Kraken CEO accuses regulators of ignoring warnings about fraud to favor big players
According to reports, Jesse Powell, the founder and CEO of Kraken, tweeted that the regulators ignored their warnings about fraud and fraud and deliberately co…
According to reports, Jesse Powell, the founder and CEO of Kraken, tweeted that the regulators ignored their warnings about fraud and fraud and deliberately connived at the perpetrators until they were too big to destroy. Their plan was: 1. Destroy the capital/resources in the encryption ecosystem; 2. Let users become victims and prevent adoption; 3. False protection is actually attacking good people.
Kraken founder: regulators ignore fraud warnings and deliberately condone wrongdoers until they are too big to be destroyed
Interpretation of the news:
Jesse Powell, the founder and CEO of Kraken, a leading cryptocurrency exchange, has accused regulators of turning a blind eye to fraud and manipulation in the digital asset market. According to Powell’s recent tweet, regulators were intentionally ignoring warning signs from honest players like Kraken, while at the same time allowing manipulators to grow their influence and prey upon unsuspecting users.
Powell’s remarks come at a time when several high-profile cases of fraud have been reported in the cryptocurrency space. Recently, a number of scams involving phishing attacks on users of decentralized finance protocols have resulted in millions of dollars in losses. Meanwhile, regulatory authorities in the United States and other regions have cracked down on several projects for fraudulent activities.
Powell’s allegations carry weight as he is a respected figure in the cryptocurrency space with deep knowledge and experience of the market. He claims that regulators were trying to destroy the capital and resources of the cryptocurrency ecosystem, and prevent adoption by turning users into victims. He further alleges that regulators were giving false protection that was actually harming the market and attacking genuine players.
Kraken was one of the first exchanges to embrace self-regulation and compliance with relevant laws and regulations. Powell has been a key advocate of transparency, fairness and security in the cryptocurrency space. The company has also been vocal in calling out fraudulent activities, and even offers a reward for anyone who provides information leading to the identification and arrest of hackers targeting Kraken users’ accounts.
Powell’s accusations might prompt a deeper investigation into how regulators handle fraud and manipulation in the cryptocurrency space. It remains to be seen whether Powell’s accusations are founded on concrete evidence, or whether they reflect a lingering frustration about the lack of action from authorities. In any case, Powell’s remarks highlight the need for better governance, transparency and accountability in the cryptocurrency space, and the importance of protecting users from fraud and manipulation.
In conclusion, Jesse Powell’s allegations that regulators ignored warnings about fraud in order to protect the interests of the big players is a serious charge. It highlights the need for more effective governance and regulation of the cryptocurrency market, particularly in areas such as fraud prevention and the protection of user interests. Kraken’s reputation as a compliant and responsible player in the market lends credibility to Powell’s claims, and could spark a wider discussion about how the industry can be better governed and regulated.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/1925/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
OpenAI Releases Larger Language Model GPT-4 with Improved Performance
It is reported that Open-AI has just released the latest version of the large language model – GPT-4, which is “larger” than the previous version, which means that it has been trained on more data and has more weight in the model file, which makes its running cost higher. OpenAI said that the new model will produce fewer wrong answers, deviate less from the conversation track, talk less about taboo topics, and even perform better than humans in many standardized tests. For example, GPT-4 ranks in the top 10% of candidates in the mock lawyer exam, the top 7% in the SAT reading exam, and the top 11% in the SAT math exam. (CNBC) OpenAI: GPT-4 performs better than humans in many standardized tests Analysis based on this information:OpenAI has released GPT-4, the latest version of its large language model with more data training and weight in the model file, leading to higher operational costs. The improved model is expected…
-
India and US Finance Ministers Discuss Debt Vulnerability, Cryptocurrency, and Global Health Issues
It is reported that according to the information disclosed by the Ministry of Finance of India, the Indian Finance Minister and the US Finance Minister Yellen …
-
#Damus Launches v1.4.0: A Revolutionary Update To The Nostr-Based Open Social App
According to reports, Damus, an open social app based on the Nostr protocol, tweeted that v1.4.0 had been launched in the Apple App Store. This version upgrade includes support for
-
BTC Supply Hits Record High of 51%
It is reported that according to the data of Glssnode, the percentage of supply of BTC that has been active for more than two years has just reached a record h…
-
**The Panic and Greed Index: Understanding the State of the Market**
According to reports, today\’s panic and greed index is 50 (yesterday\’s 52), and the rating is still neutral.
Today, the panic and greed index is 50, and the level is still neutral -
GAIMIN’s GAIMCRAFT API offers a seamless transition from Web2 to Web3 for game developers
According to reports, decentralized gaming company GAIMIN announced the release of the GAIMCRAFT API to convert Web2 applications to Web3. With GAIMCRAFT API technology, game developers are now able to convert their existing Web2 games into Web3 games, integrate blockchain technology, including NFT assets into their games, and create a cryptocurrency based gaming economy. GAIMIN releases GAIMCRAFT API technology to convert Web2 applications to Web3 Analysis based on this information:GAIMIN, the decentralized gaming company, has introduced the GAIMCRAFT API to enable game developers to transform their Web2 games into Web3 and utilize blockchain technology. The GAIMCRAFT API grants game developers the ability to integrate NFTs into their games, thus creating a cryptocurrency-based gaming economy. This marks a huge milestone for game developers who are looking to move to Web3 to take advantage of blockchain-based technology. Web2 is the current state of the internet. It refers to sites that are static and non-interactive, meaning users only browse without much interaction or…
-
What software does BTG use? (What software can mine BTC?)
What software does BTG use? Common software for mining the BTG blockchain proje
-
Aptos Ecological DeFi Agreement Econia Labs Raises $6.5 Million in Seed Round Financing
According to reports, the Aptos Ecological DeFi infrastructure agreement, Econia Labs, completed a seed round financing of $6.5 million, with Dragonfly leading the investment, and
-
The Rapid Growth of Cryptocurrency Sales: Bitcoin and Ethereum Leading the Way
According to reports, data shows that in the past 24 hours, the entire network has sold out 64.582 million US dollars, of which Bitcoin sold out 24.9427 million US dollars and Ethe
-
Huobi Acquires Key Departments of Poloniex
On March 9, according to the Huobi staff letter disclosed by insiders, many departments of the cryptocurrency trading platform Poloniex will be integrated into…
-
What graphics card is good for digging Ethernet (does digging Ethernet coin cost graphics card)
What kind of video card is good for digging Ethereum? According to the official website of the video card, what kind of video card is good for Ethereum mining? In the current mainstream channels for tapping Cryptocurrency, in addition to Nvidia and AMD, many manufacturers have launched their own video cards. According to statistics, multiple manufacturers have already released the latest products According to official information, the number of high-end graphics cards produced by major chip manufacturers such as Intel and AMD far exceeds that of other brands; And these new products also provide users with more choices and feedback Do you need a graphics card to dig for Ethernet?Do you need a graphics card to dig for Ethernet?? How do you think this is useful for graphics cards? In the Bitcoin mining machine market, there are two types of people who prefer this method: first, they buy video cards to mine Cryptocurrency. Since Ethereum is the synonym of Ethereum…
-
What is Antminer S7 (Antminer S6)
What is Antminer S7? Antminer S7 is the latest product from Bitmain, using new
-
What does Dash mean (latest price trend)?
What does Dash mean? Dash is a cryptocurrency and is the most commonly used ter
-
Lido Community’s Liquidity Pledge Agreement: Proposal for Treasury Management Strategy and Execution
On April 4th, it was reported that the Lido Community of the Liquidity Pledge Agreement has proposed to approve Lido\’s treasury management principles and authorize the establishmen
-
Gala Games to Sue pNetwork on Behalf of pGala Victims
On March 20th, the blockchain game platform Gala Games announced that it would sue pNetwork on behalf of pGala victims. Gala Games stated that due to its negligence, pNetwork cause
-
TrueUSD suspends TUSD casting and redemption business for Signature Bank users amidst regulatory closure
It is reported that TrueUSD tweeted that the Signature Bank has been closed by the US regulators, so TrueCoin suspended the TUSD casting and redemption business for a small number of Signature Bank users. The coinage and redemption of other users in the TrueUSD banking network have not been affected. TrueUSD: part of USD funds are deposited in Signature Bank Analysis based on this information:TrueUSD, a stablecoin pegged to the US dollar, recently announced that it has suspended the TUSD casting and redemption business for a small number of Signature Bank users. The reason behind this move was the reported closure of Signature Bank by US regulators. This means that users associated with the affected bank will not be able to use TrueUSD at the moment. However, the coinage and redemption of other users in TrueUSD’s banking network remain unaffected by the regulatory closure. TrueUSD is one of the few cryptocurrencies that is not as volatile as others due to…