Kraken: We do not agree with the US SEC’s claims and will continue to provide services to customers uninterrupted
On November 21st, Kraken, a cryptocurrency exchange, responded to the Securities and Exchange Commission's (SEC) lawsuit, which accused Kraken of operating as an unregistered national securities exchange, broker, and clearinghouse. Kraken disagreed with the allegations and plans to vigorously defend its position. The news today has no impact on the products Kraken provides and the company will continue to provide uninterrupted service to its customers.
Kraken Crypto Exchange Accused of Commingling Customer and Corporate Funds in SEC Lawsuit
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Kraken, accusing the crypto exchange of violating federal securities laws by commingling customer and corporate funds while operating as an unregistered broker, clearing agency, and dealer. The SEC alleges that Kraken created a "significant risk" by commingling up to $33 billion in customer crypto with its own corporate assets and holding more than $5 billion worth of its customers' cash. The regulator also claims that Kraken has paid operational expenses directly from bank accounts that hold customer cash. The SEC has previously filed similar suits against Binance and Coinbase, and settled allegations against Bittrex's now-shuttered U.S. wing.
1,750 BTC transferred from Kraken to Bitfinex.
Whale Alert monitored that at 22:31 today Beijing time, 1,750 BTC (worth about $63,596,190) was transferred from Kraken to Bitfinex.
BitMEX founder transferred 331,470 SUSHI to Kraken 3 hours ago
According to Yu Jin's monitoring, BitMEX founder Arthur Hayes transferred 331,470 SUSHI coins (worth $340,000) to Kraken 3 hours ago.
10 minutes ago, 4,000 BTC were transferred from Bitfinex to Kraken
Whale Alert has monitored that around 22:11 Beijing time, 4,000 BTC ($146,311,274) has been transferred from Bitfinex to Kraken.
Wintermute address withdrew $1.03 million worth of YGG from Kraken 22 hours ago
Wintermute withdrew 2.5 million YGG (worth $1.03 million) from Kraken 22 hours ago, as monitored by The Data Nerd. The same address also received 815,500 YGG from the Yield Guild Games treasury wallet 4 days ago.
Kraken will perform a system upgrade at 16:00 today, which will last approximately 15 minutes.
Kraken Support posted on X platform that Kraken will conduct a system upgrade at 16:00 today. The Kraken spot trading website and API will be unavailable and is expected to last for about 15 minutes.
100 million USDT transferred from Tether Treasury to Kraken
According to WhaleAlert monitoring, at 01:19:03 Beijing time today, 100,000,000 USDT (worth 99,805,750 USD) was transferred from Tether Treasury to Kraken.
56.31 million USDT transferred from Tether Treasury to Kraken
Whale Alert monitoring data shows that about 7 minutes ago, 56,310,000 USDT ($56,306,762) was transferred from Tether Treasury to Kraken.
Kraken helps UK police return over $2 million in stolen cryptocurrency to victims
With the assistance of the cryptocurrency exchange Kraken, the Southeast Regional Organized Crime Unit (SEROCU) in the UK has successfully returned stolen cryptocurrency worth approximately £1.9 million ($2.3 million) to its rightful owner. In order to legally return the stolen funds to the victim, SEROCU needed to convert the cryptocurrency into pounds and worked with the UK financial regulatory authorities, the Financial Conduct Authority, the National Police Chiefs' Council, and Kraken, which is registered with the FCA, to successfully process the refund.
