIV are unable to continue with treatment. In some areas, the number of ‘lapsed’ patients can reach up to 40%, according to Immunify.Life. This includes pregnant women, who can pass on the virus to their child during birth.


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