Kraken Co-founder, Jesse Powell shared a mixed-emotional post on X after Binance pleaded guilty on Tuesday. In the post, he said that the current situation of the crypto industry feels “a bit more fair”. Powell stated that the industry has addressed two major shareholder concerns in recent years: the rapid rate of development and the apparent inability to overcome legal hurdles.
Powell shows his deep concern over the sanctioning of good companies by regulating authorities. The legal actions have cost the firms a hefty amount of money with a dwindling market share, he argues.
Jesse Powell’s Trust on Kraken’s Shareholders
Proceeding further, he stated that fortunately, the company has long-term oriented shareholders who trust them. The statement came after Kraken reported a massive Bitcoin exchange outflow from the platform on 21 Nov 2023.
The founder also highlighted new challenges to the industry’s reputation. Stating that any problematic operation offers governments an oppor
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