Fun

News Feed - 2023-11-21 02:11:36

Tom Mitchelhill3 hours agoKraken co-founder slams ‘decel’ SEC, warns others should flee USJesse Powell didn’t mince words when he criticized the SEC for suing his exchange, calling it the country’s “top decel.”1503 Total views29 Total sharesListen to article 0:00NewsJoin us on social networksKraken co-founder Jesse Powell has lashed out at the United States Securities and Exchange Commission (SEC) after it sued his crypto exchange for alleged securities law violations.


In a Nov. 21 post on X (formerly Twitter), Powell called the regulator “USA’s top decel” — a term used in tech circles to insult someone who slows progress — and claimed the SEC wasn’t satisfied with the $30 million it levied from Kraken as a settlement in February.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


In a follow-up post, Powell said the SEC’s message to Kraken and other crypto firms was clear and warned other crypto companies to leave “the US warzone” to avoid expensive legal battles.“$30m buys you about 10 months before the SEC comes around to extort you again. Lawyers can do a lot with $30m but the SEC knows that a real fight will likely cost $100m+, and valuable time. If you can’t afford it, get your crypto company out of the US warzone.”


The regulator had previously charged Kraken with “failing to register the offer and sale of their crypto asset staking-as-a-service program.” As part of its settlement, Kraken agreed to pay $30 million and cease offering crypto-staking products and services to U.S. customers.


Related:Kraken will share data of 42,000 users with IRS


Powell’s incisive comments come after a Nov. 20 lawsuit from the SEC pinned Kraken on several securities law violations.


The SEC accused Kraken of failing to register with the agency as a securities broker and claimed it had commingled customer and corporate funds.


A Kraken spokesperson denied it listed unregistered securities and described the lawsuit as “disappointing,” saying the exchange would defend its position in court.


In a follow-up Nov. 20 blog post, Kraken said the SEC’s commingling accusations were “no more than Kraken spending fees it has already earned,” and the regulator doesn’t allege any user funds are missing.


Magazine:Exclusive — 2 years after John McAfee’s death, widow Janice is broke and needs answers# Kraken# Law# Business# SEC# Cryptocurrency Exchange# Court# RegulationAdd reactionAdd reactionRead moreHow to manage crypto losses on tax returns in the US, UK and CanadaHistory tells us we’re in for a strong bull market with a hard landingKraken to suspend trading for USDT, DAI, WBTC, WETH and WAXL in Canada

News Feed

Brazil leads LATAM crypto trading with $6B volume in 2024
Ana Paula Pereira3 hours agoBrazil leads LATAM crypto trading with $6B volume in 2024Brazil recorded a 30% increase in crypto trading volume in the first months of 2024, outpacing USD weekly trading volume since mid-Janu
EigenLayer TVL hits $12.9B, climbs 11% in one week — IntoTheBlock
Josh O"Sullivan13 hours agoEigenLayer TVL hits $12.9B, climbs 11% in one week — IntoTheBlockEigenLayer leads the restaking sector with a $12.9 billion TVL, driven by AVS rewards and growing interest in Ethereum-based r
Indian Crypto Banks and Exchanges See Massive Growth Amid Rising Covid-19 Crisis: Survey
Indian Crypto Banks and Exchanges See Massive Growth Amid Rising Covid-19 Crisis: SurveyThe crypto industry in India is experiencing massive growth, according to a new survey of cry
Chris Jones14 hours agoA new age in investing: The transformative power of asset tokenizationFrom real estate to franchising, and from renewable energy to Hollywood, tokenization has the potential to transform the way we
Jesse Coghlan7 hours agoCrypto products see 4th week of inflows amid race for Bitcoin ETFs: CoinSharesBitcoin products took the largest share of inflows, netting 84% of incoming funds, according to CoinShares’ weekly f
Game of Thrones NFTs Sell Out Quickly, But Draw Criticism for ‘Poorly Drawn’ Characters
Game of Thrones NFTs Sell Out Quickly, But Draw Criticism for ‘Poorly Drawn’ Characters The cryptocurrency community is discussing the new “Game of Thrones” non-f
Bitcoin’s Third Halving: Survey Shows 50% of Miners Expect a Price Increase
Bitcoin"s Third Halving: Survey Shows 50% of Miners Expect a Price IncreaseThe block reward halving for BTC is 32 days away and crypto businesses and mining operations are steadily
Morgan Creek CEO Says FTX Co-Founder SBF Was a ‘Pawn’ Used to ‘Punish’ the Crypto Industry
Morgan Creek CEO Says FTX Co-Founder SBF Was a "Pawn" Used to "Punish" the Crypto Industry Following FTX’s collapse, many industry executives, influencers, luminaries, and p
‘Panic of 2023’: James Corbett Explains How Bank Crisis Could Lead to CBDC ‘Nightmare of Total Monetary Control’
"Panic of 2023": James Corbett Explains How Bank Crisis Could Lead to CBDC "Nightmare of Total Monetary Control" Investigative journalist James Corbett has recently referred to the
David Attlee53 minutes agoBrazil: Senate Commission will analyze the AI bill in 120 daysThe bill, aimed at regulating the artificial intelligence in the country, was introduced to the Senate in December 2022.298 Total vi
Neiro memecoin developer makes $2.85M profit after apparent rug pull
Zoltan Vardai10 hours agoNeiro memecoin developer makes $2.85M profit after apparent rug pullThe developer wallet made an over 5,100x return on his initial $550 investment.1859 Total views2 Total sharesListen to article
Socialite and Model Alexis Ren Doesn’t Trust the Dollar Economy, Says Crypto Is a Viable Alternative
Socialite and Model Alexis Ren Doesn"t Trust the Dollar Economy, Says Crypto Is a Viable Alternative The American social media personality and model, Alexis Ren believes the fiat e