Kraken says all systems operational after issue with Ethereum funding gateway

July 31, 2023

By Rishabh Jaiswal and Nilutpal Timsina

(Reuters) – Cryptocurrency exchange Kraken said on Sunday that issues with cryptocurrency Ethereum‘s funding gateway have been resolved.

“All systems operational,” Kraken said on its status page, without giving details on what caused the issue.

Kraken had said early on Sunday that it was investigating an issue with the Ethereum funding gateway and that it could cause a delay in deposits and withdrawals.

Ethereum is the world’s second-largest cryptocurrency.

Kraken says all systems operational after issue with Ethereum funding gateway — Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Kraken is a United States–based cryptocurrency exchange, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and is reportedly valued at US$10.8 billion, as of mid-2022. The company has been the subject of several regulatory investigations since 2018, and has agreed to cumulative fines of over $30 million to resolve the disputes.

The company was co-founded in 2011 by Jesse Powell, an alumnus of California State University, Sacramento with Thanh Luu and Michael Gronager.