Kraken has introduced a brand new initiative for purchasers receiving funds from FTX on its platform. These purchasers will probably be eligible for price credit, permitting them to commerce as much as $50,000 in cryptocurrency with out incurring buying and selling charges.
In December, Kraken was chosen as a associate for distributing funds to former FTX purchasers. The corporate goals to cut back the price of changing these US greenback payouts into cryptocurrencies.
Eligible purchasers will obtain as much as $105 in Kraken buying and selling price credit (KFEE), primarily based on the quantity of funds obtained. These credit will probably be obtainable on Kraken Professional and credited upon receipt of the FTX distribution.
📣 Saying zero buying and selling charges for crypto as much as $50k for FTX collectors 🤝
New purchasers that choose Kraken to obtain their funds from FTX will obtain price credit that permit them to purchase as much as $50k in crypto on Kraken Professional with out charges
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— Kraken Alternate (@krakenfx) January 9, 2025
Kraken Professional Price Credit for Buying and selling
Shoppers can full essential steps via the FTX Debtors’ Buyer Portal to make sure they obtain their funds. Eligibility requires full onboarding and id verification for purchasers in supported areas. The price credit will probably be accessible inside days of the deposit and are usable solely on Kraken Professional, which gives spot, margin buying and selling, and staking providers.
Kraken maintains its safety requirements via its Proof of Reserves course of, which started in 2014 and has been performed often since 2022. The corporate has participated in notable circumstances, together with the Mt. Gox collapse investigation and the 2024 fund distribution to Mt. Gox collectors.
