Kraken Offers FTX Creditors up to $50K in Zero-Fee Crypto Trading

CHEYENNE, Wyo.--(BUSINESS WIRE)--Kraken, one of the longest-standing, most liquid and secure cryptocurrency exchanges, today announced that new clients receiving their funds from FTX on the Kraken platform will receive fee credits that allow them to buy up to $50,000 in crypto without paying any trading fees.

In December Kraken was selected as one of the partners for the distribution of funds to former clients of FTX. Since these payouts will be in U.S. dollars, the company wants to minimize the cost of reinvesting that money into crypto for those who decide to put their trust in us.

Proportional to the amount of funds received, these new clients will receive up to $105 in Kraken trading fee credits (KFEE) for use on Kraken Pro. These will be credited to the client’s account upon receipt of the FTX distribution.

To ensure clients receive their funds when FTX distributions start, they can complete the necessary steps through the FTX Debtors’ Customer Portal (https://claims.ftx.com) and select “Kraken.”

To be eligible, clients in supported jurisdictions should ensure they complete the full onboarding and identity verification process. The fee credits will become available in the account within a few days of receiving the deposit. Fee credits can only be used on Kraken Pro, the one-stop destination for accessing spot, margin trading and staking - all in one powerful interface. For more information on KFEE please visit this article on our Support Center.

Clients that select Kraken will benefit from the best possible trading and client experience and world class security. Our platform gives access to deep liquidity, tight spreads and a dedicated 24/7/365 support team through chat, phone and email. All backed by a world class security team that continues to push the bar on setting the highest standards of security to protect your assets.

Kraken was founded over 13 years ago based on the belief that for crypto to flourish it was imperative to build an exchange people can trust. This was prompted by founder Jesse Powell’s experience helping Mt. Gox recover from a hack in 2011. The lack of controls and security standards witnessed prompted him to co-found crypto’s first truly secure and professional exchange.

Ever since, security and client service have been the cornerstones of everything Kraken does. It has a long track record of setting industry standards and demonstrating industry leadership by volunteering resources to recover lost funds.

To prove client account holdings are backed with in-kind, fully reserved assets, Kraken pioneered the Proof of Reserves process in 2014 and has committed to undertaking it regularly since January 2022. In 2014, the company was asked to support the investigation following the collapse of Mt. Gox and in 2024 we were selected to support the distribution of funds to Mt. Gox creditors.

About Kraken

Kraken is one of the world’s longest-standing and most secure crypto platforms. Our mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 200 digital assets and 6 different national currencies, including GBP, EUR, USD, CAD, CHF, and AUD.

Founded in 2011, Kraken was among the first to offer spot trading with margin, parachain auctions, staking, regulated derivatives and index services under one roof. With millions of individuals, traders and institutions around the world, Kraken offers professional 24/7/365 client support along with one of the fastest, most performant trading platforms available. Kraken has set the industry standard for transparency and client trust, and was the first crypto platform to conduct Proof of Reserves.

In 2024, Kraken ranked 14th in Newsweek’s Global Top 100 list of Most Loved Workplaces. The only crypto company to have made the list two years in a row, this showcases how the platform offers one of the world’s most compelling employment opportunities.

Kraken markets can be monitored and traded via the web or through the Kraken and Kraken Pro iOS and Android apps.

For more information about Kraken, please visit www.kraken.com.