[Kraken Parent Company Sues Derivatives Platform PowerTrade, Accusing It of 'Misappropriating' $7.2 Million in Funds] According to CoinDesk, Kraken's parent company Payward has filed a motion in U.S. federal court to investigate cryptocurrency derivatives platform PowerTrade and its co-founders, accusing them of 'misappropriating' approximately $7.2 million in digital assets and unrealized profits. The lawsuit alleges that PowerTrade unilaterally conducted around 100 'correction' transactions to retroactively cancel profitable positions that had expired or settled months earlier, changing Payward's account balance on PowerTrade from over $6 million in positive balance to nearly $2 million in negative balance, and attempting to seize its Bitcoin collateral as a result. Payward has obtained a global asset freezing order from the Dubai International Financial Centre Court and has initiated further legal proceedings in multiple jurisdictions.