Kraken CEO Jesse Powell Issues Tough Critique of ‘Reckless’ DeFi Launches
"Stop f**king up your bulls**t DeFi scams and expecting exchanges to bail you out," Powell said.
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Per a report from Fortune magazine, founder and Kraken CEO Jesse Powell is stepping down from his position. Powell will be replaced as Kraken CEO by the company’s current Chief Operating Officer Dave Ripley. Related Reading: How This Ripple Partnership Will Expand The Use Of XRP For Treasury Payments Ripley will take over as long […]
Even though Kraken is based in the US and facilitates exchanges between a number of different cryptocurrencies, its customer base is decidedly euro-driven. In fact, according to BitcoinAverage, Kraken has over 50% of the EUR/BTC market. That makes it the largest player in that trading pair. Due to regulatory issues in the US (which has 50 different states with 50 different ideas about money transmission), Kraken leans on its European banking partnership with Germany-based Fidor. Even with that geographic bent, being San Francisco-based has had benefits for Kraken, and, in March, the....
Photo by _Mo. Ripple Labs co-founder Jed McCaleb's recent decision to sell his entire stock of XRP was the start of a difficult week for the open-source payments processor. After McCaleb made his announcement, Ripple's price took a steep fall. Investor confidence declined further when Jesse Powell, known by most as CEO of Kraken, resigned from the board of Ripple Labs and levied some disturbing remarks about the company's management. Feeling betrayed, Ripple had their lawyers draft and send Jesse Powell a cease and desist letter. Powell posted that letter online for the Ripple community to....
Kraken, a reputable Bitcoin exchange launched trading in Japan at the end of October. With the collapse of Mt. Gox, setting up a reputable and publicly trusted exchange in Japan is no easy task. Kraken has a great record of high transaction volumes as well as reputation for compliance with the law. Even though Kraken boasts credentials, months of work went into launching a regulated and publicly accepted Bitcoin exchange in Japan. Kraken is the only Japan Bitcoin exchange that allows local funding options. I got a chance to interviewKraken CEO Jesse Powell about the Japanese launch and....
Jesse Powell, chief executive officer of the world’s fourth-largest crypto exchange Kraken, has criticized decentralized finance (defi) projects, accusing them of being “scams” that enter the market too quickly, unprepared. In a charged Oct. 26 tweet, Powell said the “scams” should not expect crypto exchanges to bail them out once things go wrong. Preferring to let the defi projects fail in order that they get “enlightened”, he thundered: I will not accept your attempt at externalizing the cost of your hasty, reckless rollout. Invest in audits,....