Kraken's Crypto Facilities Appoints Hedge Fund Veteran as New CEO

According to The Block, Kraken has appointed hedge fund veteran Mark Jennings as CEO of Crypto Facilities, an institutional crypto asset derivatives trading firm based in the United Kingdom, which Kraken acquired in 2019 for a nine-figure price. For regulatory reasons, the two maintain separate brands and operate separate entities. Jennings, who previously worked at hedge fund services at Citi and Credit Suisse and served as COO and CFO at quantitative hedge fund manager True Arrow Capital Management, joined Kraken in January 2022 as Head of European Operations.