Kraken stated that it is not affected by the FTX insolvency crisis despite possessing roughly 9,000 FTX Tokens (FTT).
As per its statement, Kraken has not listed any FTT assets in its futures or spot trading platforms.
Moreover, Kraken’s blog post claimed that the crypto exchange hired Armanino LLP to conduct two Proof-of-Reserve security audits since 2021 to ensure transparency, noting,
“Proof-of-Reserve audits are more precise and immutable than any other form of financial statement and we are one of the first exchanges to perform them regularly.”
Kraken also revealed that its next audit is scheduled for early January 2023.
Ever since Sam Bankman-Fried revealed that FTX is facing a liquidity crunch, several platforms have declared their lack of exposure to FTX and Alameda Research.
