Kraken to Liquidate Delisted Tokens Amid Thin Market Conditions

Kraken is set to begin automatically liquidating seven delisted tokens on August 3 after closing withdrawals for affected clients. The assets in question are PLANCK, AIR, MICHI, FLY, ANLOG, TERM, and STRD, which were disabled from trading and deposits back in May as part of a staged wind-down process. According to Kraken's published schedule, the liquidation window will run through August 7.

The warning from Kraken is that several of these assets have limited or inactive markets, which could result in steep discounts or minimal proceeds for affected clients. Thin or inactive markets could leave clients with insufficient liquidity, leading to zero proceeds in some cases.

Withdrawals were closed on July 31, leaving residual balances to be sold during the five-day window. The sale venue, order, fees, and settlement currency remain undisclosed by Kraken. Clients can no longer move these affected assets off Kraken due to the withdrawal cutoff.