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

Optimism Launches Superchain Interoperability Upgrade on Sepolia Testnet

chest

Optimism has successfully launched its Superchain interoperability upgrade on the Sepolia testnet, allowing developers to test cross-L2 messaging across OP Stack chains.

user avatarMohamed Farouk

XRP Ledger Achieves Key Milestone with AMM Amendment

chest

The XRP Ledger has achieved 80 validator consensus for its Automated Market Maker amendment, marking the start of the activation window for native AMM functionality.

user avatarElias Mukuru

Solana Validator Adoption of v118 Client Reaches 85% of Consensus Stake

chest

The adoption of the v118 client by Solana validators has reached a significant milestone, marking 85% of consensus stake.

user avatarDiego Alvarez

Sui Foundation Unveils $10 Million Fund for AI and DeFi Development

chest

The Sui Foundation has launched a $10 million ecosystem fund aimed at fostering decentralized AI infrastructure and DeFi protocols on the Sui blockchain.

user avatarKenji Takahashi

Aave Governance Approves Parameter Update for Base Mainnet

chest

Aave governance has approved a parameter update for the Base mainnet in its v3 deployment, focusing on risk settings and collateral caps to enhance liquidity access and manage risk effectively.

user avatarMaria Fernandez

Chainlink Expands CCIP Infrastructure to Avalanche and Polygon

chest

Chainlink has launched its CrossChain Interoperability Protocol (CCIP) on Avalanche and Polygon, enhancing crosschain token transfers.

user avatarGustavo Mendoza

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.