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I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about wher

I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about where the funding originates.

pedalpete 4y ago
Along with Coinbase, my understanding is they are one of the more reputable exchanges. Looks like they are the 3rd largest exchange now behind Binance and Coinbase. https://coinmarketcap.com/rankings/exchanges/ https://coinmarketcap.com/rankings/exchanges/ The founder moved from CEO to Chairman earlier this year. He's always said they never have traded with customer funds, though they have offered leverage to customers, I'm not sure how that was accomplished, or what backed it. https://techcrunch.com/2022/10/11/kraken-jesse-powell-crypto-ceo-chain-reaction-podcast/#:~:text=Jesse%20Powell%20is%20stepping%20down,by%20volume%2C%20according%20to%20CoinMarketCap https://techcrunch.com/2022/10/11/kraken-jesse-powell-crypto....
- extraduder_ire 4y ago
  > though they have offered leverage to customers, I'm not sure how that was accomplished, or what backed it. Margin's pretty easy to offer on crypto exchanges. Most of the ones I've seen will do a market sell as soon as your positions become illiquid. I doubt the computation involved in doing that for all accounts perfectly is tractable though.
  - pedalpete 4y ago
    Interesting. So the max that can be lost is 100%? Seems like a feature that would benefit from being explained better, if that is how it works.
  - rdtwo 4y ago
    Yeah but they can get in real trouble if they market gapped over and went straight to 0 or illiquid
Melting_Harps 4y ago
> I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about where the funding originates. Jesse is and has been a solid member of the BTC community for over a decade; he doesn't do as much PR as that clown Armstrong does, especially not in the SV/VC circles until recently since he's stepped down, but the guy is sharp and he knows why he got into it. Kraken still remains after all this time and was around since the latter days of MTGOX. And just so it's clear PoR has been something exchanges have been independently verifying since the final goxxing in 2014, but ultimately you are trusting that they won't restrict withdraws which is ALWAYS a gamble regardless of situation or circumstance hence why 'not your keys, not your coins' has become a mantra for over a decade. Anyhow here are a few interviews: Stance on RU: https://www.youtube.com/watch?v=K3kdKkvkCZo https://www.youtube.com/watch?v=K3kdKkvkCZo Anti-woke BS: https://www.youtube.com/watch?v=_gkEsvff9k8 https://www.youtube.com/watch?v=_gkEsvff9k8 Stepping down as CEO: https://www.youtube.com/watch?v=1eWX4AqS3B8 https://www.youtube.com/watch?v=1eWX4AqS3B8 On FTX and SBF scam: https://www.youtube.com/watch?v=LHdhXEJ4yTY https://www.youtube.com/watch?v=LHdhXEJ4yTY

I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about where the funding originates.

pedalpete 4y ago

Along with Coinbase, my understanding is they are one of the more reputable exchanges. Looks like they are the 3rd largest exchange now behind Binance and Coinbase. https://coinmarketcap.com/rankings/exchanges/ https://coinmarketcap.com/rankings/exchanges/ The founder moved from CEO to Chairman earlier this year. He's always said they never have traded with customer funds, though they have offered leverage to customers, I'm not sure how that was accomplished, or what backed it. https://techcrunch.com/2022/10/11/kraken-jesse-powell-crypto-ceo-chain-reaction-podcast/#:~:text=Jesse%20Powell%20is%20stepping%20down,by%20volume%2C%20according%20to%20CoinMarketCap https://techcrunch.com/2022/10/11/kraken-jesse-powell-crypto....

extraduder_ire 4y ago
> though they have offered leverage to customers, I'm not sure how that was accomplished, or what backed it. Margin's pretty easy to offer on crypto exchanges. Most of the ones I've seen will do a market sell as soon as your positions become illiquid. I doubt the computation involved in doing that for all accounts perfectly is tractable though.
- pedalpete 4y ago
  Interesting. So the max that can be lost is 100%? Seems like a feature that would benefit from being explained better, if that is how it works.
- rdtwo 4y ago
  Yeah but they can get in real trouble if they market gapped over and went straight to 0 or illiquid

Melting_Harps 4y ago

> I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about where the funding originates. Jesse is and has been a solid member of the BTC community for over a decade; he doesn't do as much PR as that clown Armstrong does, especially not in the SV/VC circles until recently since he's stepped down, but the guy is sharp and he knows why he got into it. Kraken still remains after all this time and was around since the latter days of MTGOX. And just so it's clear PoR has been something exchanges have been independently verifying since the final goxxing in 2014, but ultimately you are trusting that they won't restrict withdraws which is ALWAYS a gamble regardless of situation or circumstance hence why 'not your keys, not your coins' has become a mantra for over a decade. Anyhow here are a few interviews: Stance on RU: https://www.youtube.com/watch?v=K3kdKkvkCZo https://www.youtube.com/watch?v=K3kdKkvkCZo Anti-woke BS: https://www.youtube.com/watch?v=_gkEsvff9k8 https://www.youtube.com/watch?v=_gkEsvff9k8 Stepping down as CEO: https://www.youtube.com/watch?v=1eWX4AqS3B8 https://www.youtube.com/watch?v=1eWX4AqS3B8 On FTX and SBF scam: https://www.youtube.com/watch?v=LHdhXEJ4yTY https://www.youtube.com/watch?v=LHdhXEJ4yTY