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Crime forces the Kraken cryptocurrency exchange to close its San Francisco office

Crime forces the Kraken cryptocurrency exchange to close its San Francisco office

The office staff located in the city center suffered constant attacks on their way to and from work. 

As Richie Greenberg says, he got an e-mail from Kraken CEO Jesse Powell, dated April 6, 2022. It reports that employees have been attacked, harassed, and even robbed on their way home from work, while business partners refuse to visit the office, fearing they might become victims of crime. Therefore, it was decided to close the San Francisco office until the crime situation in the city is resolved. 

Recall that in May 2021, a similar situation occurred with the Coinbase office in the same city. However, at that time, the crypto exchange management justified the closure of its office due to the intention to switch to a remote work format. 

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Company founder Jesse Powell started working on his own exchange after experiencing a serious security incident at Mt.Gox, another cryptocurrency exchange. Two years later, Kraken entered the market. Initially, it was limited to Bitcoin, Lightcoin, and Euro trading. However, over time, the functionality and trading pairs expanded. Moreover, Kraken introduced its own bank with relevant services.  In 2021, the company launched a mobile app for online trading. 

Trading volume: ~$1 billion.

Number of trading pairs (markets): 397

Legal status: registered in the British Virgin Islands, it also has several registered subsidiaries in the United States, Australia, Canada, Great Britain, and Singapore. 

Fiat currencies: 7 (including USD, EUR, JPY)

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