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
BlackRock – the world’s largest asset manager – has partnered with Kraken’s subsidiary CF Benchmarks to assist with its newly established Bitcoin Trust. According to a report from The Block, BlackRock’s Bitcoin product will be benchmarked using CF Benchmark’s indexes. CF Benchmarks is a member of the Crypto Facilities Group, of which is part of...Read More
The shutdown of Tornado Cash by the US Treasury Department on August 8 has made Kraken CEO Josse Powell question the constitutionality of the decision. In an interview with Bloomberg TV on Tuesday, Powell doubted if the Treasury’s move will withstand judicial scrutiny. Tornado Cash allows users to conceal sources and destinations of funds by...Read More
Kraken – a popular US cryptocurrency exchange – is reportedly being investigated by the Treasury Department for allegedly servicing sanctioned Iranian users. The department is expected to levy a fine against the exchange. Would Kraken Break the Law? As reported by the New York Times, the investigation was revealed by five people affiliated with Kraken....Read More
Jesse Powell, founder and CEO of popular cryptocurrency exchange Kraken, recently commented on the company’s latest corporate culture document emphasizing the need for a “crypto-first culture.” Internal Debates on Kraken According to Powell, Kraken recently had some heated internal debates, and a small group of 20 employees out of the company’s 3,200 staff were not...Read More
Jesse Powell – CEO of Kraken – explained on Friday why his exchange decided to list Terra 2.0 despite the collapse of the original chain. Many in the crypto community showed skepticism of the move, given Terra’s loss of credibility over the past month. Listing Isn’t Endorsement When questioned about the listing, Powell explained that...Read More
The veteran US exchange is the latest to receive a license to function as a virtual asset trading platform in Abu Dhabi. Thus, Kraken follows a similar example set by other industry giants such as Binance and FTX. In an attempt to enhance the nation’s cryptocurrency engagement, the UAE has been among the leaders in...Read More
Kraken’s CEO decided to close the company’s headquarters in San Francisco after blaming the city for being incapable of ensuring public safety. San Francisco Is not Safe Jesse Powell, the CEO of Kraken, released a statement that the company has closed the headquarters office located in San Francisco “after numerous employees were attacked, harassed, and...Read More
The leading cryptocurrency exchange – Kraken – will give $1,000 in bitcoin to each Ukrainian citizen who opened an account on the platform before March 10th. The initiative is designed to help those in need after Russia launched its “special military operation” in the country. Kraken’s Support to Ukrainians The list of companies, trading venues,...Read More
The CEO of Kraken, Jesse Powell, has responded to Mykhalio Fedorov – the Vice Prime Minister of Ukraine, who asked cryptocurrency exchanges to downright ban Russian users from their platforms. As CryptoPotato reported yesterday, the Vice PM of Ukraine asked cryptocurrency exchanges to halt servicing Russian customers. The CEO of Kraken – one of the most popular...Read More
The Ontario Securities Commission (OSC) recently flagged Brian Armstrong and Jesse Powell – CEOs of Coinbase and Kraken respectively – for tweets surrounding Canada’s freedom convoy protests. Each has been accused of offering advice on how to evade national financial emergency restrictions through the use of self-custodial crypto wallets. Crypto CEOs Against Canada’s Government According...Read More
Leading cryptocurrency exchange Kraken announced on Thursday the results of a proof-of-reserve audit, showing that it holds over $19 billion worth of Ether (ETH) and Bitcoin (BTC). Almost $20 billion Stored on Kraken As per a blog post, the audit was conducted by Armanino LLP, a consulting and technology firm in the US. The results...Read More
The CEO and founder of the veteran US crypto exchange – Jesse Powell – explained that the company is currently developing an NFT marketplace. However, he said it will have new features, including allowing customers to use their digital collection as collateral to borrow funds against. Powell outlined the company’s plans in a recent interview...Read More
Kraken is stepping up its crypto game. After a successful year, the U.S. exchange decided to close 2021 with the acquisition of Staked, thus expanding its token staking capabilities and generally improving the quality of its services. Staked is a non-custodial crypto staking platform, which facilitates the secure storage of assets while providing attractive yield...Read More
The Bitcoin (BTC) market looks tepid as it heads towards the end of 2021. While CoinMarketCap’s early Christmas cheer turned out to be a glitch, the regulators wrestling to bring the $2.2 trillion market under government oversight has further delayed the chances of a potential relief rally. With only a fortnight left, Bitcoin predictions are...Read More
The crypto exchange Kraken does not want to lag behind in the race to dominate the global cryptocurrency market and is actively working on expanding beyond the United States. The first and also the most challenging destination is Europe. In an interview for the German news outlet Handelsblatt, Jesse Powell, CEO of Kraken, said that...Read More
The skyrocketing demand towards cryptocurrency assets has pushed the veteran US exchange Kraken to release a mobile application in the country. In another development coming from American exchanges, Coinbase integrated its debit card with Apple Pay and Google Pay. Kraken Mobile App Arrives in the US Founded almost a decade ago, Kraken is among the...Read More
A Californian court required Kraken to provide information on users who executed crypto deals for the equivalent of $20,000 or more between 2016 and 2020 to the IRS. The order comes amid growing concerns of strict cryptocurrency regulations coming for the United States. ‘John Doe Summons’ for Kraken A federal court in the northern part...Read More
