Kraken has blocked FTX accounts

Kraken has blocked FTX accounts

Cryptocurrency trading platform Kraken, following stablecoin issuer Tether, has frozen accounts owned by the FTX Group, Alameda Research and their executives.

The exchange blocked accounts immediately after FTX and affiliates filed for bankruptcy:

“Kraken has negotiated with law enforcement about several accounts held by the FTX Group, Alameda Research and their executives. By mutual decision, the accounts were frozen to protect creditors.”

Kraken added that other users' cryptocurrencies were not affected and that the exchange is "maintaining full reserves" for market emergencies.

FTX has previously reached out to Kraken for support. Although Kraken has stated that the exchange is not affiliated with Alameda Research, its wallets hold about 9,000 FTT of its own FTX tokens.

Recently, Tether, the company behind the USDT stablecoin, froze $43.3 million worth of tokens owned by the crisis-ridden cryptocurrency exchange FTX due to a law enforcement request.

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