Kraken freezes FTX and Alameda accounts, 'maintains full reserves'

Quick Take

  • Kraken has frozen accounts owned by FTX Group, Alameda Research and their executives.
  • The crypto exchange said that its other clients’ funds are not affected and that it “maintains full reserves.”

Kraken has frozen accounts owned by FTX Group, Alameda Research and their executives following their filing for Chapter 11 bankruptcy protection.

"Kraken has spoken with law enforcement regarding a handful of accounts owned by the bankrupt FTX Group, Alameda Research and their executives," the U.S.-based crypto exchange tweeted today, adding: "Those accounts have been frozen to protect their creditors."

Kraken added that its other clients' funds are not affected and that it "maintains full reserves."

Kraken's update comes after FTX and Alameda-related companies filed for Chapter 11 bankruptcy protection on Friday. FTX had previously approached Kraken — which claimed no exposure to Alameda Research but held almost 9,000 FTT tokens — about a potential rescue deal.


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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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