LONDON – Kraken, the San Francisco-based cryptocurrency trading platform, has acquired UK crypto platform Crypto Facilities. The specific value of the deal is not known, but Yahoo Finance reported it is at least $100 million. This makes it one of the largest ever seen in the crypto industry, despite its current slowdown.
London-headquartered Crypto Facilities offers futures contracts for leading cryptos such as bitcoin and ethereum. Its data is also used to help calculate CME Group’s bitcoin reference rate. The company is regulated by the UK’s Financial Conduct Authority. Kraken CEO Jesse Powell said in a release: “We are excited to introduce eligible clients to these industry leading futures and index products.
Check It Out: Kraken buys UK Crypto Platform in Mega Deal
Meanwhile in Canada one of the biggest cryptocurrency exchanges QuadrigaCX is collapsing.
https://www.theguardian.com/technology/2019/feb/04/quadrigacx-canada-cryptocurrency-exchange-locked-gerald-cotten
In ten or twelve years people will look back at those that poured money into cryptocurrancies and laugh. Sure a few will earn a lot, but like most Ponzi schemes, most will lose their shirt.