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

Horizen Users Face Deadline for Layer-Three Network Migration

Horizen has announced a migration deadline for its layer-three network, urging users to follow specific instructions for asset transfers.

user avatarGustavo Mendoza

Nvidia and Other Major Companies Object to Trading on OKXICE's Tokenized Stock Venue

Nvidia and 11 other companies have formally objected to their shares being offered on OKXICE's planned tokenized stock trading venue, bringing the total objections to 50.

user avatarRajesh Kumar

CFTC Moves Forward Amidst Stalled CLARITY Act

The CFTC's regulatory initiative reflects growing pressure on US regulators to address gaps in digital asset oversight as the CLARITY Act stalled in Congress.

user avatarMiguel Rodriguez

CFTC Proposes New Crypto Asset Market Registration

The CFTC proposes a new registration category for crypto asset markets to streamline regulatory oversight.

user avatarLuis Flores

Tom Lee Discusses Resilience of Crypto Market Post-Binance Hack

Tom Lee discusses the resilience of the crypto market following the recent Binance hack, highlighting its muted reaction and positive signs for the future.

user avatarArif Mukhtar

Bitmine Continues Ethereum Acquisition Amid Binance Hack

Bitmine Immersion Technologies continues its weekly Ethereum acquisition, adding 8,573 ETH worth approximately $19 million, totaling 6,060,506 ETH.

user avatarMaria Gutierrez

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.