Kraken vs. the Bankrupt Trust it Says Stole its Money
In this latest episode of Bank Nerd Corner, Kiah welcomes Justin Steffen, a partner at Barack Ferrazzano, for a deep dive into Payward Interactive v. Etana Custody — better known as Kraken versus the bankrupt trust company that allegedly lost its money.
The conversation goes well beyond crypto drama and has implications for the broader financial space.
There are reconciliation and comingling concerns. There is an alarming bankruptcy claim about customer funds. There’s a lesson about the importance of vendor management and what Steffen calls “the Steffen Principle:” bad things plus money…
The skinny
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