#Kraken Waives Trading Fees for FTX Creditors#
Hot Topic Overview
Overview
Kraken announced trading fee waivers for customers receiving funds from FTX. New customers will have their trading fees waived on purchases of up to $50,000 in crypto on Kraken Pro. As one of the partners in the distribution of funds to FTX creditors, Kraken hopes to help users reinvest the funds they receive from FTX more conveniently into the cryptocurrency market by waiving trading fees. Specifically, users will receive a certain amount of Kraken trading fee credit based on the amount of funds they receive, which will be credited to their accounts upon receiving the FTX distribution.
Ace Hot Topic Analysis
Analysis
Kraken announced a crypto trading fee waiver for new customers receiving funds from FTX, up to $50,000. This comes after Kraken was chosen as one of the partners to distribute funds to former FTX customers. As these payouts will be made in USD, Kraken wants to minimize the cost for users to reinvest this money into crypto. Therefore, new users choosing Kraken to receive funds from FTX will receive a fee waiver, allowing them to purchase up to $50,000 worth of crypto on Kraken Pro without paying any trading fees. Depending on the amount of funds received, users will receive a certain amount of Kraken Trading Fee Credit (KFEE), which will be credited to their account upon receiving the FTX distribution. This move aims to help FTX creditors more conveniently reinvest their funds into the crypto market and attract more users to the Kraken platform.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Kraken offers trading fee waivers to FTX creditors, aiming to lower the cost for them to reinvest their funds into crypto.
Kraken's move is aimed at attracting former FTX customers and encouraging them to keep their funds in the crypto market.
Kraken's trading fee waivers are capped at $50,000, which may have limited appeal for smaller funds.
Kraken's move could trigger similar initiatives from other exchanges to compete for former FTX customers.