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Digital currency exchange Kraken acquires Crypto Staking Firm Staked – – Crypto News

Digital asset company Kraken announced that it has acquired the staking platform Staked without custody for an undisclosed amount. While the amount of the purchase was not disclosed, the company claims it was “one of the crypto industry’s largest acquisitions to date”.

Kraken acquires staking company with no custodian

December 21st octopus announced that it has acquired the staking company Marked out, a company that specializes in giving people access to proof-of-stake (PoS) networks. “Staked helps investors generate income from staking and defi without taking their crypto assets into custody,” explains the company’s website. Kraken is one of the largest crypto exchanges in the world in terms of trading volume and digital asset reserves.

In terms of global crypto asset reserves data from Bituniverse, Peckshield, and Etherscan, metrics show that Kraken is the fourth largest exchange in terms of reserves held today. Kraken holds $ 15.81 billion in digital assets, according to the data, and those reserves make more than 102,000. out Bitcoin (BTC) and 2.27 million in Ethereum (ETH) on December 22nd. The takeover announcement states that Kraken would like to play an important role in providing staking services to consumers and institutions.

“We are excited to add Staked to our portfolio of high yield products, which is enjoying strong acceptance by a growing number of crypto investors,” said Jesse Powell, Kraken CEO and co-founder, commenting on the announcement. “Staked is a great addition to our existing staking business and will allow us to further strengthen our product offering by providing world-class infrastructure for customers who prefer to keep their staked assets,” added Powell.

Data from Staked’s Proof-of-Stake (PoS) report for the third quarter of 2021.

Staked explains in his Third quarter report 2021 that “Q3 was an absolute banner quarter for PoS crypto assets.” The report goes on to explain that in the third quarter there were four PoS assets in the top ten and 28 PoS crypto assets in the top 100 coins by market capitalization. “The market capitalization of the top 35 PoS assets represented 30% of the total crypto market capitalization at the time [September 30]“Staked wrote at the time. “Initial accounting of PoS assets [more than] 25% of total crypto market cap, ”the report adds.

The acquisition of Staked marks the fifth acquisition of Kraken in 2021, according to Tuesday’s announcement. Kraken also noted that the company’s spot, margin and futures trading volume has increased 430% this year. “Kraken’s acquisition of Saked is an exciting new chapter for us,” said Tim Ogilvie, CEO of Saked, in a statement. Kraken isn’t the only crypto firm making acquisitions like Coinbase shoveled up Numerous startups also in 2021.

What do you think of Kraken taking on Staked for an undisclosed amount? Let us know what you think on this matter in the comments below.

Digital currency exchange Kraken acquires Crypto Staking Firm Staked – – Crypto News, Crypto Trading News

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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