news 
FTX Debtors Select Kraken as Distribution Partner
Kraken has announced a significant partnership with FTX Trading Ltd. (“FTX”) and its affiliated debtors (the “FTX Debtors”) to assist in distributing recoveries to retail customers in supported jurisdictions in accordance with the U.S. bankruptcy court-approved FTX Chapter 11 Plan of Reorganization.
As part of this agreement, Kraken will enable clients to receive funds directly into their accounts when distributions start. This is a crucial step towards ensuring that affected users can access their rightful assets. To facilitate this process, individuals are encouraged to complete the necessary steps through the FTX Debtors’ Customer Portal (https://claims.ftx.com) and select “Kraken” as their preferred distribution partner.
This partnership underscores Kraken’s long-standing commitment to security, transparency, and client satisfaction. Founded over 13 years ago with a vision of building an exchange that people could trust, Kraken has consistently demonstrated its dedication to setting industry standards and providing robust client service. The company’s extensive experience in recovering lost funds, as seen in its involvement with the Mt. Gox investigation in 2014 and more recently, supporting the distribution of funds to Mt. Gox creditors in 2024, showcases its reliability and professionalism.
Kraken has also been a pioneer in promoting transparency through regular Proof of Reserves processes since January 2022. By doing so, it ensures that client account holdings are backed by in-kind, fully reserved assets. The company’s emphasis on security and accountability is reflected in its recent support for the distribution of funds to Mt. Gox creditors.
As a trusted partner, Kraken will work closely with FTX Debtors to ensure a seamless distribution process. This collaboration serves as a testament to the trust established between Kraken and FTX Debtors, which has led to this mutually beneficial agreement.
In conclusion, Kraken’s partnership with FTX Debtors highlights its commitment to supporting the cryptocurrency community by upholding high standards of security, transparency, and client service.
Source: blog.kraken.com
