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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Visa, BILL, and Billtrust Pilot AI Agents for Invoice Payments

Visa, BILL, and Billtrust have launched a pilot program to use AI agents for automating approved invoice payments through supplier portals.

user avatarZainab Kamara

Visa Introduces Stablecoin-Enabled Prefunding with Inyo Global

Visa has launched its stablecoin-enabled Visa Direct prefunding service in collaboration with Inyo Global, enhancing international money transfer efficiency.

user avatarSon Min-ho

Ripple Prime Introduces Perpetual Swaps for Institutional Clients

Ripple Prime introduces perpetual swaps for institutional clients, allowing them to trade derivatives referencing over 100 traditional markets.

user avatarAyman Ben Youssef

Ripple Highlights Key Trends in Institutional Custody from BCG Report

Ripple discusses key trends in institutional custody for digital assets based on a BCG report, highlighting the importance of governance, interoperability, and security.

user avatarTando Nkube

Solana Enhances Developer Experience with Web3js v31 Release

Solana announces the release of Web3js v31 on October 16, enhancing interoperability with development tools for easier application building.

user avatarKofi Adjeman

Study Proposes Optimizing Validator Leader Schedules for Solana

A study suggests optimizing validator leader schedules for quicker handovers while highlighting potential security tradeoffs.

user avatarNguyen Van Long

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.