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Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program
10.2.2023
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken...
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web
16.12.2022
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following...
Report: Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’
11.12.2022
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of...
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group
10.12.2022
This week two cryptocurrency exchanges provided proof-of-reserves in order to highlight that the trading platforms are backing customer assets 1:1. Binance published its report on Dec. 7, 2022, and detailed the global auditor Mazars Group conducted the audit. On Dec. 9, 2022, the exchange...
US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices
2.12.2022
On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse...
Kraken Crypto Exchange Cuts 30% of Workforce, Binance CEO Makes Indirect Tweet
1.12.2022
Cryptocurrency exchange Kraken has announced a major job cut, laying off 30% of its workforce or 1,100 people. Meanwhile, Binance CEO CZ warned users in a now-deleted Tweet to beware of platforms that "have layoffs."
In a Wednesday blog post, Kraken co-founder and CEO Jesse Powell said they...
Binance proof-of-reserves is 'pointless without liabilities': Kraken CEO
26.11.2022
According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets
This Exchange Enables Users to Self-Audit the Firm’s Crypto Reserves – This is How it Works
24.11.2022
Major crypto exchange OKX said it launched a self-audit feature, which currently supports three cryptoassets.
"You can now verify your assets are backed 1:1 on OKX," said the announcement. The new feature supports bitcoin (BTC), ethereum (ETH), and the USDT stablecoin, with more assets to come...
Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’
23.11.2022
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed...
Kraken Crypto Exchange Founder Jesse Powell Says This One Thing Can Trigger the Next Bull Market
21.11.2022
Jesse Powell, co-founder and former CEO of cryptocurrency exchange Kraken, has predicted that the upcoming Bitcoin halving can trigger the start of the next bull market.
Powell, who appeared in an episode of the Bankless podcast, talked about the overall state of the crypto industry following...
Bankman-Fried’s Private Jet Causes Buzz, Kraken CEO Addresses FTX Collapse, More Sleeping Bitcoins Wake Up — Week in Review
20.11.2022
With the colossal collapse of crypto exchange FTX in recent weeks, excitement in the world of cryptocurrency and finance has been in no short supply. Former FTX CEO Sam Bankman-Fried’s private jet was reportedly spotted heading to Argentina, Kraken’s CEO has addressed the fallout of...
Kraken CEO Discusses Impact of FTX Failure — Says Damage to Crypto Industry Is Huge, Will Take Years to Undo
14.11.2022
The CEO of cryptocurrency exchange Kraken has outlined the impact of FTX’s failure on the crypto industry. After listing multiple red flags, the executive stressed: “The damage here is huge … We’re going to be working to undo this for years.” Crypto Exchange...
Elephant in the Room: FTX Troubles Force Exchange Executives to Talk About Proof-of-Reserves
9.11.2022
On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has slid under $900 billion for the first time since January 2021. The Binance and FTX news has come as a shock to a lot of […]
Binance to Provide Proof-of-Reserves Following FTX Bust – Other Exchanges to Follow Suit?
9.11.2022
Major crypto exchange Binance will follow Gate.io 's and Kraken's example and start doing Proof-of-Reserve (PoR) audits, said CEO Changpeng Zhao.
Zhao, known as CZ, tweeted on Tuesday evening (UTC time) that Binance would "soon" start to do proof-of-reserves, arguing that:
"All crypto exchanges...
DeFi needs appropriate regulation before moving to retail, says Fed Chair: Finance Redefined
30.9.2022
Majority of the top 100 DeFi tokens had a mixed week, with several tokens trading in green on weekly charts, with the total value locked seeing a minor increase of $4 billion
Kraken's Interim CEO on Jesse Powell's Departure, IPO Plans and Crypto Winter
28.9.2022
Dave Ripley joined CoinDesk TV’s “The Hash” to discuss the future of the crypto exchange amid a leadership change
Jesse Powell Exits Kraken CEO Position, COO Ripley Will Take the Reins
22.9.2022
Major crypto exchange Kraken announced that co-founder Jesse Powell is stepping down from his position as CEO.
Powell co-founded the company back in 2011 with Thanh Luu, and is considered one of the pioneers in the space.
Per this announcement, COO Dave Ripley will succeed Powell, while...
Kraken CEO Jesse Powell steps down: Report
21.9.2022
Jesse Powell will reportedly be succeeded as CEO by chief operating officer Dave Ripley, who has been with the crypto exchange since 2016
Kraken’s Jesse Powell to Step Down as CEO of Crypto Exchange
21.9.2022
The exchange’s COO Dave Ripley will take over as CEO
In Crypto Winter, Jesse Powell’s Pirate-King Leadership Style Might Be the New Normal
6.8.2022
Less than 1% of employees have taken the CEO’s buyout offer since he laid down the law on culture. Is Kraken a “based” place to work, or just somewhere to ride out crypto winter?