I’ve heard good things about Kraken. I’d be interested to learn more about who the founders are and how reputable they seem, as well as learning more about where the funding originates.
The founder moved from CEO to Chairman earlier this year. He's always said they never have traded with customer funds, though they have offered leverage to customers, I'm not sure how that was accomplished, or what backed it.
https://techcrunch.com/2022/10/11/kraken-jesse-powell-crypto....
Margin's pretty easy to offer on crypto exchanges. Most of the ones I've seen will do a market sell as soon as your positions become illiquid. I doubt the computation involved in doing that for all accounts perfectly is tractable though.
Jesse is and has been a solid member of the BTC community for over a decade; he doesn't do as much PR as that clown Armstrong does, especially not in the SV/VC circles until recently since he's stepped down, but the guy is sharp and he knows why he got into it.
Kraken still remains after all this time and was around since the latter days of MTGOX.
And just so it's clear PoR has been something exchanges have been independently verifying since the final goxxing in 2014, but ultimately you are trusting that they won't restrict withdraws which is ALWAYS a gamble regardless of situation or circumstance hence why 'not your keys, not your coins' has become a mantra for over a decade.
Anyhow here are a few interviews:
Stance on RU: https://www.youtube.com/watch?v=K3kdKkvkCZo
Anti-woke BS: https://www.youtube.com/watch?v=_gkEsvff9k8
Stepping down as CEO: https://www.youtube.com/watch?v=1eWX4AqS3B8
On FTX and SBF scam: https://www.youtube.com/watch?v=LHdhXEJ4yTY