Suspicious behavior on Kraken exemplifies the gap between crypto and legacy market structure6

[related id="1"] While analysis of wash trading and other manipulative practices across crypto exchanges continues to surface, even the more respected exchanges can flash signs of shortcomings in the crypto market. In terms of institutional coverage, the gap between legacy equity market structure and crypto continues to be a roadblock for institutional investors that require specific fiduciary benchmarks to be met.

Fresh off its $100 million fundraise, Kraken the San Francisco-based cryptocurrency exchange last exploring a raise at a $4 billion valuation, recently brought on five new members to its leadership team hoping to address these structural gaps. Some of the new hires have decades of experience managing trading desks for firms including JPMorgan, Citibank, Credit Suisse, and running execution strategies at CME Group.

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