Kraken, 2011 founded a cryptocurrency exchange business, said Tuesday that the company would contribute over $250,000 as part of its endeavor to achieve a blockchain upgrade for Ethereum. The firm believes that such a collaborative and cooperative effort would certainly strengthen Ethereum over the long term.
On Tuesday, Kraken disclosed to the development teams who are presently working on accelerating Ethereum’s ongoing technical upgrade effort, known as ‘Ethereum 2.0.’ During his speech to Bloomberg News. Kraken co-founder Jesse Powell stated that after his disappearance, he established Kraken as a substitute for Mt Gox.
World’s Biggest Exchange in Terms of Volume
Since then, Kraken has grown to be one of the world’s biggest exchanges in terms of volume. And then probably the fourth largest global exchange of cryptocurrency reserves. As of yesterday, according to Bituniverse, Chain.info, and Peckshield data. Kraken owns $13.9 billion of crypto assets.
The CEO of Kraken and his co-founder Jesse Powell firmly think that contributions and aid must be provided. Since it has its duty to create the future generation of cryptocurrencies by open-source inventors. Powell also highlighted their interest in working with the Ethereum Foundation. To ensure developers get financing from various stakeholders.
Kraken explained in detail in his statement that only developer teams and customers supporting the Ethereum network would get the funding.
