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Kraken Blog 2024-12-16 17:43:32

Kraken chosen as distribution partner by the FTX Debtors

Kraken chosen as distribution partner by the FTX Debtors

We have entered into an agreement with FTX Trading Ltd. (“FTX”) and its affiliated debtors (the “FTX Debtors”) to assist in distributing recoveries to retail customers in supported jurisdictions in accordance with the U.S. bankruptcy court-approved FTX Chapter 11 Plan of Reorganization. To ensure clients receive funds when distribution starts, they can complete the necessary steps through FTX Debtors’ Customer Portal ( https://claims.ftx.com ) and select “Kraken.” We were founded over 13 years ago based on the belief that for crypto to flourish it was imperative to build an exchange people can trust. This was prompted by our founder Jesse Powell’s experience helping Mt. Gox recover from a hack in 2011. The lack of controls and security standards witnessed prompted him to co-found crypto’s first truly secure and professional exchange. Ever since, security and client service have been the cornerstones of everything we do. We have a long track record of setting industry standards and demonstrating industry leadership by volunteering our resources to recover lost funds. To prove we back client account holdings with in-kind, fully reserved assets, we pioneered the Proof of Reserves process in 2014 and have committed to undertaking it regularly since January 2022. In 2014, we were asked to support the investigation following the collapse of Mt. Gox and in 2024 we were selected to support the distribution of funds to Mt. Gox creditors. These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here . The post Kraken chosen as distribution partner by the FTX Debtors appeared first on Kraken Blog .

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