United States cryptocurrency exchange Kraken has acquired United Kingdom-based cryptocurrency exchange and futures provider Crypto Facilities, the company confirmed in a press release Feb. 4. Crypto Facilities, which began operating in 2015, is fully regulated by the U.K.’s Financial Conduct Authority, giving Kraken a major foothold in the European market. The parties declined to reveal the exact figure involved in the deal, saying only that it was a “nine-figure deal.” “We are excited to introduce eligible clients to these industry leading futures and index products,” Kraken CEO Jesse Powell commented in the press release, adding: “Over the coming months, our …
The United Kingdom’s Advertising Standards Authority (ASA) recently resolved a complaint regarding advertising of Bitcoin (BTC) from the BitMEX crypto derivatives exchange. According to the ASA, the website showed Bitcoin graphs with misleading price dynamics since January 2019. The ASA received four complaints, each accusing the platform of being misleading about Bitcoin investment profitability. The court satisfied the complaints. However, this was not the first time that a state took a tough attitude toward advertisement of cryptocurrencies. Here is an overview of how cryptocurrencies are advertised — or not — in the world right now. Ban, no freedom The first …
Nelson Minier, head of over-the-counter (OTC) trading at major cryptocurrency platform Kraken, has stated that the OTC desk’s trades per month have increased by a factor of 20 since the beginning of last year. Minier gave his remarks in an episode of The Block’s podcast, The Scoop, on Aug. 20. Minier further remarked that “Bitcoin and Ether are the big — the whales of our desk,” additionally estimating that Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Monero (XMR), and Tether (USDT) were the top five cryptocurrencies traded by volume. Minier also gave his projections on BTC price, saying: “I don’t …
United States cryptocurrency exchange Kraken is considering a private offering to high-net-worth investors, Finance Magnates reported Dec. 12, quoting emails sent by the company. Kraken, which is currently the subject of a lawsuit over its support of the competing forks of altcoin Bitcoin Cash (BCH), has reportedly valued its shares at $4 billion. According to Finance Magnates, executives are now offering select major clients to whom the email was sent a chance to acquire further equity, subject to a minimum investment of $100,000. “The transaction process will be done by a 3rd party service, who will run accredited investor checks, …
Robinhood, a major cryptocurrency-friendly stock trading app, is pushing global expansion by acquiring the United Kingdom-based crypto asset firm Ziglu. Robinhood officially announced Tuesday that it had signed a deal to acquire Ziglu, subject to regulatory approvals and other closing conditions. The firm declined to disclose the size of the deal to Cointelegraph. “Subject to regulatory approval, in the near term, nothing will change for current Ziglu customers. Longer-term, we’ll integrate Ziglu more fully into Robinhood, bring the Robinhood brand overseas and work to expand operations beyond the U.K. into Europe,” the spokesperson for Robinhood said. The acquisition aims to …