Former Employee to Sued Kraken

Jonathan Silverman believes that exchanges owns him almost one million dollars
08 April 2019   207

Jonathan Silverman, a former employee of one of the oldest Bitcoin exchanges Kraken, filed a lawsuit against it, accusing that the platform management did not pay him for the work he had done. This is reported by Bloomberg.

According to the lawsuit filed on April 4, Kraken hired Silverman in April 2017 as manager of institutional sales and trading in New York. In agreement with the main exchange, Jess Powell, Silverman was paid a salary of $ 150,000 per year, but the plaintiff also claims to have a verbal agreement that the exchange will pay him 10% of the annual profit of the trading department.

According to Silverman, for three and a half months in 2017, this area of ​​activity brought Kraken more than $ 19 million, but he never saw the promised commissions of $ 907,631. Representatives of the San Francisco-based exchange are categorically denied the charges.

[Silverman] is both lying and in breach of his confidentiality agreement. 

Christina Vee

Spokeswoman, Kraken

In April 2018, after the request of the former Attorney General of New York, Eric Schneiderman, demanding the disclosure of information about the activities of the largest exchanges, Kraken refused to cooperate with the state. Earlier, in 2015, the exchange announced it would cease operations in the state of New York, refusing to apply for a BitLicense.

In his lawsuit against the exchange, Jonathan Silverman disputes this, arguing in particular that, contrary to all public statements, the activity of the Kraken OTC platform is almost entirely conducted in New York.

Just because some people in the cryptocurrency space don’t believe the rules apply to them doesn’t mean that’s the way things actually work.

David Silver

One of the attorneys representing Silverman

In 2018 the number of requests of various government structures to the Kraken exchange in 2018 increased threefold - from 160 to 475. In particular, requests to clarify certain aspects of the exchange’s work were sent by the Bureau of Investigations of the National Security Agency, the FBI, the Office of drug control, as well as financial regulators in the face of the SEC and CTFC.

Bibox Exchange to Conduct 4 IEO Simultaneously

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens and the IEO to be perfomed at Bibox's Orbit platform
19 April 2019   99

Bibox cryptocurrency exchange presented four projects that will conduct the initial exchange offering of their tokens as part of the first wave of IEO on April 22 on the Bibox Orbit platform.

  1. The Force Protocol (FOR) is a distributed protocol of crypto-financial services based on a public blockchain system, providing opportunities for cross-platform asset transaction and communication, use of crypto assets from several blockchains to provide steybcocoins, issue tokenized bonds, etc.
  2. Ludos (LUD) is a solution for a distributed gaming ecosystem designed to bring large-scale blockchain games and economic incentives to life.
  3. Staking (SKR) is a decentralized asset management platform that allows investors to safely stack tokens.
  4. X-Block (IX) is a computing system based on the blockchain architecture.

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens. Potential investors will be able to declare how many tokens of a project they want to purchase based on their BIX, after which a separate rally will be held for each of the projects.