Two New Crypto Exchanges, Kraken Grapples with Bloomberg: Best of the Week | Finance Magnates (2024)

Exclusive interview with Monex CEO

Monex Group is a Japanese financial services company which operates the third largest foreign exchange brokerage in the country. It recently acquired cryptocurrency exchange Coincheck and is preparing its own ICO.

Founder and CEO Oki Matsumoto explained to Finance Magnates why he thinks that brokers of both traditional financial assets and cryptocurrency should work more closely with financial regulators and why the cryptocurrency market is similar to the derivatives market of the 1980s. He also revealed some details of his company's acquisition of Coincheck.

SIX Group to launch cryptocurrency exchange

Swiss corporation SIX Group, the owner of SIX Swiss Exchange, announced on Friday that it is building a cryptocurrency exchange.

Swiss Digital Exchange will launch next year and will be licensed by the Swiss financial authorities. SIX Group "runs the entire securities and Payments value chain for Switzerland already", according to SIX Group CEO Jos Dijsselhof, so the new entity is likely to be significant.

And another new cryptocurrency exchange

Bittrex, an American cryptocurrency exchange, announced that it has partnered with foreign exchange broker invest.com to launch yet another new cryptocurrency exchange. Reportedly it will combine the 200 tokens offered by the former with the financial derivative experience of the latter.

The exchange will initially be available only to citizens of the European Union citizens - they can now pre-register.

Exclusive interview with CEO of OANDA

Vatsa Narasimha, CEO of American multi-asset brokerage OANDA, spoke to Finance Magnates about the future of his company - it was purchased by a private equity company called CVC Capital Partners Asia Fund in May, for $160 million.

He talked about his role in making the deal, changes that the new owners intend to implement, and OANDA's five-year-plan.

Exclusive interview with CEO of PumaPay

PumaPay is a Blockchain -based billing protocol which raised $117 million in its ICO this year. It works by allowing merchants to pull money from the customer as opposed to customers pushing their money onto the merchant.

CEO Yoav Dror explained to Finance Magnates how the system works, why he thinks that it can work as well as credit cards, and why payment protocols can be "pretty sexy".

Kraken vs Bloomberg

Cryptocurrency exchange Kraken was the target of a flawed exposé published in Bloomberg. The writer attempted the prove that the price of Tether was being manipulated.

Kraken shot back, claiming that readers should be suspicious of Bloomberg - the analysis was so flawed that its only purpose could have been to manipulate the price by spreading doubt.

FCA takes blockchain firms under wing

The UK's Financial Conduct Authority has been running a regulatory sandbox - a closed system where new companies can safely test their products - for a number of years now. Last week it announced the latest startups to win a place.

The watchdog said that 40 percent of applicants this year had been blockchain-related.

Exclusive interview with Monex CEO

Monex Group is a Japanese financial services company which operates the third largest foreign exchange brokerage in the country. It recently acquired cryptocurrency exchange Coincheck and is preparing its own ICO.

Founder and CEO Oki Matsumoto explained to Finance Magnates why he thinks that brokers of both traditional financial assets and cryptocurrency should work more closely with financial regulators and why the cryptocurrency market is similar to the derivatives market of the 1980s. He also revealed some details of his company's acquisition of Coincheck.

SIX Group to launch cryptocurrency exchange

Swiss corporation SIX Group, the owner of SIX Swiss Exchange, announced on Friday that it is building a cryptocurrency exchange.

Swiss Digital Exchange will launch next year and will be licensed by the Swiss financial authorities. SIX Group "runs the entire securities and Payments value chain for Switzerland already", according to SIX Group CEO Jos Dijsselhof, so the new entity is likely to be significant.

And another new cryptocurrency exchange

Bittrex, an American cryptocurrency exchange, announced that it has partnered with foreign exchange broker invest.com to launch yet another new cryptocurrency exchange. Reportedly it will combine the 200 tokens offered by the former with the financial derivative experience of the latter.

The exchange will initially be available only to citizens of the European Union citizens - they can now pre-register.

Exclusive interview with CEO of OANDA

Vatsa Narasimha, CEO of American multi-asset brokerage OANDA, spoke to Finance Magnates about the future of his company - it was purchased by a private equity company called CVC Capital Partners Asia Fund in May, for $160 million.

He talked about his role in making the deal, changes that the new owners intend to implement, and OANDA's five-year-plan.

Exclusive interview with CEO of PumaPay

PumaPay is a Blockchain -based billing protocol which raised $117 million in its ICO this year. It works by allowing merchants to pull money from the customer as opposed to customers pushing their money onto the merchant.

ADVERTIsem*nT

CEO Yoav Dror explained to Finance Magnates how the system works, why he thinks that it can work as well as credit cards, and why payment protocols can be "pretty sexy".

Kraken vs Bloomberg

Cryptocurrency exchange Kraken was the target of a flawed exposé published in Bloomberg. The writer attempted the prove that the price of Tether was being manipulated.

Kraken shot back, claiming that readers should be suspicious of Bloomberg - the analysis was so flawed that its only purpose could have been to manipulate the price by spreading doubt.

FCA takes blockchain firms under wing

The UK's Financial Conduct Authority has been running a regulatory sandbox - a closed system where new companies can safely test their products - for a number of years now. Last week it announced the latest startups to win a place.

The watchdog said that 40 percent of applicants this year had been blockchain-related.

Two New Crypto Exchanges, Kraken Grapples with Bloomberg: Best of the Week | Finance Magnates (2024)

FAQs

Is Kraken exchange in trouble? ›

The SEC's complaint, filed in federal district court in San Francisco, alleges that Kraken violated the registration provisions of the Securities Exchange Act of 1934 and seeks injunctive relief, conduct-based injunctions, disgorgement of ill-gotten gains plus interest, and penalties.

How safe is Kraken? ›

Its servers are kept in secure cages under 24/7 surveillance by armed guards and video monitors. In addition to physical security measures, Kraken encrypts all of your sensitive contact information at the system and data level and regularly engages in vulnerability testing of its own system.

What is Kraken used for? ›

Kraken is among the oldest and largest cryptocurrency exchanges in the U.S. and globally. Kraken offers a wide range of products and services, making it a one-stop shop for spot trading, margin trading, futures trading, over-the-counter trading, staking, perpetuals, and has an NFT marketplace.

What is better, Binance or Kraken? ›

Binance vs Kraken cryptocurrency exchange overall score comparison reveals that Binance has a higher overall score of 9.8, while Kraken gathered an overall score of 9.4. If we look at the ease of use, it's clear that in this Binance vs Kraken comparison, Binance has better & smoother user experience than Kraken.

Is Kraken as safe as Coinbase? ›

Final Verdict. While both Coinbase and Kraken are highly trusted cryptocurrency exchange platforms, Coinbase's benefits are more specific to U.S. traders, while Kraken is the best for international traders overall.

Are my coins safe on Kraken? ›

Industry-leading security protects your investments. Kraken takes a comprehensive approach to protecting your investments in crypto assets and NFTs. Our team of experts have built in a number of sophisticated measures to prevent the theft of funds, NFTs, or information. Theft isn't the only threat of course.

Can Kraken be hacked? ›

Blockchain security firm CertiK has stepped forward as the entity behind the breach on Kraken, claiming that it detected several critical flaws that made it possible to mint (i.e., fabricate) crypto on any account, which could then be withdrawn and converted into valid crypto assets.

Is Kraken FDIC insured? ›

Deposits at Kraken Financial are not insured by the Federal Deposit Insurance Corporation (FDIC). However, Wyoming law requires all fiat deposits held by an SPDI to be fully reserved.

Can I withdraw USD from Kraken? ›

Scroll to the bottom of the page, and select the bank account from the drop-down menu. Enter the amount you wish to withdraw and click on Review Withdrawal. Do not use punctuations or currency symbols (use 1000 instead of €1,000). Check that the details are correct and click Withdraw USD to confirm the withdrawal.

Who owns Kraken? ›

The Seattle Kraken ownership is a partnership led by David Bonderman and Samantha Holloway. David Bonderman, a successful businessman and co-founder of TPG Capital, is one of the principal owners of the franchise.

Why is the Kraken so famous? ›

Legends of the Kraken date back to Viking times. In Norse mythology, tales of the Kraken emerged as part of the rich tapestry of sea monsters that haunted the minds of seafaring Vikings. These legends described a colossal, squid-like creature capable of pulling down entire ships with its powerful tentacles.

Is Kraken a wallet or exchange? ›

Differences between a crypto exchange and a crypto wallet service | Kraken. Kraken is an exchange providing clients the ability to deposit funds to our corporate wallet for safekeeping while the funds are being exchanged or used for trading or staking*.

Is Kraken allowed in the USA? ›

We welcome clients from all over the world, with a few specific exceptions due to international and local financial & cryptocurrency regulations. Depending on your verified residency, you may have certain restrictions on your account. Refer to our Terms of Service for complete information on our eligibility criteria.

Why is my Kraken fee so high? ›

The fee ranges from 0% to 0.40% of the total cost (value) of your order and depends on the following: Your 30-day trading volume (in USD). The currency pair that is being traded. Whether your order is maker or taker.

What is the most secure crypto exchange? ›

Kraken has been around for a while now, and is well known — and loved — by many crypto traders around the world. The exchange supports more than 230 cryptocurrencies and boasts arguably the safest digital ecosystem for trading your crypto.

What happened with Kraken? ›

SEC Allegations

Specifically, Kraken is accused of operating as an unregistered securities exchange, broker, dealer, and clearing agency since 2018. The SEC claims that Kraken made substantial profits by unlawfully facilitating the buying and selling crypto asset securities.

Is it safe to keep USD on Kraken? ›

Billions of dollars have been stolen from exchange-based hacks due to poor security measures surrounding these online wallets. Kraken remains one of the very few leading regulated exchanges that has never been breached. Nevertheless, it's recommended that users never hold all their funds on any single crypto exchange.

Is Kraken a stable exchange? ›

Kraken is a generally safe cryptocurrency exchange with industry-leading security protocols to protect user information, funds, and digital assets.

Has Kraken Exchange been hacked? ›

The bug found by a "security researcher" led to nearly $3 million stolen from Kraken's treasuries. Kraken said third-party security researchers found a vulnerability, which was fixed by the crypto exchange.

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