• Days
  • Hours
  • Mins
  • Secs
  • Mon, 16 Sep 2019, 02:09 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Kraken’s lofty promise pushes crowdfunding figure to over $13M

Wed, 26 Jun 2019, 04:00 am UTC

A recent crowdfunding round for cryptocurrency exchange Kraken has gone over $13.5 million, as of writing. That is $3 million over its initial goal but more than $1 million short of its second goal. This is considered to be an astounding development for several reasons.

Kraken basically wanted to raise money so that it can finally break through the $4 billion valuation ceiling, Coindesk reports. Bnk To The Future (BF) co-founder Simon Dixon said that this will enable the exchange to fund more acquisitions. In 2018, Kraken was one of the biggest crypto hubs with more than $85 billion in trade volume.

The latest crowdfunding drive is in line with Kraken's plans to provide additional financial services and products for the cryptocurrency industry.

Dixon noted that the amount put in by an average investor amount in this round was ten times what other funding rounds had seen. He also pointed out that the majority of the pledges this time mostly consisted of fiat. Usually, the split is 70/30, with 70 percent being cryptocurrency and only 30 percent being fiat. This time, the figure was 40/60.

That last part is being attributed to clients simply holding off on using their crypto assets since their values are currently rising. However, the unusual level of interest in supporting the crowdfunding is being attributed to the email the exchange sent to investors regarding CryptoWatch, a charting and trading platform acquired by Kraken in 2017.

“CryptoWatch Premium membership, the ability to leverage shares for margin collateral, priority service from our client support team, invitation to Kraken’s exclusive investor chat room, subscription to Kraken’s Daily Hash newsletter and OTC Daily report, bi-annual Kraken investor update, beta access to new Kraken products and features, limited edition Kraken swag, [and] 5% investment rebate in KFEE,” the email reads.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,380.50 (+0.32%)
  • Ethereum (ETH) $194.01 (+3.11%)
  • XRP (XRP) $0.263300 (+0.63%)
  • Bitcoin Cash (BCH) $307.59 (+0.64%)
  • Litecoin (LTC) $71.86 (+1.37%)
  • Bitcoin (BTC) $10,380.50 (+0.32%)
Sep 13, 2019 (Friday)
11:12
Libra Association head confident about crypto launch in H2 2020
10:42
Blockchain industry welcomes Mastercard-R3 collaboration, but skeptical about the future of private networks
09:52
tZERO to bring blockchain to film financing via new partnership
09:11
France mulls blocking Facebook's Libra project on European soil as FINMA chief weighs pros and cons of the cryptocurrency
07:26
Thailand's PTT, Energy Web Foundation to develop blockchain renewable energy marketplace
07:17
Russia’s Alfa-Bank launches liquidity management service on Waves Blockchain
06:40
Zelle co-founder Mike Kennedy replaces Adam Ludwin as CEO of Interstellar
06:34
Crypto Technicals: XMR/USD recovery lacks traction, price action capped below 21-EMA (75.86)
05:56
Crypto Technicals: BTC/USD trades range-bound, no clear directional bias
05:03
PundiX to launch a fully blockchain-powered phone Blok on Blok (BOB)
04:54
Cryptokitties maker Dapper Labs secures $11.2M to develop blockchain Flow, scores deals from Warner Music, Ubisoft
04:48
Crypto exchange Huobi likely to attempt backdoor IPO in Hong Kong
03:49
Binance's NYDFS-approved stablecoin BUSD is now live on Paxos, to be listed on Binance next week
03:33
Deutsche Telekom's T-Labs launches blockchain e-mobility pilot 'Xride'
Sep 12, 2019 (Thursday)
12:24
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:13
Binance Futures to go live on September 13
11:43
Santander issues $20M bond using Ethereum blockchain
08:55
Binance US to open user registration next week
07:38
Marshall Islands to launch a pre-sale for its blockchain-based national cryptocurrency
06:38
United Kingdom leads with most number of registered cryptocurrency exchanges: Study
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft