Kraken has been ordered to provide information on its users who conducted the equivalent of $20,000 in crypto transactions in any one year, between 2016 and 2020, to the United States Internal Revenue Service. A federal court in northern California authorized the IRS to serve a “John Doe summons” on Kraken Wednesday. The exchange is not alleged to have done anything wrong. The IRS is after the records of an “ascertainable group or class of persons” who may have failed to comply with tax reporting and internal revenue laws. In addition, the IRS will check if Kraken has been compliant …

The $5.3-billion investment trust RIT Capital Partners has acquired a stake in leading crypto exchange Kraken. The London based-trust, formerly named Rothschild Investment Trust, holds ties to the Rothschild banking family of England through chairman Jacob Rothschild. In an April 12 note to investors, James Glass described the exchange as “one [of] the world’s biggest crypto exchanges having been founded in 2011. It has more than 6m clients and is the 4th largest exchange by trading volumes.” Glass suggested the acquisition had one eye on the potential direct listing for the exchange: “According to media reports, Kraken is considering going …

A crypto app has warned that Bitcoin is facing a liquidity crisis — and the lack of supply on the open market could have ramifications for buyers and sellers alike. According to SwissBorg, the amount of Bitcoin held in exchanges’ wallets has decreased markedly in recent months. This has resulted in a number of major trading platforms suffering outages — with some forced to impose temporary limits on buy orders. Whereas many crypto apps rely solely on one exchange, SwissBorg is connected to four leading platforms: Binance, Kraken, HitBTC and LMAX. The company says this means there is a much …

Kraken, one of the world’s largest cryptocurrency exchanges, has tentative plans to go public next year, according to CEO Jesse Powell. Powell appeared on a segment on CNBC after Kraken published record-breaking fourth-quarter results, including a surge in trading volumes and new client signups. “The first quarter just completely blew away the entirety of last year,” he said. “We beat last year’s numbers by the end of February. The whole market has really just exploded.” Regarding a potential stock market debut, Powell said 2022 is a likely target for a new listing: “We’re looking at being able to go public …

The founder of Bitcoin.com Roger Ver, and other high profile crypto figures including Kraken CEO Jesse Powell, have won a motion to dismiss an antitrust suit filed against them alleging market manipulation. The amended complaint was filed by crypto company United American Corp in March 2020 against Ver, Powell, Bitmain Technologies and its CEO Jihan Wu, along with Bitcoin Cash developers Shammah Chancellor and Jason Cox. The case has now been dismissed with prejudice due to a lack of evidence. The emphatic decision came after the district court threw out the initial complaint without prejudice in February 2020. UAC’s initial …

Appearing on Bloomberg, Kraken CEO Jesse Powell explained why he believes dollar-based long-term price predictions for Bitcoin are flawed, emphasizing the inflationary nature of fiat currencies. Responding to a question asking Powell for end of year price predictions, Kraken’s CEO said: “I think I said Bitcoin is going to infinity and that’s kind of hard to comprehend because I’m measuring it in terms of dollars.” Offering alternative measures for valuing Bitcoin, Powell speculated the value of Bitcoin may increase from its current 'price' or one BTC per Tesla Model 3 to “one Bitcoin per Lambo” by the end of the …

San Francisco-based crypto exchange Kraken has not yet confirmed that it will follow in Coinbase's footsteps by pursuing a public listing, though the company did rule out the possibility of doing so via a special-purpose acquisition company. In a written statement to Cointelegraph, Kraken said it would pursue a direct listing in the event the exchange decided to go public in the United States. This follows speculative reporting from Fox Business’ Charles Gasparino, who yesterday claimed that Kraken was considering “going public possibly through a SPAC or IPO.” “If Kraken would decide to go public, it would do so through …

Ethereum’s transition to Ethereum 2.0 officially began in December 2020 with the Beacon Chain launch. The long-awaited scaling solution takes the blockchain from a proof-of-work consensus algorithm to a proof-of-stake one. In the months since the transition began, users of the United States-based crypto exchange Kraken have allocated more than half a million Ether (ETH) to the platform for staking purposes. On Tuesday, Kraken said via a public statement that the company was "pleased to announce that the total amount of ether staked through its platform has now surpassed 500,000 ETH, as the Ethereum community continues to express its support …

Cryptocurrency and blockchain firms are attracting billion-dollar valuations as the space continues to see major investment in 2021. The likes of exchanges Coinbase and Kraken have had mind-boggling numbers attached to their plans to raise funds, with the former set to go public through a direct listing and the latter preparing for a lucrative fundraising round. Since it formally announced its plans for a public listing, Coinbase has been tipped to be valued at around $28 billion by cryptocurrency analytics firm Messari. Meanwhile, news of Kraken’s efforts to receive investment from private firms in a new fundraising round saw insiders …

Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices. On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000. McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to …

Bitcoin (BTC) will be worth "infinity" and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken. Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000. Powell: $1 million Bitcoin in ten years "reasonable" "Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it's going to infinity," he told Bloomberg TV about future price trajectory. "This national currency's only fifty years old, it's already showing extreme signs of weakness, and pretty soon …

One of the biggest debates taking place on a global scale relates to energy production and the integration of renewable energy sources into an electrical grid dominated by carbon-based fuels and nuclear power. Energy Web Token (EWT) is one project that is growing in popularity as it aims to integrate blockchain technology into the energy sector. The project also plans to help with application development and it is creating a decentralized energy exchange. Data from Cointelegraph Markets and TradingView shows that the price of EWT increased 65% from a low of $11.38 on Feb. 28 to a new all-time high …