{"id":359298,"date":"2023-09-21T10:10:06","date_gmt":"2023-09-21T09:10:06","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=359298"},"modified":"2023-09-21T09:44:21","modified_gmt":"2023-09-21T08:44:21","slug":"australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/","title":{"rendered":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses"},"content":{"rendered":"<p class=\"s3\">The Australian Securities and Investments Commission (ASIC) <a href=\"https:\/\/asic.gov.au\/about-asic\/news-centre\/find-a-media-release\/2023-releases\/23-256mr-asic-sues-crypto-exchange-alleging-design-and-distribution-failures\">alleged<\/a> that Kraken Crypto Exchange's provider, Bit Trade Pty Ltd, caused Australians losses of roughly $12.95 million due to non-compliance with local laws.<\/p>\n<p class=\"s3\">Due to this, the financial regulator has filed a <span class=\"s4\">lawsuit<\/span> against Bit Trade, highlighting how its margin trading product failed to comply with the design and distribution obligations tied to it. According to the regulator, Bit Trade did not correctly identify a target market before launching the product.<\/p>\n<blockquote>\n<p class=\"s3\"><span class=\"s5\">&#8220;ASIC\u2019s case focuses on Bit Trade\u2019s failure to make a target market determination for the product before offering it to Australian customers, as required by law.&#8221;<\/span><\/p>\n<\/blockquote>\n<p class=\"s3\">While ASIC describes Bit Trade's margin trading product as a credit facility, Bit Trade calls it a &#8220;margin extension,&#8221; allowing users to receive up to five times their assets.<\/p>\n<p>Bit Trade has been offering the margin trading product since 2020, and ASIC said it informed the company about its concerns in 2022. However, the exchange continued offering the product without determining the necessary market.<\/p>\n<p>The regulator is seeking penalties, injunctions, and injunctions against the exchange.<\/p>\n<p>ASIC Deputy Chair Sarah Court said the proceedings would warn other crypto companies to ensure compliance with the country's financial regulations. Court added:<\/p>\n<blockquote>\n<p class=\"s7\"><span class=\"s6\">&#8220;ASIC\u2019s action should be a reminder of the importance to comply with the design and distribution obligations so that financial products are distributed to consumers appropriately.&#8221;<\/span><\/p>\n<\/blockquote>\n<h2 class=\"s7\"><span class=\"s8\">Kraken expresses shock and disappointment<\/span><\/h2>\n<p>Jonathon Miller, the Director of Kraken Australia, <a href=\"https:\/\/www.afr.com\/technology\/kraken-failed-to-explain-crypto-product-to-customers-asic-alleges-20230921-p5e6gk\">expressed<\/a>\u00a0disappointment at the enforcement action against the company. He pledged to seek further clarification from regulators and emphasized that their product fully complies with local laws.<\/p>\n<p>This move by ASIC to crack down on Bit Trade aligns with a broader trend of regulatory oversight within the cryptocurrency industry. In July, ASIC <a href=\"https:\/\/cryptoslate.com\/asic-cancels-ftx-australias-license-amid-escalating-crypto-regulation\/\">revoked<\/a> the license of FTX Australia as part of its efforts to establish <a href=\"https:\/\/cryptoslate.com\/australian-finance-minister-says-crypto-could-be-regulated-as-financial-product\/\">comprehensive regulatory f<\/a>rameworks.<\/p>\n<p>Furthermore, traditional financial institutions like Westpac and National Australia Bank (NAB) have been taking measures to <a href=\"https:\/\/cryptoslate.com\/australias-oldest-bank-bans-payments-to-binance\/\">limit payments<\/a> to cryptocurrency exchanges. This aligns with their strategy to mitigate customer exposure to potential scams and risks associated with the crypto market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Securities and Investments Commission (ASIC) alleged that Kraken Crypto Exchange&#8217;s provider, Bit Trade Pty Ltd, caused Australians losses of roughly $12.95 million due to non-compliance with local laws. Due to this, the financial regulator has filed a lawsuit against Bit Trade, highlighting how its margin trading product failed to comply with the design [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":359340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[75201],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Australian regulator sues Kraken provider Bit Trade for $13M in user losses<\/title>\n<meta name=\"description\" content=\"Australia&#039;s top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange&#039;s provider, Bit Trade Pty Ltd.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian regulator sues Kraken provider Bit Trade for $13M in user losses\" \/>\n<meta property=\"og:description\" content=\"Australia&#039;s top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange&#039;s provider, Bit Trade Pty Ltd.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-21T09:10:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-21T08:44:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/09\/australia-legal.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"worksFor\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"sameAs\":[\"https:\/\/x.com\/hardeyjumoh\",\"https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo\",\"https:\/\/muckrack.com\/oluwapelumi-adejumo\"]},\"headline\":\"Australian regulator sues Kraken provider Bit Trade for $13M in user losses\",\"datePublished\":\"2023-09-21T09:10:06+00:00\",\"dateModified\":\"2023-09-21T09:10:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\"},\"wordCount\":363,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"keywords\":[\"Kraken\"],\"articleSection\":[\"Exchanges\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\",\"url\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\",\"name\":\"Australian regulator sues Kraken provider Bit Trade for $13M in user losses\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2023-09-21T09:10:06+00:00\",\"dateModified\":\"2023-09-21T09:10:06+00:00\",\"description\":\"Australia's top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange's provider, Bit Trade Pty Ltd.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Australian regulator sues Kraken provider Bit Trade for $13M in user losses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"NewsMediaOrganization\",\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.crunchbase.com\/organization\/cryptoslate\",\"https:\/\/iq.wiki\/wiki\/cryptoslate\",\"https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ\",\"https:\/\/muckrack.com\/media-outlet\/cryptoslate\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/contact\/?topic=advertising#contact-form\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6\",\"name\":\"Oluwapelumi Adejumo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-150x150.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"jobTitle\":\"Reporter\",\"worksFor\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses","description":"Australia's top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange's provider, Bit Trade Pty Ltd.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/","og_locale":"en_US","og_type":"article","og_title":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses","og_description":"Australia's top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange's provider, Bit Trade Pty Ltd.","og_url":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/","og_site_name":"CryptoSlate","article_published_time":"2023-09-21T09:10:06+00:00","article_modified_time":"2023-09-21T08:44:21+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/09\/australia-legal.jpg","type":"image\/jpeg"}],"author":"Oluwapelumi Adejumo","twitter_card":"summary_large_image","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Oluwapelumi Adejumo","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/"},"author":{"@type":"Person","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person","name":"Oluwapelumi Adejumo","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"},"image":{"@type":"ImageObject","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg","caption":"Oluwapelumi Adejumo"},"jobTitle":"Senior Reporter","description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","worksFor":{"@id":"https:\/\/cryptoslate.com\/#organization"},"sameAs":["https:\/\/x.com\/hardeyjumoh","https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo","https:\/\/muckrack.com\/oluwapelumi-adejumo"]},"headline":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses","datePublished":"2023-09-21T09:10:06+00:00","dateModified":"2023-09-21T09:10:06+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/"},"wordCount":363,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"keywords":["Kraken"],"articleSection":["Exchanges"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/","url":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/","name":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2023-09-21T09:10:06+00:00","dateModified":"2023-09-21T09:10:06+00:00","description":"Australia's top financial regulator ASIC has filed a lawsuit against Kraken Crypto Exchange's provider, Bit Trade Pty Ltd.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/australian-regulator-sues-krakens-provider-bit-trade-for-13m-in-user-losses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"Australian regulator sues Kraken provider Bit Trade for $13M in user losses"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":"NewsMediaOrganization","@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/t.me\/cryptoslatenews","https:\/\/www.crunchbase.com\/organization\/cryptoslate","https:\/\/iq.wiki\/wiki\/cryptoslate","https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ","https:\/\/muckrack.com\/media-outlet\/cryptoslate","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","correctionsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/contact\/?topic=advertising#contact-form","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6","name":"Oluwapelumi Adejumo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-150x150.jpg","caption":"Oluwapelumi Adejumo"},"description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","jobTitle":"Reporter","worksFor":"CryptoSlate","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/359298"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/720"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=359298"}],"version-history":[{"count":8,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/359298\/revisions"}],"predecessor-version":[{"id":359351,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/359298\/revisions\/359351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/359340"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=359298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=359298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=359298"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=359298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}