Kraken Exchange CEO Jesse Powell Slams SEC for ‘Assault on America’
Jesse Powell, co-founder of crypto exchange Kraken, has called the US regulators masochists attacking America and extortionists chasing crypto companies out of the country.
Powell came after the country’s regulators, specifically the Securities and Exchange Commission (SEC).
On Tuesday, he tweeted that,
“USA’s top decel is back with another assault on America. The masochists haven’t been happy with the beatings they’ve been taking in NY and are shopping for a different flavor of RegDom in CA.”
“Decel” stands for “decelerationist.” It is used as derogatory slang in certain communities for someone who aims to slow down (decelerate) technological progress.
USA's top decel is back with another assault on America. The masochists haven't been happy with the beatings they've been taking in NY and are shopping for a different flavor of RegDom in CA. I thought we settled all their concerns for $30m in Feb. Now they're back for seconds? https://t.co/SkfPJyneUz
— Jesse Powell (@jespow) November 21, 2023
This comes as the SEC sued the crypto exchange again. It claims Kraken operates as an unregistered national securities exchange, broker, and clearing house.
The exchange denied the claims, stating it would “vigorously” defend its position.
According to the SEC’s complaint, “since at least September 2018, Kraken has made hundreds of millions of dollars unlawfully facilitating the buying and selling of crypto asset securities.”
The commission seeks injunctive relief, conduct-based injunctions, disgorgement of ill-gotten gains, interest, and penalties.
However, it also included that it had settled with Kraken for $30 million in February.
The SEC added that the exchange agreed to stop offering or selling securities through crypto asset staking
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