Kraken Adds Futures Trading For Shiba Inu
Kraken, the third-largest cryptocurrency exchange in the world, has launched futures trading for Shiba Inu (SHIB) on its advanced crypto trading platform, Kraken Pro. The exchange has added a new perpetual futures trading pair, SHIB/USD, with up to 10x leverage.
Kraken’s UK boss talks IPO, layoffs, and why the exchange is ‘pumped’ about Britain
Kraken's UK managing director, Blair Halliday, discussed the cryptocurrency exchange's plans for an IPO, layoffs, and the potential of the UK's crypto opportunities in an interview with DL News. While Halliday did not provide any specific details on Kraken's IPO plans, he expressed optimism about the crypto industry's potential in the UK and praised the government's efforts to introduce new crypto laws. He also criticized UK banks' restrictions on account holders transferring fiat to crypto companies, saying that they will push UK consumers into the arms of offshore trading platforms with insufficient investor protections. Despite facing setbacks such as layoffs and regulatory crackdowns, Kraken added 42 new tokens to the exchange, grew and paid out over $500 million in its staking service, sponsored festivals, and hired over 1,100 employees in 2021.
Kraken's Chief Legal Officer Says Legal Doctrine Could Undermine SEC's Authority in Crypto Industry
Kraken's chief legal officer, Marco Santori, believes that the major questions doctrine, a point of U.S. administrative law, could undermine the U.S. Securities and Exchange Commission's (SEC) authority. This doctrine suggests that federal agencies should not engage on points of major economic significance before Congress. Santori thinks this doctrine is especially relevant as lawmakers begin work on crypto oversight. He was heartened that most lawmakers from both parties seemed to think legislation was in order for crypto oversight, though he acknowledged that the uncertainty of the Senate's view leaves some question about its potential.
Kraken Builds Fake Crypto Account to Bait Scammers, as Streamer Kitboga Frustrates Impersonator of President Biden
Kraken, a United States crypto exchange, has developed a new way to identify fraudulent wallets by creating a fake crypto account on the exchange to "scam bait" bad actors. Popular streamer Kitboga, who creates content around annoying scammers, revealed that Kraken had built him a "custom environment" to frustrate a scammer impersonating President Joe Biden. In the video clip, Kitboga can be seen with around $450,000 worth of Bitcoin in his Kraken-built fake crypto account. The collaboration between Kraken and Kitboga was made possible by Kraken's chief security officer Nick Percoco.
Circle Mints $140 Million USDC for Big Buyer, Ethereum Foundation Transfers 15,000 ETH to Kraken
Circle, the issuer of USDC stablecoin, minted $140 million worth of USDC and transferred it to Coinbase on behalf of a big buyer.
Ethereum Foundation and Vitalik Buterin Move 15K ETH
Ethereum Foundation and its creator Vitalik Buterin transferred a significant amount of ETH to crypto exchange Kraken. Vitalik Buterin transferred 200 ETH, and Ethereum Foundation transferred 15,000 ETH. This raised concerns in the crypto community that the move could lead to a crash in ETH and meme coin prices, as similar large transfers by Ethereum Foundation have caused significant price drops in the past. Additionally, Buterin has a history of selling meme coins, which often leads to a drop in their value. Despite these concerns, ETH's price has increased by 3% in the last 24 hours, currently trading at $1,964.
“Opportunism and Demagoguery” Fuels the U.S. Regulatory Crackdown, Steptoe Partner Says
“Political opportunism and demagoguery” are the largest drivers of the regulatory crackdown and federal banking restrictions on US-based cryptocurrency companies,” Jason Weinstein, a partner at Steptoe, said during a panel at Consensus 2023.
Dave Ripley Takes Over As Kraken CEO, Set on Next Phase of Growth and Expansion
Kraken announced the appointment of Dave Ripley as the company’s new CEO.
Crypto Evening Briefing: Kraken Asks San Francisco Court to Intervene Against IRS Demands
Kraken has joined Coinbase in an effort to push back against the growing regulatory scrutiny by United States regulators.
Kraken Asks San Francisco Court to Intervene Against IRS Demands
Kraken is requesting a federal court in San Francisco to intervene in the issue and ask the United States Internal Revenue Service (IRS) to back off from its demand for customer information. The crypto exchange has deemed the demand as an "unjustified treasure hunt," citing Coinbase's case from 2017 and claiming that the IRS has gone "far beyond" its intrusive summons. Kraken has joined Coinbase in pushing back against growing regulatory scrutiny by American regulators. The growing pushback from regulatory bodies has become a concern for crypto companies in the US, with some warning that it will force budding crypto companies to move offshore.
