⚡️NEWS: The Australian Federal Court has fined Bit Trade, the operator of#KrakenAustralia, $5.1 million for regulatory breaches including failing to comply with design and distribution obligations and offering an unlicensed lending facility.

The fine comes after the Australian Securities and Investments Commission (ASIC) opened a case that found Kraken’s margin extension product harmed more than 1,100 Australians, some of whom lost millions of dollars.