More than $13 million has been raised by Kraken, a cryptocurrency exchange based in San Francisco, in financing on BnkToTheFuture, an online investment platform. Around $13.5 Million has been raised by Kraken from 2264 financiers, exceeding its initial $10.2-million target supposedly owing to popular demand. Kraken’s fundraising campaign—that has over 4 Million customers in almost 200 nations—is the most triumphant funding round on BnkToTheFuture by individual contributors.
Kraken, as reported earlier, raised more than $6 Million on the campaign’s first day from nearly 300 financiers. Kraken, on BnkToTheFuture, depicts itself as the only regulated spot and futures cryptocurrency exchange with more than $85 Billion in 2018 alone in trading volume, making 387% compound annual growth rate.
Kraken, in recent months, has made some improvements in international expansion and security. The exchange, in late March, made two-factor authentication (2FA) obligatory for the users of the exchange. The step is a section of a broader set of modifications added in its security features roadmap that covers “into 2020 and beyond,” but, at present, which is not available to the public.
Earlier this year, Kraken procured Crypto Facilities, a United Kingdom futures provider, in a step that produced considerably amplified interest in its solutions. Crypto Facilities—that started functioning in 2015—is entirely handled by the Financial Conduct Authority of the UK providing Kraken a key grip within the European market.
Likewise, Bitcoin’s price has rushed over $11,000 (£8,600), its maximum point in 15 months, in the middle of renewed publicity over cryptocurrencies after the social media giant Facebook stated it was intending to introduce a digital currency in the upcoming year. Bitcoin, in a week, has increased in value by nearly $2,000 since the company disclosed plans to introduce a cryptocurrency named Libra, in a step that can drastically restructure the financial landscape with extensive implications for central banks and governments worldwide.