Craig Wright is not someone to stay out of the spotlight for a long time. In the latest development, the self-proclaimed Bitcoin creator was ordered to pay approximately $516,000 (400,000 British pounds) in security covering legal costs to pursue claims against crypto exchanges Coinbase and Kraken. The lawsuit against Coinbase and Kraken’s parent company Payward...Read More
The Federal Bureau of Investigation (FBI) reportedly searched the residence of Jesse Powell – founder and former CEO of crypto exchange Kraken – earlier this year. The investigation came a few months after a nonprofit organization accused him of hacking and cyberstalking activities. The FBI has targeted other crypto-related individuals in the recent past, with...Read More
The SEC’s subsequent enforcement actions, first against Ripple and XRP, followed by Binance and Coinbase, have contributed to the sufferings of other crypto exchanges from a liquidity standpoint. There has been a major shift in the CEX landscape that has already faced challenges following the FTX implosion. A new report suggested that a slow recovery...Read More
Kraken has been ordered to turn over sensitive user information for clients that had transactions worth in total over $20,000 over the course of a year. The tax agency said it wants to determine whether crypto investors have been cheating on their tax reports. The IRS filed the initial court petition in the Northern District...Read More
With the long-awaited Shapella upgrade just around the corner, crypto exchange Kraken is preparing to withdraw all staked ETH on behalf of its clients as soon as possible after the update rolls out. The event will bring Kraken’s staking as a service product to a complete close, after being forced by regulators into shuttering the...Read More
Starting this weekend, the Kraken logo will be exposed to millions of users thanks to the exchange’s partnership with the famous Formula 1 racing team, Williams Racing. On March 28th, Kraken, one of the largest cryptocurrency exchanges worldwide, announced the signing of a sponsorship agreement with Williams Racing, considered one of the four top Formula...Read More
Kraken has had a tough time with the United States regulatory agencies. Despite the difficult environment, the crypto exchange is planning to roll out its own bank. Marco Santori, Kraken’s chief legal officer, revealed Kraken Bank is very much on track to launch. Kraken Bank According to Kraken Support, the offering will initially be available...Read More
Cryptocurrency exchange Kraken is stepping away from Signature Bank for processing certain transaction types due to decisions made by the New York-based banking firm. From now on, non-corporate clients cannot deposit or withdraw dollars from Kraken through Signature. As reported by Bloomberg Law on Wednesday, deposits to Kraken using Signature will cease on March 15,...Read More
It’s only been a few days since Kraken, one of the largest exchanges in the U.S., shut down its staking services and paid a $30 million settlement over selling – according to the SEC – unlicensed securities. Despite compliance with regulators and a commitment to proof of reserves, both Kraken and Binance have been under...Read More
According to the latest edition of CoinShares’ weekly report, outflows in digital asset investment products reached $32 million last week, a level not seen since late December 2022. The sentiment could be attributed to exchange-traded product (ETP) investors being less optimistic about recent regulatory pressures in the US relative to the wider market. Bitcoin Bears...Read More
Following the Securities and Exchange Commission (SEC)’s crackdown against Kraken’s staking service on Thursday, one of its members is railing against her agency’s decision. Hester Peirce – aka ‘Crypto Mom’ – issued a statement on Wednesday arguing that the SEC’s enforcement action is neither “efficient nor fair,” and that exchanges were never given a realistic...Read More
Kraken’s generated trading volume for the past 24 hours increased by almost 15%. The surge contrasts with the company’s issues prompted by the recent SEC investigation and the consecutive termination of staking services. Data extracted from CoinMarketCap and CoinGecko revealed that Kraken’s 24h trading volume stands at around $757 million, or a 14% increase. Based on numerous factors,...Read More
The stock of leading U.S. cryptocurrency exchange Coinbase (COIN) has suffered its biggest daily loss in seven months after the country’s Securities and Exchange Commission (SEC) forced rival exchange Kraken to shut down its crypto staking services in a $30 million settlement deal. The decline in COIN’s value can be attributed to the fact that...Read More
Bitcoin fell back to $22,000 on Thursday shortly after the Securities and Exchange Commission (SEC) laid charges against Kraken for the unregistered offering of its staking services. Kraken agreed to halt the service and pay $30 million in disgorgement, prejudgment interest, and civil penalties, without admitting to or denying any wrongdoing. According to the SEC’s...Read More
The United States Securities and Exchange Commission (SEC) is probing major American crypto exchange Kraken over its unregistered securities offerings to U.S. investors. The investigation has gotten to an advanced stage, and Kraken will likely settle with the SEC in the coming days, Bloomberg reported Wednesday, citing people familiar with the matter. Kraken Under Scrutiny...Read More
The prolonged bear market reduced the interest in cryptocurrencies and hampered the operations of numerous industry players. Some leading exchanges, including Coinbase, Crypto.com, Bybit, and Kraken, laid off a chunk of their workforce to cope with the challenging times. The trend seems to be similar at the start of the new year despite the recent...Read More
The digital asset markets have been shaky in the past year, but the blockchain sector continues to scale as demand intensifies from both crypto-native as well as traditional institutions eyeing to leverage the space. Decentralized smart contracts platform Injective is the latest to announce a new $150 million ecosystem initiative to spur the adoption of...Read More
The fall of Sam Bankman-Fried’s $32 billion crypto empire highlighted the importance of self-custody for users. In fact, investors have already hopped on the trend of holding their assets themselves rather than entrusting their hard-earned money to a third-party platform. According to the latest data compiled by crypto analytic company, Santiment, Bitcoin’s supply on centralized...Read More
Kraken announced plans to shut operations in Japan again, citing a weak global crypto market as well as market conditions in the East Asian country. In a statement, the San Francisco-based crypto exchange said it will deregister from the Financial Services Agency on January 31, 2023. Kraken explained, “Current market conditions in Japan in combination...Read More
Dave Ripley – the incoming CEO of crypto exchange Kraken – said he has inside information that FTX scammed its users. He expects more contagion from the crisis, assuring that his entity would not be affected. More Pain Coming In a recent interview for Bloomberg, Ripley described Sam Bankman-Fried (former CEO of the bankrupt platform FTX) as...Read More
Kraken is the latest cryptocurrency exchange that’s been forced to downsize in the face of macroeconomic headwinds and a devastating crypto bear market. According to an announcement from the firm on Wednesday, leadership has been forced to slash 30% of its workforce, amounting to 1100 workers. The reduction in size takes Kraken’s headcount back to...Read More
The U.S. Office of Foreign Assets Control (OFAC) has made it clear that it will keep imposing fines on cryptocurrency exchanges for alleged violations of the U.S. sanctions system. This time it was the turn of Kraken, one of the oldest crypto exchanges in the U.S. Who will be next? Kraken, a well-known American crypto...Read More
As the public opinion of former crypto hotshot Sam Bankman-Fried continues to wane, criticism aimed at him and his business is only growing fiercer. Jesse Powell, Kraken’s current CEO, who will be stepping down shortly, already criticized Sam Bankman-Fried for his attitude and hubris. According to Powell, SBF acted like he knew everything despite being...Read More
On Nov. 13, the Kraken exchange announced that it has been in contact with law enforcement regarding the accounts held by the bankrupt FTX group. It added that it had frozen any accounts linked to FTX, Alameda, and its executives to protect their creditors. Kraken said that its own clients are not affected, and the...Read More
The past few days were unnerving as the crypto industry watched the fall of FTX, one of the world’s largest crypto exchanges. With FTX now insolvent, some of the biggest and oldest players in the space have started expressing disappointment at the company’s CEO, Sam Bankman-Fried (SBF), popularly known as crypto’s white knight. Jesse Powell...Read More
The US-based cryptocurrency exchange – Kraken – joined the list of platforms restricting services to Russian consumers. The decision comes as a result of the latest sanctions that the European Union (EU) imposed on the largest country by landmass for its invasion of Ukraine. Other trading venues that have already ended ties with Russian users...Read More
Change is in the air as the crypto space continues to see top executives step down from their roles amid the market crisis that stemmed from the Terra Luna fiasco and the Federal Reserve’s continuous interest rate hike, which negatively impacted the global financial market. The change in crypto-related executive leadership started with Twitter co-founder...Read More
The firm’s former chief operating officer, Dave Ripley, will assume the role of CEO after it hires a new COO. The news follows the shock announcement last week that Kraken founder Jesse Powell will be stepping down after more than a decade at the helm. Ripley also stated that the exchange has no intentions of...Read More
The news of Jesse Powell, the CEO of Kraken, stepping down from the position at the cryptocurrency exchange he founded in 2011 is a significant shake-up. The exec recently came under fire for allegedly “fostering a hateful workplace and damaging their mental health,” according to a New York Times feature. But Powell believes the entire...Read More
Jesse Powell, the chief executive officer (CEO) and co-founder of major cryptocurrency exchange Kraken, will step down from his position after leading affairs at the company for more than a decade. This is yet another leadership change in crypto-related companies in the past several months. According to a press release on Wednesday (August 21, 2022),...Read More
