Month: November 2022

Crypto Exchange Kraken Settles With U.S. Treasury Over Violation of Iran Sanctions

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The crypto exchange Kraken is settling with the U.S. Treasury Department over apparent violations of sanctions against Iran. The US-based crypto exchange Kraken is agreeing to pay a fine of $362,159 to settle the issue with the Treasury Department’s Office of Foreign Assets Control (OFAC), according to the federal agency. The company will also spend $100,000 to beef up its compliance controls with training and technical measures to improve sanctions screening. “Due to Kraken’s failure to timely implement appropriate geolocation tools, including an automated internet protocol (IP) address blocking system,…

Kraken cuts workforce by 30% in an effort to survive crypto winter

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Cryptocurrency exchange Kraken announced on Nov. 30 that it has made one of its “hardest decisions”  and is cutting down its global workforce by approximately 1,100 people, comprising approximately 30% of its total workforce, amid current market conditions. According to CEO and co-founder Jesse Powell, Kraken had to triple its workforce due to the fast-growing crypto ecosystem, and the current pullback takes the size of the company’s team back to where it was 12 months ago. Powell shared in a tweet, “Macro was already tough and we held out but…

Crypto Exchange Kraken Cuts Global Workforce by 30%

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Kraken, one of the longest running cryptocurrency exchanges, has shed its global workforce by 30%, firing approximately 1,100 people “in order to adapt to current market conditions.” Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! The action, which the United States-based crypto exchange announced on Wednesday, comes at a time when some crypto firms based in the country are undergoing bankruptcy proceedings. These include Chicago-based FTX.US, the US subsidiary of beleaguered…

Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

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BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable? Bitcoin (BTC) has shrugged off the weakness in the United States equities markets and is attempting to start a recovery on Nov. 30. Buyers are attempting to achieve a monthly close above $17,000. This suggests that the selling that had picked up due to the FTX crisis may be reducing. Usually, smaller investors panic and dump their holdings in a bear…

The Ethereum Foundation Commences Shutdown of Ropsten Testnet

Ethereum runs testnets so that developers can run software before launching it on Ethereum’s main network (mainnet). Test networks essentially act as copies of the Ethereum mainnet, and they allow client teams, infrastructure providers and developers to test any changes to their applications before launching them in a more high-stakes environment. Source CommencesEthereumFoundationRopstenShutdownTestnet CryptoX Portal