Tag Archives: kraken

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 crypto exchanges has dropped from 11.85% to 6.65% over the past year. 📉 The overall supply of...

Kraken – a popular digital currency trading platform based in northern California – is laying off more than 1,000 employees as it attempts to deal with the ongoing crypto winter. Kraken Says Bye to a Lot of Workers The crypto exchange says that the maneuver has nothing to do with the fall of FTX, which has caused a serious firestorm in the digital currency world. The exchange collapsed in mid-November and has sent ripples throughout the space, making several other firms...

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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 a “fraudster.” He also thinks it will take time for relevant watchdogs and the government to discover the reasons for the catastrophe...

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 where it was 12 months ago. The firm said it was forced to grow fast over the past few years to keep up with client demand. ...

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 exchange, agreed to pay a fine of more than $362,000 to the Treasury Department’s Office of Foreign Assets Control (OFAC) for “apparently” violating U.S....

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Popular digital currency trading platform Kraken has announced it is cutting off all business with Russian customers, and the country will not be able to take advantage of its digital currency services. Kraken Ends All Russia-Based Services The big question to ask here is, “What the heck happened?” Back in March of this year, Kraken said that it was going to be one of the few digital currency exchanges that would not comply with present U.S. sanctions, and it wouldn’t...

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 late to the party and spent far too much money currying political favor. Although Powell will be retiring from the position...

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 exchange maintains full reserves. The exchange is ranked nineteenth largest by 24-hour volume, according to CoinGecko. Kraken has spoken with law enforcement...