Big Moves in Crypto

In a groundbreaking shift within the cryptocurrency realm, Kraken, the heavyweight exchange, has made waves by acquiring Staked, a blockchain infrastructure firm and investment manager. While the financial details remain under wraps, Kraken has heralded this as ‘one of the largest crypto industry acquisitions to date.’

Why Staked?

So, what’s the motivation behind this significant move? For Kraken, the acquisition isn’t just about numbers, but rather about enhancing its portfolio of yield products. Jesse Powell, the CEO of Kraken, highlighted that Staked’s users will soon enjoy seamless access to an array of Kraken’s staking offerings.

Staking: The New Paradigm

Staking has become the hot topic in crypto, and Kraken isn’t one to back down from the trend. With their staking business skyrocketing by over 950% this year, reaching a whopping $16 billion in November, it’s clear that investors have an appetite for these yield-generating mechanisms.

• Access to topping funds
• Ensured safety for investments
• Enhanced customer experience

The Power of Proof-of-Stake

Tim Ogilvie, the CEO of Staked, pointed out that the decision to partner with Kraken stems from the exchange’s dedication to supporting proof-of-stake networks. In an era where securities and customer trust are paramount, this alliance positions Kraken as a robust player in the staking market.

The Future of Kraken

As we move into 2022, Kraken is not simply resting on its laurels. With a series of acquisitions under its belt, including the likes of Interchange and Cryptowatch, the exchange is gearing up for an even bigger splash. Rumors suggest a public offering could be on the horizon by the end of 2022. Keep your eyes peeled, because Kraken might just redefine what it means to be a player in the cryptocurrency exchange arena.