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