Twitter bans Kraken Exchange Support account

Twitter banned Kraken Support account for trying to warn users about scammers in comments
07 March 2018   1035

Twitter support sometimes manages to surprise everyone with, let's say, strange actions. Now, they decided to ban one of the largest cryptocurrency exchanges – Kraken. The main account @krakenfx is unaffected, but @krakensupport account was suspended due to unspecified “multiple or repeat violations of the Twitter Rules”.

If Kraken is to be believed, and we don't have any indication of the contrary, Twitter support decided to ban Kraken Support account for repeated warnings about scammers, who pretended to be part of the Kraken team with the usual adage of “send us money and get even more money back”. Being the victim of such a fraud didn't agree with Kraken very much, so they decided to warn users via their support account. And Twitter, without investigating who was in the wrong, just banned them.

Quite an interesting story it seems be because even now the accounts of scammers with promises of a giveaways and multiple fake tweets about receiving coins in return are still functional. And Kraken Support, who tried to warn its users about the fraud, is permanently banned. Even under the post about the ban on @krakenfx sprang up several of these shady reply tweets about giveaways, and still clueless Twitter support is sitting on their hands and doing nothing despite numerous spam strikes on the posts.

The campaign against “fake news” on Twitter is still ramping up, maybe even getting some positive results, but is it worth it, if so much common spam get through? And while spam is bad by itself, why not look closer in cases such as this one, at least to correctly determine, who is responsible for ”rule violation”?

As of now, the @krakensupport is back in action, so at least the justice was served, but the trend is worrying, to say the least.

Kraken to Raise $13.5 Thru BnkToTheFuture

2,263 people with an average investment of $100.000 took part in crownfunding campaign, which became record for the platform
25 June 2019   164

The US Bitcoin exchange Kraken raised $ 13.5 million through the sale of private equity through the investment platform BnkToTheFuture (BF). This was the most successful round of financing from individual investors in the history of BF, reports CoinDesk.

So, in total Kraken crowdfunding campaign was attended by 2,263 people with an average investment of $ 100 thousand. The funds raised are probably used by the exchange to make new acquisitions.

It is noteworthy that BF created a subsidiary, which became the recipient of individual investments in order to subsequently act as a single investor for Kraken. This allowed the exchange to bypass the requirements of the US Securities and Exchange Act and not to go to an IPO.

It is noteworthy that Kraken initially intended to raise $ 10.2 million, but the demand for its shares turned out to be higher and the exchange extended the fundraising period.

According to Kraken's own estimates, its capitalization is $ 4 billion.

Earlier this year, the exchange also acquired Crypto Facilities, a trading platform for cryptocurrency derivatives, expanding the range of services offered.