Category: Exchanges

Continued Crypto Winter Forces Kraken Exchange To Reduce Workforce by 30%

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Digital asset exchange Kraken is downsizing its workforce as a means of staying afloat during the ongoing crypto winter that continues to pummel the industry. In a new statement, Kraken co-founder and former CEO Jesse Powell says that the current macroeconomic and geopolitical conditions have resulted in significantly lower trading activities and sign-ups on the platform. The executive says that Kraken has exhausted all other means to align costs with demand, compelling the company to let go of 1,100 workers or 30% of its employees. “As one of the longest…

TP ICAP Gains UK Registration for Institutional Crypto Exchange

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TP ICAP’s wholesale exchange for crypto assets, Fusion Digital Assets, has registered with the Financial Conduct Authority (FCA Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of…

Telegram Will Build New Decentralized Exchange and Crypto Wallet, According to Founder Pavel Durov

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The founder of messaging app Telegram is announcing the development of a new decentralized exchange (DEX) platform and crypto wallet. In a new post to his channel, Telegram founder and CEO Pavel Durov says that blockchain developers should go back to the roots of crypto and focus on decentralization as centralized entities tend to abuse their power. “The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power. As a result, a lot of…

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,…

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…

Telegram CEO Durov Plans to Build Crypto Wallets, Decentralized Exchange

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The statement is the first confirmation of Telegram’s direct involvement with integrating TON blockchain into the messenger. Earlier, Durov spoke of the blockchain development as a community project Telegram was just happy to watch. The system, earlier known as Newton and Toncoin, is one of two rival projects that grew out of the initial TON concept developed by Telegram; both were developed by the community of supporters, however, only one ended up with Telegram’s official recognition. Source

Trading Technologis Expands Coverage to Four APAC Exchanges

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Trading Technologies (TT), a provider of professional software for traders, announced on Wednesday that it is extending its market coverage by adding four popular exchanges from the Asia-Pacific (APAC Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local…