Jesse Powell, the founder of Kraken, one of the leading US-based cryptocurrency exchanges, issued a harsh statement yesterday following a lawsuit filed by the Securities and Exchange Commission (SEC).
“America’s biggest diesel – a slang term for those who want to thwart technological progress – is back with a new attack. The masochists were not satisfied with the beating they received in New York. Powell continued his statement as follows:
“The message is clear: $30 million will buy you about 10 months before the SEC comes back to collect on you again. Lawyers can do a lot with $30 million, but the SEC knows that a real fight would cost more than $100 million in money and time. If you can’t afford it, get your crypto company out of the American war zone.”
Kraken said in its official statement that it will vigorously defend itself in court. The company said the development had no impact on the products offered and added, “We will continue to provide uninterrupted service to our customers.” Said.
Noting that he had tried the same arguments presented in lawsuits filed by the SEC in previous cases, but the court had completely rejected them, Kraken said, “This case will also fail for the same reasons.” He claimed.
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