Tag: kraken

ASIC Wins Its Case Against Bit Trade
August 27, 2024 BY Elizabeth Anderson

ASIC Wins Its Case Against Bit Trade

This company runs the Kraken crypto exchange in Australia. ASIC indicated that Bit Trade’s “margin extension” product has been available since October 2021 without a “target market determination” as legally required. According to the financial watchdog, this oversight meant a contravention of the Corporations Act every time this product was offered to a customer on…

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November 24, 2023 BY Elizabeth Anderson

Binance CEO pleads guilty to money laundering in $4.3bn settlement

Charged with breaking US anti-money-laundering laws, fraudulent customer funds management and conspiracy to commit fraud, Zhao now faces a $4.3bn settlement that must be paid to cover a federal investigation into Binance’s illegal activities by US Securities and Commission Exchange (SEC). _____________________________________________________________________________________________________________________________________ Don’t miss out the latest news, subscribe to LeapRate’s newsletter _____________________________________________________________________________________________________________________________________ To counter…

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February 10, 2023 BY Steffy Bogdanova

Kraken discontinues crypto staking in US following a $30 million settlement with SEC

According to SEC’s complaint, Kraken has offered and sold its crypto asset “staking services” since 2019, advertising annual investment returns of as much as 21%. SEC Chair Gary Gensler commented: Whether it’s through staking-as-a-service, lending, or other means, crypto intermediaries, when offering investment contracts in exchange for investors’ tokens, need to provide the proper disclosures…

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September 22, 2022 BY Steffy Bogdanova

Kraken appoints Dave Ripley as CEO, Jesse Powell becomes Chairman of the board

The official press release highlighted that Ripley has played a key role in scaling Kraken’s operations in over 16 acquisitions, regulatory licenses and partnerships. Ripley started his career as a software engineer before becoming a financial adviser at Boston Consulting Group. He has accumulated almost a decade of crypto industry leadership experience. He became COO…

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Acquisition
December 23, 2021 BY Steffy Bogdanova

Kraken acquires infrastructure platform Staked

The announcement further detailed that through the deal, Kraken’s clients will have more options on how they choose to manage their funds when staking with Kraken. Tim Ogilvie, CEO of Staked said: Kraken’s acquisition of Staked represents an exciting new chapter for us. Kraken clearly shares our commitment to supporting proof-of-stake networks, having a security-first…

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CFTC fine
September 29, 2021 BY Steffy Bogdanova

CFTC fines Kraken $1.25 million for offering margined crypto products to US customers

Acting Director of Enforcement Vincent McGonagle, said: This action is part of the CFTC’s broader effort to protect U.S. customers. Margined, leveraged or financed digital asset trading offered to retail U.S. customers must occur on properly registered and regulated exchanges in accordance with all applicable laws and regulations. According to the CFTC, Kraken offered margined…

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Forex Weekly Look Back
September 25, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: ATFX adds Merck & Co share CFDs, CFH announced a dedicated Zero hold time liquidity pool

Westpac Banking Corporation announced reaching an agreement with the Australian Transaction Reports and Analysis Centre (AUSTRAC for 23 million alleged breaches of anti-money laundering laws. The bank agreed to pay $1.3 billion to settle the charges in the biggest penalty in Australian corporate history. Digital asset trading platform Bitfinex launched real-time market data feed to…

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