Roughly $220M in liquidations driven by Kraken settlement with SEC

• Crypto exchange Kraken will discontinue its staking services as part of a settlement with the SEC, according to a press release from the regulator on Feb. 9.
• The settlement triggered a sell-the-news event and caused panic in the crypto industry.
• This triggered mass liquidations, roughly $200 million worth of long and $20 million of short liquidations, the highest amount since mid-January.

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