The biggest crypto news and ideas of the day 

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Welcome to The Node! This is Ben Schiller to take you through the latest crypto news. 

Here are the top stories from CoinDesk's reporters today:
Kraken Sheds ‘Hundreds’ of Jobs to Streamline Business Ahead of IPO, Sources Say
HashKey Capital to Debut Asian XRP Tracker Fund With Ripple as Anchor Investor
Leaders of $190M Brazilian Crypto Ponzi Scheme Sentenced to Over 170 Years in Prison
Friends With Benefits Grows Up

Opinion: Bitcoin Isn't Digital Gold, Yet 
Bitcoin, rather than behaving as a digital gold, has solidified as a proxy for risk, validating FX market participants who track it as a gauge of speculative sentiment, says CoinDesk's Omkar Godbole.