“Similarly, Kraken has held at times more than $5 billion worth of its customers’ cash, and it also commingles some of its customers’ cash with some of its own,” the suit said. “In fact, Kraken has at times paid operational expenses directly from bank accounts that hold customer cash.”
Related posts
-
Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
Gensler has been on the forefront of those actions, being openly skeptical of cryptocurrencies. Just last... -
Securities and Exchange Commission (SEC) Seeks to Dismiss Three of Crypto Exchange Kraken’s Defenses in U.S. Lawsuit
The SEC sued Kraken in November 2023 for operating a platform as an unregistered securities exchange,... -
JPMorgan Renames Blockchain Platform to Kynexis, to Add On-Chain FX Settlement for USD, EUR
The banking giant was one of the early leaders in applying blockchain tech to traditional financial...