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Author: Admin | 2025-04-27
From Wikipedia, the free encyclopedia KrakenTypeCryptocurrency exchangeLocationSan Francisco, California, United StatesCoordinates37°47′24″N 122°24′03″W / 37.790024°N 122.4008331°W[1]FoundedJuly 28, 2011; 13 years agoOwnerPayward, Inc.[1]Key peopleArjun Sethi (co-CEO),[2] Dave Ripley (co-CEO)[1]CurrencyCryptocurrencies:[3] BTC, ETH, DOT, ADA, DOGE, XMRFiat currencies: USD, EUR, JPY, GBP, CAD, AUD, CHF, AEDWebsitekraken.comKraken (legally named Payward, Inc.) is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal[citation needed] The company has been the subject of several regulatory investigations since 2018, and has agreed to cumulative fines of over $30 million.[4] It was the first cryptocurrency company to obtain a bank charter.[5]Kraken was co-founded in 2011 by Jesse Powell, an alumnus of California State University, Sacramento, with Thanh Luu and Michael Gronager.[6][7] Powell was a consultant for Mt. Gox in resolving a security issue, and began working on Kraken as a replacement, anticipating its death; Gox did collapse in 2014, failing security audits.[8][7] In September 2013, Kraken was launched, offering Bitcoin, Litecoin, and euro trades initially before going on to add additional currencies and margin trading.[9]In March 2014, Kraken received a $5 million Series A investment from Hummingbird Ventures and Bitcoin Opportunity Fund.[10][11] A month later, Kraken became one of the first bitcoin exchanges to be listed on Bloomberg Terminal.[12] The same year, Kraken was chosen to assist with the investigation of lost bitcoins of Mt. Gox; the bankruptcy trustees relied upon Kraken due to its proven operating history without being breached by hackers.[13] In June 2015, Kraken opened the first dark pool for bitcoins.[14]In January 2016, Kraken purchased Coinsetter and Cavirtex, an exchange based out of New York City.[15] With the purchase, clients automatically had accounts transferred over to Kraken.[16] A month later, Kraken announced the completion of its Series B round of investment, led by the SBI Group; the company also acquired Dutch exchange CleverCoin,[17] and Glidera, a cryptocurrency wallet service.[18] In March 2017, Kraken acquired Cryptowatch, a charting and trading platform.[19] By December 2017, Kraken claimed to be registering up to 50,000 new users a day.[20]In April 2018, Kraken announced closure of its services in Japan due to the rising costs of doing business;[21] the company returned to the Japanese market in 2020.[22] In February 2019, Kraken acquired Crypto Facilities, a British derivatives trading firm.[23] In June 2019, Kraken received $13.5 million from 2,263 individual investors via a special-purpose vehicle.[24] In September 2020, Kraken was granted
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