Crypto Exchanges Battle for Dominance in US Market Amid Regulatory Crackdown
Crypto exchanges Coinbase and Binance.US have lost market share in the United States following regulatory crackdowns and lawsuits by the SEC. Rivals Kraken, Bitstamp, and LMAX Digital have seen their market shares increase, with Kraken now holding around 29% of the market share.
YouTuber Teams up With Kraken to Take Down Call Center Crypto Scam Operation
YouTuber and streamer Kitboga collaborated with Kraken to expose and take down a call center crypto scam. The scam involved a fake security alert that directed victims to call a fake hotline, where fraudsters posing as cybersecurity experts manipulated them into making payments, handing over login credentials, or even control of their devices. Kitboga worked with Kraken to set up a fake account that appeared to contain a large amount of Bitcoin, which the scammers attempted to withdraw from. Kraken's sting operation gathered data on multiple crypto wallets used by the call center operators, which was shared with other exchange operators to freeze assets and close the net on the perpetrators' crypto laundering operation.
5 Cryptocurrency Exchanges Trying to Grow in Africa: Bybit, Kraken, Coinbase, Binance, and Gemini
Despite the lack of recognition from most African governments, cryptocurrency traders are still utilizing various exchanges across the continent. These exchanges offer different transaction costs and trading options, allowing customers to track their investments. Among the recommended exchanges are Bybit, Kraken, Coinbase, Binance, and Gemini, with the latter two prioritizing security and offering tools for passive income generation. Gemini is also a qualified custodian under the New York State Department of Financial Services, emphasizing its regulatory compliance.
Former Kraken CEO Jesse Powell's Home Searched by FBI in Cyber-Stalking Investigation
Jesse Powell, the former CEO of Kraken, had his home searched by the FBI in March as part of an investigation into allegations that he hacked and cyber-stalked a nonprofit arts group. The investigation has been ongoing since at least last fall. The nonprofit claimed that Powell interfered with its computer accounts, including blocking access to emails and other messages.
Kraken Emerges as Liquidity Leader Amidst SEC Enforcement Actions and Crypto Exchange Turmoil
July 4 (Cointime) - Enforcement actions by the SEC against Ripple, Binance, and Coinbase have negatively impacted the liquidity of other crypto exchanges. The CEX landscape has already faced challenges, and a new report shows a slow recovery in liquidity during Q2.
Kraken Ordered to Hand Over Trading Information to IRS in Cryptocurrency Tax Investigation
July 4 (Cointime) - Kraken, a US-based cryptocurrency exchange, has been ordered by a federal judge to hand over trading information of users who have made transactions worth $20,000 or more to the Internal Revenue Service (IRS). The IRS is investigating US taxpayers who have used cryptocurrency to ensure they have complied with internal revenue laws.
Kraken Ordered to Provide User Information to IRS in Crypto Tax Probe
July 1 (Cointime) - Kraken, a top cryptocurrency exchange in the US, has been ordered by a US Magistrate Court to provide the personal information of its users to the Internal Revenue Service (IRS) as part of the agency's investigation of underreported tax. The court ruling would require Kraken to provide information on all accounts that traded at least $20,000 in cryptocurrencies between 2016 and 2020, including users' names, taxpayer identification numbers, phone numbers, emails, addresses, and other transactional information. While the court rejected the IRS demand for information on anti-money laundering investigations and other details in Kraken's due diligence questionnaires, the decision highlights the government's efforts to close all loopholes that could result in low taxes for crypto investors.
Wintermute received 10 million BLUR from Coinbase's custody wallet and deposited them into Kraken
June 27 (Cointime) -Wintermute Trading received 10 million BLUR (approximately $4.2 million) from a Coinbase custody wallet and deposited it into Kraken about 12 hours ago, as monitored by Look On Chain.
An ICO Whale moved 7,998 $ETH (equivalent value of about $15.18 million) 6 hours ago
June 26 (Cointime) -An address that received 50,000 ETH from an Ether ICO participating address in 2017 and has been dormant for 6 years moved $7998 $ETH ($15.18M) 6 hours ago, according to on-chain analyst Yu Ashes. This address received 50k ETH on 2017/3/10 and then moved 36k ETH into #Kraken between 2017/5/30-6/14 for a possible average sale price of $255.
Whale Withdraws $44.6M Worth of ETH from Kraken in Past Week
June 21 (Cointime) - In the past seven days, a whale with the address 0x2c7459476cab01eff53f883716afd62d1dc0cc31 has withdrawn a total of 24,930 ETH (worth approximately $44.6 million) from Kraken, a popular cryptocurrency exchange. The most recent withdrawal of 1,269 ETH (worth approximately $2.3 million) occurred nine hours ago.
