The founder of cryptocurrency exchange Kraken said after the Binance case that exchanges like Kraken set a “good example” for the industry.
Jesse Powell, one of the founders of Kraken, made a statement on social media, referring to the Binance case. made.
“Two questions that stakeholders (in the industry) have been asking over the past 12 months have been answered: 1. How are they progressing so fast? 2. How do they get away with it?” Powell said, “It is difficult to maintain hope when your market share shrinks and sanctions are imposed only on the good ones.” said.
Powell stated that the cryptocurrency industry is still at risk, saying, “Each questionably run business provides an opportunity for states to scapegoat crypto and make the situation even more difficult.” he said and “We need to police ourselves.” he emphasized.
US Securities and Exchange Commission (SEC) for not registering the staking-as-a-service program it offers through cryptocurrencies in february He blamed the companies to which Kraken was affiliated. Companies, 30 million dollars In return, he made a compromise.
The SEC sued Kraken earlier this week for allegedly violating securities laws. filed a lawsuit. Powell said the day after the lawsuit was filed:
“The message here is clear: $30 million buys you 10 months before the SEC comes to extort you again. Lawyers can do a lot of work with $30 million, but the SEC knows that a real fight would probably cost more than $100 million. If you can’t afford that, get your crypto company out of the battlefield in the US.”