Why It Matters: Kraken is currently the second most dominant U.S based cryptocurrency exchange after Coinbase. Last year, the crypto exchange was granted a banking license by the state of Wyoming, making it the first cryptocurrency exchange to be granted a license of this nature. In a recent blog post, Kraken revealed that it is currently gearing up to launch Kraken Bank with David Kinitsky as the CEO of its new venture. Kinitsky has worked at Fidelity, Circle, and took the lead in setting up Grayscale, structuring its first and flagship product – the Grayscale Bitcoin Investment Trust, which now has over $33 billion in assets under management.