Kraken Under Fire: Jesse Powell's Response To SEC Accusations


21 Nov 2023 7:00 PM

Jesse Powell, Kraken former CEO and founder, has criticized the United States Securities and Exchange Commission (SEC) for the recent lawsuit....

  • The US Securities and Exchange Commission (SEC) has filed a second lawsuit against crypto exchange Kraken.
  • Jesse Powell, Kraken's former CEO, criticizes the SEC's repeated actions and sees regulatory struggles.
  • Kraken settled a previous legal dispute with the SEC, agreeing to pay a $30 million fine and shut down their crypto staking services.
  • Kraken defends its operations, stating that the allegations involve a technical argument about whether its digital assets are "investment contracts."
  • The company argues that the law supports its stance and refutes allegations of commingling funds.
  • Kraken emphasizes its commitment to crypto innovation in the United States and reassures clients that its services will continue without interruption.
  • The legal proceedings could have a long-lasting impact on Kraken's finances.

The sentiment of the article is negative towards the SEC's repeated actions and the potential impact on Kraken's finances.

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You May Ask

What is the SEC's second lawsuit against Kraken about?Who criticized the SEC's actions and what did they say?How did Kraken settle a previous legal dispute with the SEC?What are the allegations against Kraken and how does the company defend itself?What could be the long-lasting impact of the legal proceedings on Kraken's finances?

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