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Kraken allegedly firing employees in hundreds, Halifax and Dartmouth become the target locations

Priyamvada Singh



Kraken allegedly firing employees in hundreds, Halifax and Dartmouth become the target locations
Source: Pixabay

On 5th September, a well-known cryptocurrency exchange Kraken in Halifax, Canada attracted the controversy regarding the firm firing its employees in a large number at once. Unit 102 at 60 Highfield park drive relieved its employees in hundreds, a Redditor alleged. The user also wrote on the social media platform that Kraken did this in response to a security breach.

The Reddit discussion post also read:

“[…] a giant commotion happening up there and private security all over the place escorting people off the premises after making them sign voluntary quit forms was anyone here one of those people?”

This ignited an argument in the forum wherein multiple users shared their opinions. One of the users named Spaceforcemuffins stated that the alleged activity of Kraken firing its employees is not illegal. Despite this, the user also wrote that the Kraken office in Highfield is a new location for the company.

Furthermore, Kraken had reportedly installed security programs on its employees’ cell phones to keep them under surveillance in case of any institution of anti-company activities, stated Spacforcemuffin. Here, the Redditor also added:

“Furthermore, I was told they generate in the millions of dollars daily, how can they go under? Diversify your bonds people.”

The discussion moved ahead when ItsSignalNotSpyware, a Reddit handle got involved and implied that the security tool installed by Kraken on the cell phones is Signal. The handle also explained that the application encrypts the calls and texts that go through the app. Another joiner to the forum further confirmed the encryption feature of the app, claiming to have used it for several years.

On Twitter, a user named Sean Hartt took to the platform to confirm the rumored shutdown of Kraken in Halifax. He asked about the updates on the closure of the exchange and security forcing the staff out. Here, the Twitter handle of Kraken Support replied:

“Hey Sean! // We can confirm that we are not shutting down any operations in any specific place, and there has been no security breach. Everything is fine & secure.”

In addition with the rumors carrying events at the Highfield location, a Twitter user by the name I AM THE KRAKEN also alleged that several employees were escorted into cabs by the Kraken security at the Dartmouth location as well.

Recently, another Bitcoin ETF was rejected by the US Securities and Exchanges Commission [SEC] wherein it gave multiple reasons for the decision. Here, Kraken was one of the mentioned causes for the SEC’s disapproval.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


Is Binance 2.0 and margin trading really accessible for ‘everyone?’




Binance 2.0 and margin trading is accessible for 'everyone' or Is it?
Source: Unsplash

Binance, one of the world’s largest exchanges, announced recently that Binance’s upgraded version, Binance 2.0, was available to everyone. CZ tweeted,

“While #bitcoin is on a tear on price, @Binance have rolled out Binance 2.0, with margin access to everyone. In bear and bull markets, we #BUIDL!”

The margin trading feature which was previously available for limited users has now been made available for everyone. Although CZ’s tweet says it is available to everyone, there is still a catch to this. It is not available for users in countries where crypto-jurisdictions are unclear. These include the U.S, Iran, North Korea, Syria, Cuba, Crimea, Canada, Japan, and South Korea.

CZ followed up the above tweet with another, talking about performance, a “key improvement” that comes with Binance 2.0. Previously, when trading volume rose, users would suffer from lags and other performance issues. However, the upgrade will solve each of these issues, said CZ.

“One of the key improvements in this upgrade that not easily visible is performance. During peak times, if you experience lag or other performance issues, be sure to try out 2.0. We will soon decommission the “1.0” version due to legacy performance bottlenecks.”

However, even after CZ’s announcement, margin trading is still not accessible to a few users. These users were greeted with a notification which said, “This feature is only available for invited users.” A lot of users have complained about the same, with CZ yet to put out a statement about the same.

Additionally, Binance has announced the start of BEP2, which is a community listing program where Binance lists one project every month for three months. This will extend from the 20th of a month and extend to the 20th of the next month. Any of the following coins, as seen in the tweet below, might be listed on Binance over the coming days.

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