#Kraken Waives Trading Fees for FTX Creditors#
Hot Topic Overview
Overview
Kraken announced a crypto trading fee waiver for new customers receiving funds from FTX, up to $50,000. This comes after Kraken was selected as one of the partners to distribute funds to former FTX customers. As the distributed funds will be paid in USD, Kraken wants to minimize the cost for users to reinvest this money into crypto. Therefore, new Kraken users receiving funds from FTX will receive a fee waiver, allowing them to buy up to $50,000 worth of crypto on Kraken Pro without paying any trading fees. The amount of the waiver will be based on the amount of funds received and will be credited to the customer's account upon receipt of the FTX distribution.
Ace Hot Topic Analysis
Analysis
Kraken announced a crypto trading fee waiver of up to $50,000 for new customers receiving funds from FTX. This is part of Kraken's efforts as one of the partners distributing funds to FTX creditors, aiming to help users reinvest their received USD funds into crypto. Specifically, new users who choose Kraken to receive funds from FTX will receive a certain amount of Kraken Fee Credit (KFEE), enabling them to purchase up to $50,000 worth of crypto on Kraken Pro without any trading fees. The credit amount will be determined based on the user's received FTX distribution amount and will be credited to their account upon receiving the distribution. This initiative aims to reduce the cost for FTX creditors to reinvest their funds in crypto and attract more users to the Kraken platform.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Kraken offers trading fee waivers to FTX creditors to encourage them to reinvest their allocated funds into the cryptocurrency market.
Kraken hopes to attract more users by waiving trading fees, reducing the cost for FTX creditors to reinvest their funds in crypto.
Kraken's move aims to attract former FTX customers and bring them on as new users of the platform.
Kraken's trading fee waiver policy will be adjusted based on the amount of funds received and credited to customer accounts in the form of KFEE.