Jesse Powell, the current CEO of crypto exchange Kraken, has called out United States financial regulators for letting “the bad guys” win to suit their agenda. In a Feb. 19 Twitter thread, Powell speculated that U.S. regulators — seemingly including the Securities and Exchange Commission (SEC) — were allowing crypto firms to operate without enforcement actions as a red herring for companies that are their true targets. According to the Kraken CEO, allowing bad actors to “suck up users, revenue and venture capital” available to firms operating in accordance with regulations could effectively destroy the industry — letting competition run …

The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities. According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets. While Kraken’s proof-of-reserve does allow verification of assets against the company’s …

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. United States Federal Reserve chairman Jerome Powell has given his verdict on the evolution of the DeFi market, claiming there is a definite need for robust regulation before the nascent market could expand to retail. Maple Finance CEO believes that separating the risk from lending saved DeFi from the market crash. He added that crypto lending has operated as intended through the crypto winter because of the transparency. Members of the Ooki DAO are …

The newly appointed CEO of crypto exchange Kraken has stated that he has no plans to register the company with the Securities and Exchange Commission (SEC) or delist any tokens that have been labeled by the SEC as securities. In a Reuters report on Thursday, incoming CEO Dave Ripley said he doesn't see a reason to register with the SEC as an exchange because it does not offer securities. "There are not any tokens out there that are securities that we're interested in listing," he said. However he did not rule out listing security tokens entirely, noting that "there could …

Jesse Powell, the co-founder and chief executive officer of cryptocurrency exchange Kraken, has reportedly stepped down after more than 11 years at the platform. According to a Wednesday report from Bloomberg, Powell will be succeeded as CEO by chief operating officer Dave Ripley, who has been with Kraken since 2016. The former CEO will stay with the crypto exchange as the chair of the board, while the company searches for a new COO over the next few months. Powell reportedly said his decision to step back was due to Kraken growing in size: “It’s just gotten to be more draining …

As Bitcoin (BTC) continues to trade sideways around $48,000, Kraken CEO Jesse Powell is not counting out a potential crash on cryptocurrency markets in the short term. A crypto winter is now “possible,” Powell said in a Dec. 14 interview with Bloomberg Technology, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based “sort of around the Bitcoin halving.” But despite a potentially looming crypto winter, Powell is confident that the market will bounce back from a bear market once investors start buying should BTC drop below $40,000: “I think a lot of people see anything under …

Ether (ETH) has been in a bearish trend since early September, and this week's Evergrande-led market crash drove the price below $2,700 on Sept.20, its lowest level in 47 days. Curiously, just three weeks ago, Ether was testing the $4,000 psychological barrier, but this changed after mounting crypto regulatory concerns and the fear of China's debt markets triggering a global sell-off intensified. This week United States Securities and Exchange Commission (SEC) Chairman Gary Gensler spoke to the Washington Post about renewed plans to regulate the crypto sector and the growing stablecoin market. Ether's negative price trend reversed on Sept. 22 …

Major United States-based cryptocurrency exchange Kraken is planning to officially expand into the European market, following in the footsteps of rival exchange Coinbase. Kraken co-founder and CEO Jesse Powell said that his firm is actively working on receiving a European license, targeting several local jurisdictions for a potential regulatory approval already this year. In a Tuesday interview with German business news agency The Handelsblatt, Powell noted that Kraken has been in talks with multiple European regulators, with countries like Malta, Luxembourg, and Ireland being the most likely jurisdictions to license the U.S. crypto exchange. The CEO reportedly stated that Kraken …

Kraken CEO Jesse Powell has revealed that the crypto exchange could go public before the end of 2022. Powell said this during an interview with Bloomberg TV, stating that the move would be a natural progression for the company in its mission to “bring crypto to the world.” According to Powell, Kraken is currently doing “prep work” toward going public in the next 12 to 18 months. However, the exchange CEO did not give a target valuation for the upcoming float. Earlier in June, Cointelegraph reported that Kraken was reconsidering earlier plans to pursue a direct listing path toward becoming …

Jesse Powell is rethinking Kraken’s plan to go public, which is set for late 2022, following the uninspiring performance of Coinbase stock since its launch on April 14. Speaking with Fortune on Friday, Powell stated that in light of the performance on Coinbase’s direct public offering, the firm is now considering an initial public offering (IPO) more “seriously now,” as the firm is looking to avoid potential issues a direct listing presents: “Not having lock-ups, having billions of dollars of insiders be able to dump their shares, you know, on day one [...] I think it has a dampening effect …

Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices. On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000. McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to …

Bitcoin (BTC) will be worth "infinity" and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken. Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000. Powell: $1 million Bitcoin in ten years "reasonable" "Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it's going to infinity," he told Bloomberg TV about future price trajectory. "This national currency's only fifty years old, it's already showing extreme signs of weakness, and pretty soon …