Kraken Holds $19B Worth Of Bitcoin And Ethereum With $3.5B Locked In ETH 2.0

Kraken exchange holds Bitcoin and Ethereum.

Kraken is one of the world’s largest and longest-standing digital asset platforms based in the US. Globally, Kraken’s client base trades more than 100 digital assets and 7 different fiat currencies, including GBP, EUR, USD, CAD, JPY, CHF, and AUD.

Kraken, now 2500+ employees, was founded in 2011 and was one of the first exchanges to offer spot trading with margin, para chain auctions, staking, regulated derivatives, and index services. Kraken is trusted by over 8 million traders and institutions around the world and offers professional, round-the-clock online chat support.

Cryptocurrency exchange Kraken passed its reserves audit conducted by the consulting firm Armanino. The platform has $19 billion worth of client bitcoin and ether is safely stored on the platform, the rest of the digital assets were not taken into account. According to the press release, The exchange also has $3.5 billion locked in Kraken’s secure on-chain staking service.

“Administered by Armanino LLP, the Proof of Reserves audit is the second of its kind conducted on our exchange since 2014, and it affirms that more than $19 billion worth of client bitcoin and ether is safely – and provably – on our platform. This includes the $3.5 billion worth of ether held in Kraken’s secure on-chain staking service, the industry’s leading ETH2 validator.”

The previous audit of Kraken’s reserves was conducted in 2014. From now Armanino will check the balance of the bitcoin exchange every year and a half. The audit is carried out in accordance with AICPA standards.

Kraken users also have the ability to reconcile their own accounts with audit results. For this, the platform introduced a special tool.