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Author: Admin | 2025-04-28
A special purpose depository institution (SPDI) charter in Wyoming,[25] becoming the first cryptocurrency exchange to hold such a charter in the United States.[26] In early 2021, Kraken sought additional funding from investors at a valuation of over $20 billion, with Tribe Capital becoming the company's second largest institutional investor behind Hummingbird Ventures and Arjun Sethi being appointed to the board of directors.[27]In January 2021, Kraken released a mobile app for international users, which became available in the US in June 2021.[28] In September 2022, Dave Ripley – then chief operating officer – replaced Powell who became chairman of Kraken's board of directors.[29] In November 2022, the company launched a beta version of its non-fungible token (NFT) marketplace.[30] In February 2023, Kraken shut down its operations in Japan for the second time, and in the United Arab Emirates, less than a year after securing a license in the region.[31][22]In June 2023, Kraken's NFT marketplace officially launched out of beta testing, with the option for users to pay for listings via fiat or cryptocurrency.[32] In September 2023, Bloomberg reported that Kraken planned to trade outside cryptocurrency for the first time, by offering trading in US-listed stocks and exchange-traded funds.[33] Kraken gained a foothold in Europe during 2023 by adding virtual asset service provider (VASP) licenses in Ireland, Italy, and Spain;[34] in October of 2023, Kraken announced plans to continue its European push by acquiring a Netherlands-based crypto-exchange called Coin Meester B.V. (BCM).[35]In March 2024, Kraken launched a new unit called Kraken Institutional, aimed at providing service to institutional investors, hedge funds, and ETF issuers.[36]In April 2024, Kraken released "Kraken Wallet", the company's own crypto wallet, supporting eight blockchains.[37]Government regulator investigations[edit]In April 2018, Kraken refused to cooperate with an investigation by the New York Attorney General's Office regarding the measures taken by cryptocurrency exchanges to protect their customers from market manipulation and money laundering, finding the associated expenditure to be bad for business.[38] The report warned that the Kraken might be breaking the law, suggested that customers stay away from it, and referred the platform to New York State Department of Financial Services for potential violation of local virtual currency regulations.[39][40]In March 2019, the exchange was investigated by the Office of Foreign Assets Control for potential violation of sanction-regimes by allowing trade with customers based in Iran; a settlement was reached in November 2022, with Kraken paying a fine of $362,000 in addition
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