Kraken Offers Contestants Chance to Choose NFTs on Williams Racing F1 Cars for US Grand Prix
Kraken has announced a new sweepstakes, offering winners the opportunity to choose which NFT appears on one of two Williams Racing cars competing in the upcoming U.S. Grand Prix. The crypto exchange hopes to increase customer engagement and expand its customer base through its partnership with the Formula 1 team. Kraken previously announced plans to showcase customer-owned digital collectibles on its cars throughout the F1 season, following in the footsteps of other crypto companies such as FTX and Mysten Labs. Despite regulatory uncertainties, Kraken aims to continue its recent growth in the U.S. market.
Kraken Cryptocurrency Exchange Resolves Issues With Ethereum Funding Gateway
Kraken, a cryptocurrency exchange, announced on Sunday that it has resolved issues with Ethereum's funding gateway. The exchange stated that all systems are now operational but did not provide any details on the cause of the issue. Earlier on Sunday, Kraken had reported that it was investigating the issue, which could have caused delays in deposits and withdrawals. Ethereum is the second-largest cryptocurrency in the world.
Craig Wright Ordered to Pay £400,000 in Security for Legal Costs in Crypto Lawsuit Against Coinbase and Kraken
Australian computer scientist Craig Wright, who claims to be the creator of Bitcoin, Satoshi Nakamoto, has been ordered by a UK judge to pay £400,000 ($516,000) in security for legal costs to pursue claims against crypto exchanges Coinbase and Kraken. The judge expressed doubts about Wright's ability to fund the legal costs, citing inconsistent statements about his financial position. Wright alleges that Coinbase and Kraken are damaging the brand of his rival cryptocurrency, Bitcoin Satoshi Vision (BSV). The exchanges have welcomed the ruling as a win in their defence against Wright's claims.
Kraken's Chief Legal Officer Reveals the Stringent Process for Listing Crypto Assets on the Exchange
Kraken's chief legal officer, Marco Santori, has revealed that the exchange carries out a thorough compliance, cybersecurity, and legal review process before listing any crypto assets for trading. Santori explained that Kraken selects only a few tokens from thousands of options based on the business case and user interest. The chosen assets then undergo a compliance review for sanctions laws and politically exposed persons, a cybersecurity check, and a legal review to ensure they are not securities.
Kraken’s Crypto Facilities Appoints Hedge Fund Veteran as CEO To Boost Institutional Derivatives Offerings
Kraken has appointed Mark Jennings, a hedge fund veteran, as CEO of Crypto Facilities, its UK-based cryptoasset derivatives trading facility for institutions. The platform provides regulated access to cryptocurrency futures to a global client base, with the majority being based in the UK and Europe.
Ethereum Price Rises as Dormant ICO Participant Sells $116 Million in ETH via Kraken
The price of ETH has increased by 0.5% in the past 24 hours, reaching $1,919 after a previously inactive participant in the Ethereum ICO sold $116 million of the token via Kraken. Despite this large sale, ETH has risen by 2% in the last seven days and by 11% in the last 30 days, and has increased by 60% since the beginning of the year.
Dormant Ethereum ICO Participant Moves $116 Million Worth of ETH After 8 Years
An Ethereum ICO participant who had been inactive for over eight years has resurfaced and transferred 61,216 ETH, worth over $116 million, to crypto exchange Kraken. The participant had received the ETH for only 31 cents a coin at Ethereum's Genesis, worth around $18,980 at the time.
A Dormant 8-Year Giant Whale Address Transfers 61,216.4 ETH (~$116 Million) to Kraken
According to Whale Alert's monitoring data, an address that has been dormant for 8 years has just been activated. On-chain information shows that the address has transferred 61,216.4 ETH (~$116 Million) to Kraken.
Kraken’s U.S. Spot Volume Doubles in 18 Months, Fueled by Kraken Pro App and Increased User Activity
Kraken, a crypto exchange, has seen its share of U.S. spot volume more than double in the past 18 months due to increased interest in the Kraken Pro app. The platform has also experienced a five-fold increase in users from January to June 2023.
Kraken Teases Potential Listing of Reddit Moons, Native Token of r/CryptoCurrency Users
The native token of r/CryptoCurrency users on Reddit, Moons, saw a surge in value on Monday after representatives from Kraken hinted that it could potentially be listed on the exchange. Moons doubled in value, rising 104% to $0.19 over the past 24 hours. Reddit users earn Moons based on their activity in the subreddit and can use them for tipping between users.
