After waiting patiently for the chance to experience the marketplace, Kraken NFT Beta testers will have exclusive access to explore, trade and secure NFTs from the most popular artists and projects — all while paying zero gas fees.*

If you were selected from the waitlist to beta test Kraken NFT, you will receive an email with a link to get started soon. When you log into your Kraken account, the NFT product will be available for you to explore.

How Kraken continues to lead the way in transparency and trust

Given the current discussion regarding solvency, we wanted to explain the systems we have in place to ensure that assets on our exchange are readily available to you at any time and especially during times of uncertainty.

First, it is important to note that Kraken login has no exposure to Alameda Research and we hold about 9,000 FTT tokens on the FTX exchange. We have not listed the FTT token on our spot or futures exchanges and Kraken is not affected by the recent FTX news in any material way.

Kraken’s co-founder and outgoing CEO Jesse Powell discussed the situation with Emily Chang on the Bloomberg Crypto Report.

Second, we are proud to say that Kraken lo has long taken the lead when it comes to transparency. In fact, we pioneered the use of regular asset audits in 2014 and hired a top-25 global accounting firm, Armanino LLP, to produce two Proof of Reserve audits over the past year alone. These cryptographic audits are more precise and immutable than any other form of financial statement and we are one of the first exchanges to perform them regularly. 

Proof of Reserve audits cryptographically prove that we hold the assets we say we hold on your behalf. While this process is almost impossible for traditional financial institutions to conduct, the open and transparent properties of cryptocurrencies enable us to produce these precise audits regularly.

Kraken pioneered the practice and now undergoes Proof of Reserve audits on a semi-annual basis. It has been our way of proving our commitment to protecting the balance you hold on our exchange and staking services. We believe this transparency is absolutely vital to the health of the crypto ecosystem overall and we encourage others to follow our lead. 

The audit determined Kraken securely held the eligible assets to levels sometimes in excess of 100 percent of the required balance. In other words, in most cases — we hold exactly what we tell you we hold. You can learn more about our latest Proof of Reserves audit and all of the eligible assets in our blog post here.

Want to check for yourself? If you had funds in your Kraken account during the last Proof of Reserve audit, you can verify your balance by following these steps:

1. Sign in to your Kraken account on kraken.com
2. Follow this simple 3-step process to generate a “Record ID” or “Merkle Leaf” specific to your Kraken account and this audit
3. Enter this “Record ID” on the website of our auditor, Armanino LLP

By following the process above, you’ll affirm your cryptocurrencies were held securely by Kraken at the time of the audit.

If you don’t see a Record ID or Merkle Leaf in your Kraken Login account, don’t worry. This means you did not have eligible assets on Kraken at the time of our audit. You’ll be able to verify your account balance on eligible assets after future audits, the next of which is planned for early January.

Kraken presents this year’s DCL Metaverse Music Festival

The opportunity to witness Ozzy Osbourne’s onstage shenanigans seldom knocks twice and we’re making sure you get to tick that experience off your bucket list. This year we’re excited to present Decentraland’s Metaverse Music Festival with performances from Soulja Boy on the Limewire Stage, Dillon Francis, CryptoPunk Rapper Spottie WiFi, and, of course, Ozzy himself on the Ozzfest stage. The event will run from Nov. 10 to Nov. 13.

What’s the occasion? This year we are celebrating the upcoming launch of Kraken login NFT with this immersive Web3-enabled musical experience, one designed to capture the exhilarating chaos that happens at a physical festival.

We’re also hosting a special afterparty where you can experience an Infinite NFT gallery and claim your limited-edition wearables to celebrate our upcoming NFT marketplace. The festival is free to attend — no tickets, no lines, and no need for a crypto wallet (although it’s handy to have one so you can receive daily rewards and attend exclusive events at the festival).

Conclusion:

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold any cryptoasset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.