Millennials and Generation Xers in the United States currently practicing sheltering in place and social distancing may find some solace that — in addition to saving lives — they may stand to inherit almost $70 trillion from Baby Boomers in the years to come. Kraken Intelligence, the in-house research team at the crypto exchange of the same name, released a new report entitled “Inheriting USDs & Acquiring BTCs: How ‘The Great Wealth Transfer’ Will Fuel ‘The Great Bitcoin Adoption.’” According to the report, if American Millennials were to invest at least five percent of their inherited wealth into Bitcoin (BTC), …

While March 2020 has been one of the most volatile and unprofitable months for Bitcoin holders, exchanges have benefited greatly from this uncertainty. March 12 selloff spike in volume The main source of revenue for crypto exchanges comes from trading fees, so on the days with heavy volume, they see an increase in their revenues. March 12, the day that Bitcoin lost 37% of its value, there was a significant increase in Bitcoin trading volume, with Bitfinex’s volume exploding almost 1,000%. Source: Cointelegraph, bitcoinity.org, Coinmarketcap Furthermore, there is a clear correlation between the direction of price movement and exchange volumes. …

United States-based cryptocurrency exchange Kraken is embracing traditional forex trading, going live with nine new fiat currency pairs as of today, March 12. From 14.30 UTC, users worldwide — notably excluding United States residents — will be able to use the Kraken platform to directly trade between euros, U.S. dollars, Canadian dollars, Japanese yen, pound sterling and Swiss francs. The exact FX pairs are as follows: EUR/CAD, USD/CAD, USD/JPY, EUR/CHF, USD/CHF, EUR/USD, EUR/GBP, EUR/JPY, GBP/USD. Spearheading a new move for the industry? Kraken appears to be the first major crypto exchange to make an entry into the forex market. Unlike …

A UK financial watchdog hastily retracted an official warning about Kraken after apparently confusing the exchange with online scammers — but a similar warning about BitMEX remains active. On March 3, the United Kingdom Financial Conduct Authority (FCA) published a notice on its website cautioning citizens that the second-largest U.S. cryptocurrency exchange by volume, Kraken, is not authorized to operate in the U.K. The warning stated the company is “targeting people in the UK”: “We believe this firm has been providing financial services or products in the UK without our authorization. Find out why to be especially wary of dealing …

Representatives of major crypto exchanges today told the United States Internal Revenue Service that they want to see clear regulations rather than vague suspicion from the tax authority. In a March 3 panel that is a continuation of a broader crypto summit at the IRS building in Washington, D.C., representatives from Coinbase, Kraken, and major accounting firm RSM US LLP argued that the crypto world had experienced outsized scrutiny from regulators compared to its size and darkness. U.S. crypto exchanges say they aren’t that scary The representatives from Coinbase — head of global tax information reporting Sulolit Mukherjee — and …

On Feb. 27 Noisebridge advocate and attendee John Backus woke up to see that approximately 17.513 Bitcoin (BTC) – equivalent to about $156,000 at the time – had been deposited into Noisebridge’s cryptocurrency wallet. The unexpected deposit came from U.S. based cryptocurrency exchange Kraken. The exchange sent the Bitcoin as a donation in response to a tweet that Backus had put out the day before asking for funds to help keep Noisebridge running. Source Twitter In an interview with Cointelegraph on Feb. 27 at Noisebridge, Backus said that he was shocked to see that 17.5 Bitcoin had been deposited into …

Kraken Security Labs revealed on Jan 31. that Trezor hardware wallets and their derivatives can be hacked to extract private keys. Though the procedure is quite involved, Kraken claims that it “requires just 15 minutes of physical access to the device.” The attack requires a physical intervention on the Trezor wallet by either extracting its chip and placing it on a special device or soldering a couple of critical connectors. The Trezor chip must then be connected to a “glitcher device” that would send it signals at specific moments. These break the built-in protection that prevents the chip’s memory from …

The Coinbase-backed Crypto Ratings Council (CRC), a group of major United States’ cryptocurrency firms seeking regulatory clarity, has welcomed new members. Established in late 2019, the CRC has expanded to include members like trading platform eToro, crypto exchange OKCoin and Radar, the startup behind decentralized exchange Radar Relay. Coinbase announced the news in a press release shared with Cointelegraph on Jan. 16. CRC now counts 11 members including Goldman Sachs-backed crypto finance firm Circle As the new participants join eight other industry leaders in the council, the CRC now counts eleven companies that strive for more clarity from U.S. securities …

Pete Rizzo, former editor-in-chief at leading crypto news outlet CoinDesk, has started a new position at cryptocurrency exchange Kraken. Per a Jan. 15 announcement from Kraken, Rizzo’s new role as Editor-at-Large will entail responsibility for content production for the company’s new products and services. Departure from CoinDesk and the new role Regarding the shift in positions, Rizzo said “At this stage in my career, I wanted the opportunity to work with a larger team that was trying to acquire users and get people interested in bitcoin and cryptocurrency.” Rizzo, who left CoinDesk back in September, had been instrumental to the …

U.S.-based crypto exchange Kraken has acquired Australia’s oldest crypto exchange. In a recent development, Kraken announced its acquisition of Bit Trade, an Australia-based crypto exchange formed in 2013, in a Jan. 14 press release on Kraken’s blog. The Bit Trades website will, for the time being, still operate as it does presently, a representative from Kraken clarified to Cointelegraph, including maintaining the existing staff. A representative said: “In the short term, Bit Trade will continue under its current brand and operate business as usual. As part of the acquisition we are pleased to welcome the Bit Trade team led by …

Crypto exchange Kraken has added stablecoin USD Coin (USDC) to its list of trading pairs. Touted as “the world’s fastest-growing stablecoin,” USDC saw listing today on crypto exchange Kraken, per a press release provided to Cointelegraph on Jan. 8. USDC developed by Circle and Coinbase Payment company Circle, alongside crypto exchange powerhouse Coinbase, founded an endeavor called the Centre Consortium, developing USDC under the Centre name. An Ethereum-based (ERC-20) token, USDC is a cryptocurrency pegged to the U.S. dollar, allowing traders and investors to park their money in a stable and transferable digital asset if need be. The past two …

Law enforcement requests to cryptocurrency exchange Kraken hit their highest ever volume in 2019, rising 49% to 710 as compared with 475 the previous year. The data was revealed in a tweet from the exchange on Jan. 6, which included a snapshot taken from the new 2019 Transparency Report from Kraken’s compliance team. Screenshot, 2019 Global Law Enforcement Requests. Source: @krakenfx American, British and Danish agencies the most proactive As the snapshot reveals, Kraken received a total of 710 information requests from global law enforcement agencies in 2019, marking a sharp increase as compared with both 475 in 2018 and …