Bitstamp vs Kraken: Founders, CEOs and History
Bitstamp was founded in 2011 by Nejc Kodrič, Damijan Merlak and is led by Jean-Baptiste Graftieaux. Kraken was founded in 2011 by Jesse Powell, Thanh Luu and is led by Arjun Sethi and Dave Ripley (co-CEOs).
Company facts
Founders
Bitstamp
Nejc Kodrič
Nejc Kodrič co-founded Bitstamp with Damijan Merlak in Slovenia in August 2011 and served as CEO until October 2020.
Damijan Merlak
Damijan Merlak co-founded Bitstamp with Nejc Kodrič in Slovenia in 2011, when the pair set out to build a European bitcoin exchange funded by SEPA bank transfers.
Kraken
Jesse Powell
Jesse Powell co-founded Kraken in 2011. A massive early believer in Bitcoin, he famously visited the offices of the collapsing Mt.
Thanh Luu
Thanh Luu co-founded Kraken in 2011 alongside Jesse Powell. He played a critical role in the incredibly complex early backend engineering required to build a crypto exchange that didn't constantly get hacked, establishing the intense security culture that rema…
CEOs and their tenures
Bitstamp
- Nejc Kodrič2011–2020
Co-founder & CEO
Built Bitstamp's compliance-first identity and kept it running through the industry's first major collapses; moved to a non-executive board role in October 2020.
Source - Julian Sawyer2020–2022
CEO
Brought banking experience as a co-founder and former COO of UK digital bank Starling, and had briefly led Gemini Europe before joining.
Source - Jean-Baptiste Graftieaux2022–present
Global CEO
Bitstamp's chief compliance officer from 2014 to 2016, he has kept licensing at the center of the company's strategy inside Robinhood.
Source
Kraken
- Dave Ripley2023–present
Co-Chief Executive Officer
Professionalised Kraken's licensing and institutional business ahead of its planned IPO; co-CEO with Arjun Sethi since October 2024.
Source - Arjun Sethi2024–present
Co-Chief Executive Officer
Appointed Co-CEO alongside Dave Ripley, he manages the massive product expansion strategy as Kraken attempts to close the massive volume gap with Binance.
Source
Timeline: Bitstamp and Kraken side by side
2011Bitstamp
August: Nejc Kodrič and Damijan Merlak found Bitstamp in Slovenia as a European alternative to Mt. Gox.
2011Kraken
Jesse Powell Founds Kraken After Mt. Gox Security Inspection
Jesse Powell and Thanh Luu incorporate Payward Inc. (Kraken) in San Francisco after Powell observes catastrophic security flaws at Mt. Gox in Tokyo.
2013Bitstamp
April: Registration moves to the UK; from September, account holders must verify identity with passports and proof of address.
2013Kraken
Kraken Exchange Public Beta Launch
Following two years of rigorous security testing, Kraken publicly launches its spot cryptocurrency exchange offering Bitcoin, Litecoin, and Euro trading pairs.
2014Bitstamp
Pantera Capital's roughly $10 million investment becomes public in March; a February DDoS attack pauses withdrawals for several days as Mt. Gox collapses.
2014Kraken
Pioneered World's First Cryptographic Proof of Reserves Audit
Kraken executes the world's first mathematically verifiable cryptographic Proof of Reserves audit using Merkle trees, proving customer balances are fully backed 1:1.
2014Kraken
Selected by Mt. Gox Bankruptcy Trustee
The Tokyo District Court appoints Kraken to assist the Mt. Gox bankruptcy trustee in investigating lost Bitcoin and distributing recovered funds to creditors.
2015Bitstamp
January: Hackers steal under 19,000 BTC (about $5 million) from the hot wallet; Bitstamp reopens about a week later.
2016Bitstamp
April: Luxembourg licenses Bitstamp as a payment institution, the first crypto exchange regulated this way in the EU; headquarters move to Luxembourg.
2018Bitstamp
October: NXMH, the Belgian arm of South Korea's NXC, buys an 80% stake in an all-cash deal.
2019Bitstamp
April: New York's Department of Financial Services grants Bitstamp USA a BitLicense.
2019Kraken
Acquisition of Crypto Facilities for $100 Million
Acquires UK FCA-regulated derivatives platform Crypto Facilities for $100M, launching Kraken Futures for regulated digital asset derivatives trading.
2020Bitstamp
October: Julian Sawyer becomes CEO; Kodrič moves to a non-executive board role.
2020Kraken
Awarded First US SPDI Bank Charter in Wyoming
The Wyoming State Banking Board approves Kraken's application for a Special Purpose Depository Institution (SPDI) charter, creating Kraken Bank as America's first regulated crypto bank.
2021Kraken
Relaunch of Automated Real-Time Proof of Reserves
Rolls out an advanced semi-annual cryptographic Proof of Reserves framework allowing any individual client to mathematically verify their account balances via Merkle tree hashes.
2022Bitstamp
May 9: Jean-Baptiste Graftieaux is appointed Global CEO after Sawyer's departure.
2023Bitstamp
Ripple takes a minority stake; Bitstamp halts US trading in five tokens and ends US Ethereum staking for regulatory reasons.
2023Kraken
David Ripley Appointed Chief Executive Officer
David Ripley succeeds founder Jesse Powell as CEO, steering corporate preparation for an eventual initial public offering while Powell transitions to Chairman.
2023Kraken
SEC Staking Settlement
Kraken agreed in February 2023 to pay $30 million and end its US staking service to settle SEC charges.
2024Bitstamp
June: Robinhood agrees to buy Bitstamp for about $200 million in cash.
2024Kraken
Unveiling of Ink: Ethereum Layer-2 Optimism Superchain Network
Announces Ink, a dedicated Layer-2 blockchain built on Optimism's OP Stack to bridge traditional finance with decentralized finance (DeFi) protocols.
2025Bitstamp
May: Luxembourg's CSSF grants a MiCA license. June 2: Robinhood closes the acquisition.
2025Kraken
NinjaTrader Acquisition for $1.5 Billion
Payward bought US futures broker NinjaTrader for $1.5 billion, its largest deal, adding CFTC-regulated futures and a large active-trader base.
2026Bitstamp
April: Perpetual futures launch for eligible EU customers. September 29: Robinhood says US crypto perpetuals will run through Robinhood Derivatives and Bitstamp.
2026Kraken
Nasdaq Invests $100 Million at $21 Billion Valuation
In September 2026 Nasdaq Ventures agreed to invest $100 million in Payward, reportedly at a $21 billion valuation, with plans to launch tokenized equities together in 2027.
Acquisitions
Bitstamp
No verified acquisitions are listed.
Kraken
- Bitnomial2026$550M
- NinjaTrader2025$1.5B
- Staked2021Undisclosed
- Crypto Facilities (Kraken Futures)2019$100M
- Coinsetter & Cavirtex2016Undisclosed
Questions about Bitstamp vs Kraken
Who is the CEO of Bitstamp and Kraken?
Bitstamp is led by Jean-Baptiste Graftieaux and Kraken is led by Arjun Sethi and Dave Ripley (co-CEOs). Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bitstamp founded vs Kraken?
Both Bitstamp and Kraken were founded in 2011, making them the same age.
How many employees does Bitstamp have compared to Kraken?
Bitstamp employs approximately 650 people, while Kraken employs approximately 2,600. Kraken has the larger workforce at 2,600 employees, compared to Bitstamp's 650. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bitstamp and Kraken headquartered?
Bitstamp is headquartered in Luxembourg and Kraken is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Bitstamp and Kraken?
Bitstamp was founded by Nejc Kodrič, Damijan Merlak. Kraken was founded by Jesse Powell, Thanh Luu.
Which company has a longer operating history — Bitstamp or Kraken?
Bitstamp has been operating for approximately 15 years, making it the more established of the two companies. Kraken has been in operation for around 15 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bitstamp vs Kraken overview