Kraken Assists Former FTX Clients with Fee-Free Trading

user avatar

by Giorgi Kostiuk

2 years ago

Kraken steps up to assist former FTX clients by offering them fee-free trading up to $50,000.

Benefits for Kraken Clients

Eligible users choosing Kraken for their payouts gain access to up to $50,000 in fee-free crypto trading on Kraken Pro. Additionally, clients will receive bonus credits up to $105, depending on the amount of their recovered funds.

FTX Investigation and Fallout

FTX filed for bankruptcy in November 2022 after being valued at $32 billion. The fund distribution process managed by Kraken and BitGo is set to begin in January, with payouts expected within 60 days of the plan’s effective date. FTX’s founder and former CEO, Sam Bankman-Fried, was sentenced to 25 years for fraud and mismanagement.

New Opportunities from Backpack

Former Alameda Research and FTX employees founded the cryptocurrency exchange Backpack, which acquired FTX EU. The agreement allows Backpack to manage the distribution of funds to FTX EU customers and plans to launch its European services in Q1 2025. The new entity will provide crypto-derivative trading services.

Kraken and other participants continue to play a role in recovering lost funds for FTX clients, offering various opportunities and support initiatives.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Traders Predict Early Release of OpenAI's GPT-6 Model

chest

Prediction market traders are optimistic about the early release of OpenAI's GPT-6 model, estimating a 59% chance of launch by September 15.

user avatarTando Nkube

Visa Seeks New Crypto Stablecoin Partner for Global Settlements

chest

Visa is seeking a new crypto stablecoin partner to enhance its global settlement capabilities after the acquisition of its previous partner, BVNK, by Mastercard.

user avatarKofi Adjeman

AMD's Gaming Division Struggles Amid AI Market Concerns

chest

AMD's gaming division faces challenges with a 31% revenue dip, raising concerns about its ability to protect stock value amid potential AI market fluctuations.

user avatarSatoshi Nakamura

Michael Burry Warns of Potential AI Bubble Burst

chest

Michael Burry warns of a potential AI bubble burst that could lead to significant losses in tech stocks, particularly for companies like AMD.

user avatarNguyen Van Long

Nike Stock Hits 12-Year Low Amid Rebound Speculation

chest

Nike's stock closed at a 12-year low of $39.09, raising concerns about its future performance and potential for a rebound.

user avatarJesper Sørensen

Payward Joins Project Glasswing to Boost Cybersecurity Efforts

chest

Payward, the parent company of Kraken, has joined Anthropics Project Glasswing to enhance cybersecurity by utilizing Claude Mythos 5 for identifying security vulnerabilities.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.