Amid a fraught period for some high-profile United States crypto firms and financial regulators, Kraken chief legal officer Marco Santori is calling for a dose of pragmatism going forward. Speaking on Bloomberg’s QuickTake Stock broadcast on Thursday, Santori told viewers, “You’re living in a fantasy world if you don’t believe that this industry is going to face heavier, more Wall Street-like regulation from governments in the U.S. and abroad.” Santori’s comments follow threats by the U.S. Securities and Exchange Commission earlier this month to sue the well-known crypto exchange Coinbase over a crypto yield program the commission deemed to be …

Kraken Australia CEO Jonathon Miller described Tuesday’s Bitcoin (BTC) crash as a natural correction after BTC was “dragged up” by the overheated Ether (ETH) and nonfungible token (NFT) markets. In its August report, Kraken notes that the supply of Ether on centralized exchanges fell to a three-year low of 12.8% at the start of the month, concluding “the likelihood of supply shock capitulating ETH higher is greater.” Miller noted that Kraken saw “a massive run-up of trading activity” leading into Ethereum’s highly anticipated London upgrade, adding that demand for Ether has sustained since. In addition to the hype surrounding Ethereum …

A group of DeFi projects and U.S. crypto exchange Kraken have donated $250,000 each to the Ethereum Foundation to support client teams working on the Ethereum (ETH) 2.0 upgrade. On Aug. 24 the Ethereum Foundation announced that the donations were made by Kraken, Compound Grants, Lido, Synthetix, The Graph and Uniswap Grants. The funds will supplement the funding provided by the foundation earlier this year, to support Ethereum execution layer teams. “Ethereum’s diverse client ecosystem is at the foundation of all that we’re building together. This includes both execution-layer and consensus-layer clients, both of which are essential parts of Ethereum’s …

Major United States-based cryptocurrency exchange Kraken is planning to officially expand into the European market, following in the footsteps of rival exchange Coinbase. Kraken co-founder and CEO Jesse Powell said that his firm is actively working on receiving a European license, targeting several local jurisdictions for a potential regulatory approval already this year. In a Tuesday interview with German business news agency The Handelsblatt, Powell noted that Kraken has been in talks with multiple European regulators, with countries like Malta, Luxembourg, and Ireland being the most likely jurisdictions to license the U.S. crypto exchange. The CEO reportedly stated that Kraken …

The overall feel across the cryptocurrency landscape over the past week has been one of bubbling anticipation, with the Ethereum network finally undergoing its London hard fork, which includes reforms to the transaction fee market, thanks to EIP-1559. London is the latest in a series of upgrades that are part of Ethereum’s measured transition from its original proof-of-work consensus model to a proof-of-stake model dubbed Ethereum 2.0. On Eth2, tokenholders who hold at least 32 Ether (ETH) can operate a validator node and verify transactions on the network. With the current price of Ether trading near $2,700, that puts the …

Cryptocurrency exchange Bitstamp has hired Robert Zagotta, chief commercial officer of Kraken, to be the first CEO of its business in the United States. In an announcement today, Bitstamp said Zagotta would be coming on board to “oversee day-to-day operations” and accelerate the exchange’s growth in the country. He was with crypto exchange Kraken for more than three years and also worked as a senior managing director with the Chicago Mercantile Exchange Group. “The U.S. has a unique regulatory landscape and a huge potential upside in the digital asset industry,” said Bitstamp Global CEO Julian Sawyer. “By appointing a regional …

It's not yet known whether Binance's recent news of being temporarily suspended from the U.K.’s financial system is the main driver behind today's Bitcoin (BTC) price drop. As Cointelegraph reported, the exchange sent emails to affected customers but has not given any details. Regardless of the reason behind the price weakness, derivatives contracts started to display some oddities, and this could be a troubling sign. Bitcoin quarterly futures are the preferred instruments of whales and arbitrage desks. Although it might seem complicated for retail traders due to their settlement date and price difference from spot markets, their most significant advantage …

Kraken CEO Jesse Powell has revealed that the crypto exchange could go public before the end of 2022. Powell said this during an interview with Bloomberg TV, stating that the move would be a natural progression for the company in its mission to “bring crypto to the world.” According to Powell, Kraken is currently doing “prep work” toward going public in the next 12 to 18 months. However, the exchange CEO did not give a target valuation for the upcoming float. Earlier in June, Cointelegraph reported that Kraken was reconsidering earlier plans to pursue a direct listing path toward becoming …

Jesse Powell is rethinking Kraken’s plan to go public, which is set for late 2022, following the uninspiring performance of Coinbase stock since its launch on April 14. Speaking with Fortune on Friday, Powell stated that in light of the performance on Coinbase’s direct public offering, the firm is now considering an initial public offering (IPO) more “seriously now,” as the firm is looking to avoid potential issues a direct listing presents: “Not having lock-ups, having billions of dollars of insiders be able to dump their shares, you know, on day one [...] I think it has a dampening effect …

Some of the biggest names in the crypto exchange business are reportedly eager to capture India’s cryptocurrency trading market, even as the government is yet to issue clear-cut regulatory policies. According to Reuters, sources say Kraken, Bitfinex and KuCoin are examining the potential for setting up shop in India. Crypto exchange giant Binance entered the Indian market back in 2019, acquiring one of the country’s most recognizable cryptocurrency trading platforms WazirX. The aforementioned trio could also pursue a similar entry strategy by acquiring or forming strategic partnerships with other Indian crypto exchanges. According to the Reuters source, these global exchanges …

United States-based cryptocurrency exchange Kraken has announced a “first-of-its-kind” parachain auction platform enabling clients to participate directly from the exchange. In a blog post on Tuesday, Kraken revealed the new platform will enable users who qualify to pledge support for Kusama projects vying for a parachain slot by staking Kusama’s KSM tokens. The rewards for contributors who support a winning bid vary and can include referral bonuses, early participation bonuses and airdrops. Polkadot’s multi-chain ecosystem will use sharded sidechains to process transactions in parallel. These Parachains are acquired in the auction process whereby projects try to outbid each other for …

Major global cryptocurrency exchange Kraken has launched a mobile crypto trading application in a new move to boost industry adoption in the United States. The company announced Wednesday that its new app is now available for most of the United States as well as other countries around the world for both iOS and Android users. The app allows users to trade more than 50 cryptocurrencies, like Bitcoin (BTC) and Ether (ETH), via smartphones. The move follows a rollout of the Kraken mobile app in Europe this January. “This consumer app is our first major foray into supporting wider consumer adoption …