Kraken

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Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations

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Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The … Read more

Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’

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On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed that a POR audit “requires cryptographic proof of client balances and wallet control.” Jesse Powell Stresses … Read more

Bankman-Fried’s Private Jet Causes Buzz, Kraken CEO Addresses FTX Collapse, More Sleeping Bitcoins Wake Up — Week in Review

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With the colossal collapse of crypto exchange FTX in recent weeks, excitement in the world of cryptocurrency and finance has been in no short supply. Former FTX CEO Sam Bankman-Fried’s private jet was reportedly spotted heading to Argentina, Kraken’s CEO has addressed the fallout of the Alameda/FTX saga, saying that “The damage here is huge,” … Read more

Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges

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During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to the fiasco is the fact that cryptocurrency enthusiasts have removed large quantities of bitcoin and … Read more