Cryptocurrency exchange of Kraken founder Jesse Powell has recently been very uncomfortable with the pressure exerted by government agencies on the industry in the US.
In his latest post on his Twitter account, Powell went beyond criticism and claimed that the American government deliberately showed bad faith.
I have a theory:
Regulators let the bad guys get big and blow up because it serves their agenda.1. destroy capital/resources in crypto ecosystem
2. burn people, deter adoption
3. give air cover to attack good actorsThe bad guys are actually on-side. Good guys are the enemy. https://t.co/DZI2O8gVyO
— Jesse Powell (@jespow) February 19, 2023
The Kraken founder created a theory for the moves made by the US government. According to Powell, even lawmakers are willingly regulating crypto to take advantage of bad guys. Crypto The phenomenon explained the reason for this discourse with 3 main articles:
- Destroying capital in the crypto ecosystem
- Stopping crypto adoption by victimizing people
- Setting the groundwork for sanctioning good projects
Kraken founder Jesse Powell and Custodia Bank executive Caitlin Long stated in an earlier interview that they warned authorities about crypto scams. However, according to two names, the government ignored this issue.
Cardano Founder Hoskinson Confirms Theory!
Cardano (ADA) founder Charles Hoskinson endorsed this scenario by retweeting the Kraken founder’s theory.
Honestly, it’s starting to feel like this is accurate. Fair notice was given for many of the firms that exploded months or sometimes years prior to the events. https://t.co/pPrDoEXLIw
— Charles Hoskinson (@IOHK_Charles) February 20, 2023
“To be honest, I’ve come to believe this theory. There were warnings about a lot of companies going bankrupt months ago.”
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