The SEC alleged Kraken operated as an unregistered exchange, broker, dealer and clearing agency.
Kraken Accused by SEC of Operating Unregistered Platform, Improperly Mixing Customer Funds
Crypto exchange Kraken commingled customer and corporate funds while operating as an unregistered broker, clearing agency and dealer, the U.S. Securities and Exchange Commission (SEC) alleged in a new lawsuit Monday.
The Protocol: Kraken Awakens – as Ethereum L2 Candidate
In this week’s edition of The Protocol newsletter, we explain how Kraken is reportedly considering launching its own layer-2 blockchain, following Coinbase’s recent launch of a similar network, amidst a broader trend of companies creating Ethereum-based transaction solutions.
Coinbase Driving Solana Bull Run: Will SOL 2X To $80?
Solana (SOL) is one of the top performers, looking at price action in the weekly chart. According to Kaiko, SOL’s net buying, measured via cumulative volume delta (CVD), has been led by Coinbase, one of the most active cryptocurrency exchanges in the past few trading weeks. To illustrate, since October 18, the blockchain analytics platform notes that 2.2 million SOL have been purchased, an indicator of rising demand as the broader crypto market thaws.
Coinbase Leading The Solana Buying Wave
At over 2.2 million SOL purchased, Coinbase leads the wave of buying pressure. However, closely behind, Binance, the world’s largest cryptocurrency by client count, follows. There are around 2 million SOL bought through Binance from October 18, highlighting the role of the exchange in funneling liquidity to SOL. Even so, specific drivers forcing users to opt for Coinbase over Binance couldn’t be laid out.
While at it, there is rising demand for SOL on Kraken. Even so, demand for SOL has been fizzling on Bybit, Upbit, and OKX over the same period. It couldn’t be ascertained why the trajectory on these exchanges has been trending lower. However, what’s clear is that all of these exchanges allow derivatives trading of multiple assets, including SOL.
When writing on November 7, SOL is a top-10 coin by market cap. Perched at seventh in the leaderboard, Solana has flipped Cardano, Dogecoin, and Tron, cementing its position considering the over $7 billion gap between the seventh and eighth projects in the market cap ranking.
The CVD measures the difference between buying and selling volume over a period. The tool can be used to identify trends. When rising, the uptrend might continue while a falling CVD points otherwise.
SOL Trending At New 2023 Highs: Will The Uptrend Continue?
At spot levels, SOL is also changing hands at around $43, trending at around 2023 highs after breaking above the resistance level at $32 in late October. The uptrend could continue, considering the surging interest Solana continues to garner. This may push the coin 2X to $80, a critical resistance, looking at the candlestick arrangement in the weekly chart.
This demand is primarily because of improving investor confidence and Solana Labs’ decision to roll out new features and strike strategic partnerships, pulling more capital to SOL. Rising CVD could suggest that institutions might be eying SOL, aiming to ride the uptrend.
On November 6, the FTX estate transferred 750,000 SOL to Binance and Kraken. Although it couldn’t be verified that they sold, SOL prices retraced from recent highs. FTX, the defunct crypto exchange, controlled over $1.1 billion worth of SOL, and the estate manager has been gradually selling the coin and other crypto assets to repay creditors.
Kazakhstan’s authorities confirm they blocked access to Coinbase: Report
The authorities cited the Law on Digital Assets, enacted in February 2023, that forbids the issuance and trading of digital currencies and the crypto exchange operation without a national license, according to reports.
Kraken Said to Seek Partner to Help Build It a Layer 2 Blockchain Network
The crypto exchange is still considering which blockchain developer should build its network, with Polygon, Matter Labs and the Nil Foundation in the mix, according to people familiar with the situation. Rival crypto exchange Coinbase blazed the trail with Base.
Kraken to suspend trading for USDT, DAI, WBTC, WETH, and WAXL in Canada
According to customer emails, the changes will go into effect starting Nov. 30.
Kraken set to acquire Dutch exchange BCM, eyes European expansion
Kraken is set to acquire the Netherlands-based cryptocurrency platform as part of its European expansion plans.
Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations
This week’s Crypto Biz explores Kraken’s securities arm, Gemini’s expansion in India, Binance’s return to Belgium, and an oil company in Argentina investing in crypto mining.
Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations
This week’s Crypto Biz explores Kraken’s securities arm, Gemini’s expansion in India, Binance’s return to Belgium, and an oil company in Argentina investing in crypto mining.
Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations
This week’s Crypto Biz explores Kraken’s securities arm, Gemini’s expansion in India, Binance’s return to Belgium, and an oil company in Argentina investing in crypto mining.
Crypto exchange Kraken plans move into US stock trading: Report
The firm reportedly acquired a broker-dealer license from the U.S. Financial Industry Regulatory Authority as part of the expansion plan.
Crypto Exchange Kraken to Explore Stock Trading: Bloomberg
The service could launch as soon as 2024, Bloomberg reported, citing a person familiar with the matter.
Kraken secures money license registrations in Spain and Ireland
The move follows the crypto exchange’s successful VASP registration in Italy.
Kraken Pushes Forward on Expansion in Spain, Ireland With Key Regulatory Steps
Kraken obtained a registration from Spain’s central bank, while its Irish subsidiary secured a license.
Ethereum price sees new low versus Bitcoin since switching to Proof-of-Stake
Ethereum spot ETF request, Ripple’s potential win against the SEC, and growing decentralized app dominance retain hope for ETH investors.
Australian regulator sues crypto exchange over margin trading product
The regulator alleged that Bit Trade — which is the provider for Kraken in Australia — did not make a target market determination before offering its margin trading product to Australian customers.
Crypto Exchange Kraken’s UK Derivatives Unit Looking to Expands Its Service: Bloomberg
The firm is looking move into a void in the crypto derivatives market left when FTX collapsed last November.
Bitstamp to Stop Ether Staking in U.S. Amid Regulatory Scrutiny
The Luxembourg-based exchange said that all other services will remain unaffected.
Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says
Kraken’s Canada managing director told Cointelegraph in an interview that attaining restricted dealer status provided a clear regulatory pathway.