Is this the end of happy days for Jesse Powell? Because in addition to having received the order to stop the staking service of its Kraken exchange, the SEC asked it to pay a fine of 30 million dollars. And to drive the point home, CZ sharply criticized him on Twitter for a vocabulary story.
CZ tackles Jesse Powell publicly
Binance CEO did it once with SBF, right after FTX collapsed. The recent attack on Kraken CEO Jesse Powell should come as no surprise.
” The word ‘offshore’.
Jesse Powell uses the word ‘offshore’ quite often. Here is my comment.
The term ‘offshore’ reflects narrow-mindedness, self-centeredness, ignores the situation and does not help the development of our industry. »
” I can’t tell you how infuriating it is to have raised massive red flags and blatantly illegal activity for regulators to ignore these issues. ‘They are offshore. It is complicated. We examine everyone.’ FOR YEARS. Then to be used as an example. »
In contrast to “offshore”, we have “on-shore”. If Jesse Powell tried to demonstrate the complexity of regulating foreign-based companies, Changpeng Zhao cited the case of FTX.
True, the American cryptocurrency exchange FTX has its base in the United States, but, unfortunately, that did not prevent the debacle.
” The main directors of SBF and FTX are Americans. They spent a considerable amount of their time and effort lobbying the United States,” he added
However, at the end of his Twitter thread, CZ made it clear that he respects Jesse Powell. ” […] hoping it will benefit him. I apologize for saying it so directly. I didn’t mean to hurt. »
The origin of the discord?
CZ’s tackle was prompted by a comment from Jesse Powell on a Twitter thread by Caitlin Long. The CEO of Custodia Bank has indeed published a Twitter thread in which is exposed her attempt to denounce the frauds committed by a crypto company on American soil.
This was coupled with a published article on his site entitled “Shame On Washington DC For Shooting A Messenger”.
The crypto industry has not yet reached a high level of maturity. But the series of falls (FTX, Terra, etc.) will certainly teach her to get up like an adult in the future.
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