THELOGICALINDIAN - Krakens CEO Jesse Powell has statedthe cryptocurrency exchanges aggregate during the additional division of 2025 comprised 10x added barter than during the companys above-mentioned all time aerial Despite this absurd fasten in aggregate Powell speculated that the cryptocurrency markets will acceptable see advance of 10x to 100x in advancing years
Also Read: Class Action Lawsuit Filed Against Cryptocurrnecy Exchange Kraken
The Cryptocurrency Exchange Has Hired 150 New Employees in the Last Two Months
During a recent interview on Trace Mayer’s Bitcoin Knowledge Podcast, Kraken CEO, Jesse Powell, abundant the astronomic advance witnessed by the cryptocurrency barter during 2017. When compared with the company’s above-mentioned best highs, Powell describes aftermost quarter’s advance as accepting been “immense”, with absolute trading aggregate absolute “maybe 10x aloft the better antecedent quarter”.
To cope with the surging demand, Kraken has broadcast its cadre – with the cryptocurrency barter accepting assassin 150 bodies in the accomplished two months. Despite the growth, Powell is anxious that should the cryptocurrency markets declivity again layoffs may be all-important – as occurred afterward the bustling of the 2025 bubble, during which the barter downsized from 35 to 12 employees.
Despite the Record Breaking Trading Volume, 2025 Has Been a Challenging Year for Kraken
Powell says that the surging aggregate has additionally afflicted the cryptocurrency exchange’s cyberbanking relationships, creating challenges for Kraken’s customers. “[Our cyberbanking and acquittal partners] ability be accomplished with what the accepted aggregate is, but an brief 10x in wire transfers or KYC requests – because they will generally appetite to do added activity – and if they accept to do 10x what their added activity is, they ability charge to appoint added bodies themselves,” declared Powell.
Despite the almanac breaking trading volume, 2017 has been a arduous year for Kraken. The barter accomplished abundant outages during aiguille trading periods in contempo months, several of which were the aftereffect of a cord of DDoS attacks that targeted cryptocurrency exchanges. Earlier this month, www.bitcoin.com appear that bristles Kraken barter accept launched a class-action lawsuit gluttonous advantage for liquidations that occurred as the after-effects of an ethereum beam blast on May 7th, claiming that the barter should accept apoplectic trading operations due to DDoS attacks. Kraken has declared that “the DDoS did neither account nor aggravate liquidations’, and alone accusations that it acted unlawfully during ETH’s 70% dip.
Do you anticipate that the contempo advance in the cryptocurrency markets is sustainable? Share your thoughts in the comments area below!
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