Kraken Crypto Exchange Goes On The Defense By Denying Business Closure Rumors


Cryptocurrency exchange Kraken has been the subject of some dismal rumors that it is winding up its business in Halifax, Canada. Kraken, though, has denied the rumors. The rumors are circulating on Reddit, in which one user stated that the branch is closing its San Francisco branch that operates as a customer support office. The office’s closure would leave hundreds without a job. Also on Reddit are rumors that the platform experienced a security breach.

As the user stated,

“[there was] private security all over the place escorting people off the premises after making them sign voluntary quit forms.”

Another Reddit corroborated the story, and said,

“[s]ecurity everywhere, required to hand in door fobs. Sitting in the lunchroom get told that due to volumes being down (both trading and support ticket), and in light of the opening of a new office in Asia, we need to reduce costs, and lay off of recently hired (<3 months, approx. 57 people) was not enough.”

Kraken’s support team responded to the rumors on Twitter and posted that it can,

“confirm that we are not shutting down any operations in any specific place, and there has been no security breach. Everything is fine and secure.”

The firm denial seems to not have helped. Many in the community are still under the impression that the platform is shutting its doors. Interestingly enough, at the same time, the platform is also looking to register with US regulators as a licensed broker-dealer or in the alternative, an alternative trading system.

If the registration is successful, Kraken ATS will be able to provide a secondary market liquidity for ICO tokens offered and sold as securities.

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