Kraken’s 2022 yr in overview

2022 year in review blog image

There’s by no means been a uninteresting second in crypto, and this yr was no exception.

In 2022, Kraken celebrated 11 years of our mission to speed up the adoption of cryptocurrency so that you just and the remainder of the world can obtain monetary freedom and inclusion. It’s been fairly a experience.

Our singular give attention to this mission has allowed us to face the check of time and endure greater than a decade of highs, lows, frenzies, and FUD whereas establishing ourselves as a pacesetter within the crypto business.

2022 was stuffed with highlights and challenges. We’re thrilled to look again on the yr that was as we put together to serve and safe our shoppers within the yr forward.

NFT

Non-fungible tokens (NFTs) dominated the dialog this yr, with a numerous variety of individuals coming into the crypto ecosystem thanks to those distinctive digital gadgets. All the time on the lookout for new methods of empowering our shoppers to attach and transact, we introduced the waitlist to develop into a beta tester for the Kraken NFT market earlier this yr and have been thrilled to see the response from our neighborhood.

After saying 70 NFT Collections for Kraken NFT Beta Testers to discover, gather and commerce, we opened Kraken NFT for a choose group of beta testers from our waitlist in November. Among the hottest NFT collections, together with Bored Ape Yacht Membership, CryptoPunks, Cool Cats, Doodles, World of Ladies and plenty of extra, can be found on Kraken NFT right this moment.

After months of testing and refinement, we opened Kraken NFT to all. Now, it’s your likelihood to discover, gather and commerce with zero gasoline charges* on Kraken NFT — the NFT market constructed from the bottom as much as be safe, simple to make use of and dynamic.

We’re persevering with so as to add new collections to Kraken NFT every week and encourage everybody to observe the Kraken NFT weblog for our newest updates, in addition to our newly launched @KrakenNFT Twitter account, to be the primary to know when new collections can be found.

Kraken Professional

For superior crypto merchants seeking to acquire a aggressive edge, we launched our new and improved Professional buying and selling interface. Constructed with skilled merchants and alpha seekers in thoughts, the brand new Kraken Professional internet buying and selling interface combines spot, margin buying and selling, staking, and portfolio administration all in a seamless, trendy UI. It additionally boasts a extremely customizable and scalable entrance finish, so you’ve got full management to regulate, rearrange, resize, stack, nest in tabs and develop in pop-outs — so you can also make essentially the most environment friendly buying and selling interface that matches your wants.

Lightning Community

Kraken has at all times been identified for constructing world class merchandise and delivering essentially the most ahead trying instruments that empower monetary freedom and inclusion. We actually upheld that popularity this yr.

Earlier in 2022, we introduced that we now assist on the spot Lightning Community BTC transactions. The Lightning Community permits individuals all around the world to rapidly and cost-effectively transact utilizing bitcoin. Kraken Intelligence, our in-house crew of crypto analysts, mentioned how Lightning Community is supporting Bitcoin’s evolution from a retailer of worth to a medium of change of their report, The Lightning Community: Bitcoin’s Evolution to Medium of Alternate.

If you’re new to the advantages of the Lightning Community and want to learn how it really works, you may try our Be taught Middle’s information to What’s the Lightning Community?

To get began utilizing the Lightning Community, you too can try our Help Middle guides for Connecting to Kraken’s Lightning node and our information on How do I ship bitcoin on the Lightning Community?

Staking

Although Kraken has at all times — and can proceed — to advocate for self custody of crypto belongings and encourage our shoppers to preserve their crypto protected themselves, 2022 was an enormous yr for crypto staking at Kraken. We even added staking to our Professional cell app so you may stake on-the-go and earn rewards in your crypto from anyplace.

Over the previous yr, we’ve enabled our shoppers to stake a number of new cash utilizing Kraken, together with:

With Kraken, you may stake dozens of cryptoassets and earn a few of the most dependable reward charges within the business by way of our streamlined staking companies.

ETH Merge

With so many business defining moments occurring over the previous yr, it’s simple to neglect that one of the crucial hotly anticipated occasions within the historical past of crypto happened just some months in the past!

The Ethereum Merge was an enormous success, because the world’s second largest cryptocurrency accomplished the ultimate part of its transition from a proof-of-work to proof-of-stake blockchain. The occasion happened at block top 15,537,393 on September 15, 2022.

Kraken was one of many first exchanges to re-open buying and selling of ETH after the transition. We have been additionally one of many first exchanges to checklist and distribute the newly created EthereumPoW (ETHW) token that adopted.

Need to be taught extra concerning the Ethereum Merge and what it means for the way forward for one of many world’s largest blockchain protocols? You may get began with the Kraken Be taught Middle’s article What’s The Ethereum Merge?

After that, you may take a good deeper dive into the Ethereum Merge with Kraken Intelligence’s report Ethereum 2.0: Does ETH develop into deflationary post-Merge? or take a extra nuanced look into the assorted professionals, cons and tradeoffs of each proof-of-work and proof-of-stake with their report PoW vs. PoS: Securing the Chain.

Token listings

2022 was a robust yr for token listings at Kraken. Merely put, we listed extra tokens than we now have ever listed in a single yr.

Within the course of, we greater than doubled the quantity of cryptocurrencies you should purchase, commerce, and promote on Kraken in comparison with final yr.

We now provide greater than 200 cryptocurrencies on Kraken and proceed so as to add essentially the most revolutionary tasks shaping the crypto business.

However don’t simply take our phrase for it. Take a look at every of the bulletins marking the launch of greater than 130 tokens we listed over the previous yr:

Bear markets are for constructing

Undeterred by the headwinds, we saved constructing it doesn’t matter what the market threw at us. Our over-the-counter (OTC) desk introduced a brand new AutoRFQ and OTC portal for immediate block buying and selling, permitting shoppers to independently request and settle for automated block commerce quotes by way of the Kraken OTC desk.

All the time seeking to assist our institutional shoppers, we made it simpler than ever to get began due to a number of new pages tailor-made to funding funds, company treasuries, crypto miners, buying and selling companies and wealth managers we serve.

We additionally added native assist for a number of blockchain protocols. We have been thrilled to assist deposits and withdrawals of USDC by way of the Solana and Tron networks, in addition to MATIC deposits and withdrawals on the Polygon Community.

Bear markets aren’t only for constructing, they’re additionally for accumulating. That’s the reason we added recurring purchase performance, so you may persistently construct your crypto portfolio mechanically. Often known as greenback value averaging, recurring buys refers to a easy, beginner-friendly funding technique whereby an individual makes small, usually scheduled investments in a selected asset over a time period, as a substitute of investing the whole sum directly.

No mission however The Mission

Kraken has constructed a popularity for not simply main the crypto business, however supporting others making an impression throughout the business as nicely.

This yr, we continued our dedication to sustaining the Bitcoin Rust repository by funding developer Tobin Harding (tcharding),who will now be absolutely devoted to coordinating Bitcoin Rust code overview, encouraging and sponsoring new contributors, facilitating very important contributor conferences, and enhancing the infrastructure powering the worldwide Bitcoin community. The information adopted Kraken’s September 2021 announcement of a Bitcoin Rust improvement fund, began in reminiscence of our late colleague and early Bitcoin Rust contributor Tamás Blummer.

Extra just lately this yr, we additionally donated $100,000 to Anti-Human Trafficking Intelligence Initiative, a U.S.-based nonprofit that harnesses intelligence to assist monetary establishments, expertise companies and cryptocurrency exchanges fight human trafficking and youngster exploitation.

Sadly, considered one of our largest highlights of the previous yr got here within the wake of one of the crucial unthinkable tragedies, the invasion of Ukraine. Our response? Kraken Distributed Over $10 Million in Support to Purchasers Impacted by Ukraine Disaster.

Kraken shoppers who created an account from Ukraine previous to March 9, 2022 have been eligible to obtain $1,000 in bitcoin that might be instantly withdrawn from our change. The response was overwhelming, as we obtained an outpouring of assist from these affected:

“We’ve got a child and we left our house in Kharkov and misplaced our job[s]. This can be a important assist for us in such a tough time. I will purchase meals for us and the whole lot we want. At such moments, we perceive that the world is crammed with form individuals and assist us.”

“You helped me lots, I purchased a bulletproof vest at your expense.”

As we proceed our mission to ship monetary freedom and inclusion worldwide, these two testimonies, amongst lots of of messages in response to our assist, have been undoubtedly a few of the brightest moments of the yr.

Jesse Powell Ukraine quote image

Our shoppers in Ukraine weren’t the one ones to acknowledge the business defining requirements Kraken continues to set. We celebrated excellence in cybersecurity with a brand new accreditation as we earned our ISO 27001 certification, a worldwide cybersecurity normal that demonstrates our continued dedication to our shoppers’ info safety on our platform.

Moreover, the European Buyer Centricity Awards acknowledged Kraken’s because the winner within the Buyer Success class. We have been thrilled to see our Account Administration win out in opposition to 176 opponents with our business main NPS rating of 83 and a CSAT rating of 99.999% from their institutional and VIP shoppers, Within the course of, we as soon as once more proved our themselves greatest in school — not simply throughout all crypto exchanges, however all and monetary service firms.

As we continued to assemble our govt crew of world class professionals this yr, from Chief Monetary Officer Carrie Dolan to Chief Advertising Officer Mayur Gupta, we additionally took a second to strengthen our crypto-first tradition.

Kraken Tradition Defined laid out “The Tentaclemandments of Kraken,” strengthened The Mission and defined what it really means to embody the values of a Krakenite. The response was overwhelming and 1000’s flocked to our careers web page for the chance to hitch us on this mission.

As our co-founder and CEO Jesse Powell prepares to step as much as the Chairman position and move the helm to COO Dave Ripley, we’re grateful for Jesse’s management, in addition to his dedication to crypto values and Kraken’s mission over the past 11 years — and we’re thrilled to have Dave as our new CEO as we embark on our second decade of progress and world adoption.

It’s been an extended yr. The cryptocurrency business modifications each day however this yr it felt like a curler coaster. The perfect factor? That change brings us nearer to a future the place crypto is ubiquitous and monetary equality is paramount. And we thanks for becoming a member of us for the experience.

These supplies are for basic info functions solely and will not be funding recommendation or a advice or solicitation to purchase, promote or maintain any digital asset or to have interaction in any particular buying and selling technique. Some crypto merchandise and markets are unregulated, and also you will not be protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any improve within the worth of your cryptoassets and it’s best to search impartial recommendation in your taxation place.

NFT

Kraken Professional

Lightning Community

Staking

ETH Merge

Token listings

Bear markets are for constructing

No mission however The Mission

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