FTX and its affiliated debtors have announced that their Chapter 11 reorganization plan will officially take effect on January 3, 2025. This day has also been designated as the initial distribution record date for those holding allowed claims in the plan’s convenience classes. Distribution Details According to a press release, payments for these claims are...Read More
The total amount raised in the crypto industry during October 2024 saw a significant increase of 96% month-over-month, reaching $1.76 billion. According to Messari’s latest report, this represents the highest level of fundraising activity since November 2023. 282 Crypto Deals in October The report shows that the deal count in October increased by 25% compared...Read More
Coinbase has announced the expansion of its wrapped Bitcoin product, cbBTC, to the Solana blockchain. Originally launched in September, cbBTC was initially available only on Ethereum and Coinbase’s native Layer 2 Base blockchain. Now on Solana, it will exist as a Solana Program Library (SPL) token, which can represent both fungible and non-fungible assets. Coinbase’s...Read More
On Nov. 5, crypto, venture capital, and fintech firms Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood announced the launch of the “Global Dollar Network.” The partners are combining resources and expertise to increase stablecoin adoption and expand real-world use cases with the launch of the Global Dollar USDG stablecoin. Paxos will be...Read More
Following over a decade of operating as one of the largest digital asset trading platforms, the United States-based crypto exchange Kraken has decided to launch its own blockchain. A Bloomberg report disclosed that Kraken’s network would likely go live in early 2025. The new blockchain, dubbed Ink, would be designed primarily for decentralized applications enabling...Read More
Kraken announced the launch of its own wrapped Bitcoin token custodied by the crypto exchange. Dubbed ‘Kraken Bitcoin (kBTC),’ the new product is a fully backed, cross-network-compatible ERC-20 representation of Bitcoin. According to the official blog post, kBTC is held at the cryptocurrency exchange’s Wyoming-chartered Special Purpose Depository Institution (SPDI) – Kraken Financial. kBTC is...Read More
Coinbase has announced a significant update for its users, enabling them to send Bitcoin to Taproot addresses on October 8th. This integration expands Taproot’s accessibility, enhancing privacy, scalability, and security. With the latest support, Coinbase has joined prominent crypto exchanges such as Binance, OKX, and Kraken. In its tweet, the crypto exchange stated, “We’re pleased...Read More
According to a September 7 report by Bloomberg, Premier League (PL) clubs have secured a record-breaking $170 million in sponsorship deals from crypto companies for the 2024/25 season. This uptick comes as league participants face tightening restrictions on gambling sponsorships, which have traditionally been a major source of revenue for them. Crypto Sponsorships on the...Read More
A cryptocurrency trader has made headlines by securing a profit of $131.72 million through a strategic investment in Ether (ETH). This notable trade was made during the 2022 bear market, after which the individual held onto the assets through volatile market conditions. The Investors Strategy Blockchain analytics firm Lookonchain has identified an Ether address that...Read More
Beginning in early July, the defunct crypto exchange – Mt. Gox – initiated repayments to creditors affected by the 2014 hack. While Kraken has completed the distribution of all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the former’s price remained stable. This could be due to the fact that creditors on Kraken...Read More
Leading crypto exchange Kraken has inked a partnership with one of England’s most iconic football clubs, Tottenham Hotspur. According to the official announcement, the alliance has made Kraken the crypto, web3, and the official sleeve partner for Tottenham Hotspur’s men’s and women’s teams ahead of the 2024/2025 football season. Kraken Partners With Tottenham Hotspur Kraken...Read More
Kraken Institutional, the specialized division catering to institutional investors of US-based crypto exchange Kraken, has announced the international expansion of its custody services into the UK and Australia. This move marks its first venture following its initial launch earlier this year. Kraken Custody’s Expansion According to the official press release, institutional clients in the UK...Read More
Kraken has announced the receipt of funds from the Mt. Gox Rehabilitation Trustees on July 16th. This marks a significant step towards compensating those impacted by the historic collapse of the Mt. Gox exchange a decade ago. In an email to the affected parties, the exchange said it plans to begin distributing Bitcoin (BTC) and Bitcoin...Read More
Jesse Powell, the co-founder and chairman of the cryptocurrency exchange Kraken, has donated $1 million in digital assets to the United States presidential campaign of the pro-crypto candidate Donald Trump. In a Friday tweet, Powell revealed that the donation was mainly in ether (ETH). The Kraken founder has now declared publicly his support for Trump...Read More
Crypto exchange Kraken says it got its money back from the “security researchers” that took $3 million from the platform this year. “Update: We can now confirm the funds have been returned (minus a small amount lost to fees),” tweeted Nick Percoco, Chief Security Officer for Kraken, on Thursday. Kraken Gets Its Money Back Though...Read More
Leading cryptocurrency exchange Kraken’s chief security officer Nick Percoco has revealed that an undisclosed white-hat hacker group has refused to return digital assets worth roughly $3 million, which they stole from the platform’s treasury by exploiting a bug in its system. In a series of X posts, Percoco said the security researchers are demanding that...Read More
Kraken, one of the oldest and largest cryptocurrency exchanges in the United States, is orchestrating a large funding round before a potential initial public offering next year, according to a new report from Bloomberg. Sources contacted by the outlet say the exchange likely aims to raise $100 million before the move. Kraken To Go Public?...Read More
Kraken and the US Securities and Exchange Commission (SEC) remain embroiled in a dispute, as the crypto exchange filed a new document questioning the accuracy of the regulator’s case. The development comes three months after Kraken filed a motion to dismiss the SEC’s lawsuit against it. SEC’s Case Isn’t Worded Correctly Kraken recently filed a...Read More
Kraken, the second-largest crypto exchange in the U.S., has introduced its self-custodial mobile wallet. Dubbed Kraken Wallet, the product follows in the footsteps of prominent platforms such as Binance, OKX, Coinbase, Bitget, and Bybit. Kraken Wallet’s Focus on Privacy and Self-Custody Kraken Wallet offers users a solution for managing their tokens, NFTs, and DeFi across...Read More
The Chamber of Digital Commerce (CDC) has filed an amicus curiae to defend Kraken in a lawsuit the U.S. Securities and Exchange Commission (SEC) initiated in 2023. Notably, the CDC supported the crypto exchange’s motion to dismiss the lawsuit in its latest filing. Chamber of Digital Commerce Argues for Kraken In a February 27 filing,...Read More
Major cryptocurrency exchange Kraken is seeking to dismiss the lawsuit filed by the US Securities and Exchange Commission (SEC), arguing that the Commission was overstepping the boundaries of its regulatory authority. The SEC sued Kraken in November 2023, alleging that the crypto exchange co-mingled customer funds and listed assets deemed as securities on its platform....Read More
Kraken, one of the leading cryptocurrency exchanges, revealed it had received a substantial increase in data requests in 2023. Among the key findings, the company disclosed that 28.2% of these requests originated from U.S. law enforcement agencies, marking a substantial portion of the total inquiries. Kraken Received Nearly 5,000 Inquiries Kraken, serving a vast clientele...Read More
Kraken has reportedly implemented a requirement for its users in the United Kingdom to verify their self-custodial wallets. According to a few recent posts, Kraken has commenced the implementation of this verification process, citing “regulations in the UK.” Verification Measures A snippet of the email shared by Van Straten outlined the necessity of maintaining current...Read More
New research by the cybersecurity reporters at 404 Media has uncovered a new tool named OnlyFakes that reliably generates fake IDs capable of bypassing KYC providers’ checks with relative ease. The fake documents can be generated with or without a background, which would suggest it is a picture that was just taken by a user...Read More
In his latest remarks, Kraken co-founder Jesse Powell spoke about the current state of the cryptocurrency industry amidst a backdrop of significant regulatory actions. Powell’s comments came shortly after a settlement between Binance and the U.S. Department of Justice, resulting in a $4.3 billion fine for Binance. Jesse Powell Critiques Regulatory Landscape In a recent...Read More
Jesse Powell, the co-founder of the cryptocurrency exchange Kraken, has slammed the United States Securities and Exchange Commission (SEC) over the agency’s latest legal move. In a tweet, Powell referred to the SEC as “USA’s top decel,” stating that the regulator has returned with another assault on America. Kraken Co-Founder Slams US SEC Powell’s comments...Read More
The U.S. Securities and Exchange Commission (SEC) filed a 90-page lawsuit against cryptocurrency exchange Kraken on Monday, re-centering the firm among a handful of crypto giants in the agency’s legal crosshairs. The lawsuit accuses Kraken of a slew of securities law violations, and of commingling customer funds with corporate assets in ways that could risk...Read More
United States-based cryptocurrency exchange Kraken is mulling launching its own layer-2 network, CoinDesk reported, citing people familiar with the matter. According to the report, the crypto exchange is considering using the technology of several blockchain firms, including Polygon Labs, Matter Labs, and Nil Foundation, as the base for the new network. Kraken Considers Launching Layer-2...Read More
Crypto exchange Kraken has confirmed that it plans to close all trading, deposits, and withdrawals for Tether USD (USDT), Wrapped Bitcoin (WBTC), and other reserve-backed assets in Canada. The suspension follows a similar stablecoin clampdown at other Canadian exchanges, amid regulatory guidance pertaining to the legal standing of such tokens. No More Value-Pegged Tokens At...Read More
To broaden its European business landscape, Kraken, an already prominent virtual currency exchange network, just declared its intention to acquire Coin Meester B.V. (BCM), a respected crypto broker based in the Netherlands. This strategic acquisition aims to cement Kraken’s foothold in the European region while enhancing compliance with the changing regulatory climate. Kraken Acquiring BCM...Read More
