Quote from: figmentofmyass on May 24, 2019, 02:20:43 AM

Quote from: PrimeNumber7 on May 21, 2019, 06:27:05 AM

Quote from: illyiller on May 21, 2019, 06:16:28 AM

Wow, that never even occurred to me. It sounds plausible. Kraken began their fundraising push around December last year, several months after those funds were apparently seized.

Kraken will almost certainly raise their fundraising goal based on the way things are looking.

If they are trying to plug a hole caused by crypto Capital, they will be able to do so, assuming the hole is only the $10 million they are trying to raise. Bitfinex was able to raise ~100x as much money as kraken is trying to raise.

quick update on this---kraken claims they have not used crypto capital for "many years now" and thus were unaffected by the seizure. i guess the inability to service international USD wires for the past several months is just a coincidence.

Quote from: kraken-conor on May 23, 2019, 02:46:36 PM

Hi there!

Please note, Kraken has not used the services of Crypto Capital for many years now, so we are completely unaffected by anything involving their service.

We are currently working on bringing a new international USD funding service to our platform, hopefully we will have this available for our clients very soon!

Thats good to know.

I am curious how they receive and send deposits/withdraws of fiat, and hope other major exchanges can implement similar solutions.

I read they have said they are raising money to increase customer loyalty, that is they are hoping someone who invests in their stock would use their platform for a larger percentage of their trades.

Quote from: o_e_l_e_o on May 23, 2019, 10:03:14 AM

Quote from: PrimeNumber7 on May 23, 2019, 05:48:44 AM

-snip-

Interesting info. I've also been looking in to it a bit more, and found this reddit post from the CEO of Kraken: https://www.reddit.com/r/Bitcoin/comments/41vhzz/im_jesse_powell_cofounder_ceo_at_kraken_ama/cz60can.

It seems like he accepts that these users should have received something in return for the shares, whilst also pointing out the shares were sub par when compared to a proper VC round (as you said). However, he does then say he will reach out to shareholders in the future (that post was 3 years ago), and that doesn't seem to have been done.

Although likely perfectly legal, it seems a bit disingenuous to me to be selling fresh shares without sorting out the issues regarding these older ones first.

I don't know that any resolution would have made the news, and I don't think it would have if Kraken paid a small amount for what amounts to worthless shares.

My presumption is Kraken has a small team of lawyers who advise management on various legal issues. I cannot imagine the acquisition would have closed without a resolution that was legal and did not expose Kraken to liability. It is possible the resolution was not acceptable to some shareholders, but I do not know this would have created any valid claim against Kraken.

When multiple companies merge, or when one company buys another, it is difficult to know the financial details if you are not involved in the transaction because there is no required public disclosure. If you are interested in knowing what happened, and are an accredited investor, you can register on BTTF and ask the question. They make you sign a NDA, so I don't think you could report back. I don't plan to invest, and am not affiliated with BTTF or Kraken.