Who’s Crypto’s “Top Decel”?
Following the US Securities and Exchange Commission’s decision to go after Kraken, one of its co-founders, Jesse Powell, took to X (Twitter).
Powell decided not to mince with words.
Powell’s tweet. Source: X (Twitter)
He added a tweet where he said that he believes that the SEC operates this way on purpose.
“Message is clear: $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,” he added that “If you can't afford it, get your crypto company out of the US warzone.”
Many of the responses to his tweets were highly emotionally charged. One user labeled the SEC as modern day thugs and gangsters. Another one wrote, “winner picking, gate keeping, market manipulating, extortionists! But thanks to Gary, their failed regime has demonstrated loud and clear that expedition in dissolution is essential to, ironically, protect investors.”
Another user stated Powell’s explanation was exactly what he was told years ago, adding that “you don't need to be doing anything wrong, at all.”
“They will exhaust you of your resources until you can not fight anymore,” he added.
The tweet comes after the SEC filed a complaint. In it, it alleged that Kraken operates as an unregistered national securities exchange, broker, and clearing house.
The exchange already stated it disagrees with the claims and plans to vigorously defend its position.
