Kraken co-founder hails ‘more fair’ playing field as DOJ fines Binance
Kraken co-founder Jesse Powell has commended the outcomes of the Binance investigation and emphasized the importance of long-term vision in the crypto industry. Many leading crypto exchanges, including FTX and Binance, have been under US government scrutiny over accusations such as misuse of investors' funds and avoidance of Anti-Money Laundering (AML) regulations. Powell views these investigations as necessary and positive, although he mentioned that US-based crypto businesses like Kraken are easy targets. He urged the crypto industry to self-regulate to improve its reputation. However, Kraken was recently sued by the SEC for allegedly mishandling customer funds and not registering as a securities exchange. Kraken disputes these charges and plans to defend in court.
