Funding Delays for Domestic USD Experienced by Kraken

The US-based crypto exchange, Kraken, had recently experienced delays when it came to the domestic funding of its USD. This was revealed by the company itself on its website just earlier today.

Urging Users To Seek Alternatives

Kraken’s status page shows that there are some delays in regards to the wire processor for domestic US deposits, particularly those done through Evolve Bank. Due to this, domestic US deposits are remaining within the pending or “confirming” state, and is doing so for several business days more than the typical delays in service requests.

1/ Day 13: FUNDS ARE STILL MISSING. At this point I've notified the authorities, my lawyers and my bank. Should've done this a before but wanted to give @krakenfx and @getevolved1925 opportunity to come clean and do what's right before wasting time, energy and money.

— bullshakalaka (@bullshakalaka) June 25, 2020

The Kraken exchange itself has urged its users to contact support to gain assistance, should there be any delayed transactions. Furthermore, Kraken has urged its users to look up support articles for other US domestic deposits and withdrawal alternatives, for the time being

Part Of An Ongoing Issue

The message itself was posted on the 29th of June,  at 23:24 (GMT +0). At the time of writing, however, this alert has remained unchanged, and it seems that the Exchange is still having issues with it.

The message itself was posted less than twelve hours ago, but it seems that this isn’t the first time the crypto exchange has had issues, particularly concerning the domestic US deposits. In recent days, the problem seemed to be coming up consistently, with the situation currently going on being just a part of an ongoing issue as a whole

Exchange Issues Across The Board

However, it should be noted that system issues have been somewhat of an ongoing trend, as of late, and in recent months a large number of trading providers and exchanges have felt it. These issues aren’t just excluded to the crypto space, however, as other assets, including forex, seemed to be affected by it.

One of the highest-profile figures in this trend is none other than Robinhood. Back in March, when the world started to go made from fears regarding the COVID-19 pandemic, the commission-free stock trading apps fell victim to an outage across its entire system. This outage left many clients incapable of accessing their accounts, as an incredible amount of traffic overloaded the system.

It was just earlier this month when Robinhood was forced to report another range of technical issues. This time, it kept clients from trading options, equities, and affected crypto trading, as well. Robinhood was tight-lipped about this case, but the complaints from customers were widespread across the platform, saying they couldn’t access their accounts.