Not hiding his anger at recent events, Jesse Powell, the founder and ex-CEO of the Kraken exchange, took to Twitter to implicitly qualify Sam Bankman-Fried as a “clown” and a “crook”. According to him, it is important to detect this kind of actor in the ecosystem more quickly in the future in order to “protect cryptocurrencies”.
Jesse Powell speaks about the ambient chaos
Known for being one of the main champions of the philosophy of financial freedom inherent in Bitcoin (BTC), Jesse Powellthe former CEO of the Kraken exchange, vehemently lashed out at those responsible for the current situation.
Without explicitly citing FTX or Sam Bankman-Fried, Jesse Powell took the opportunity to group together all those he equates to malicious actors for the ecosystem, claiming the current situation was godsend for anti-crypto :
“An exchange implosion of this magnitude is a gift to Bitcoin hate everywhere. It’s the excuse they’ve been waiting for to justify the attack they’ve been keeping in their back pocket. We are going to spend years undoing this. »
In this long thread, the founder of Kraken does not mince words regarding this category of individuals, going so far as to refer to them as ” clown » or even « crooks “.
3/ This isn’t about aiming high and missing. This is about recklessness, greed, self-interest, hubris, sociopathic behavior that causes a person to risk all the hard-won progress this industry has earned over a decade, for their own personal gain. While already being rich AF.
— Jesse Powell (@jespow) November 10, 2022
“It’s not about aiming high and missing. It’s about recklessness, greed, self-interest, hubris, sociopathic behavior that drives a person to risk all the hard-won progress this industry has made over the past decade, for his or her own profit. While already being very rich. »
The founder of Kraken is pessimistic for the future, announcing that ” the contagion would spread ” and other companies should expect to suffer a domino effect following the collapse of FTX. A scenario that is reminiscent of the collapse of Terra (LUNA) and its fallout, particularly concerning Three Arrows Capital (3AC) or even Voyager Digital.
👉 Follow FTX news in real time on our newsfeed
The platform that simplifies trading
Buy crypto in minutes
A foreseeable situation?
According to Jesse Powell, certain signs should have alerted to ” who was really “Sam Bankman-Fried, such as” 9-figure spending to buy political favors » (FTX was the 3rd largest donor to the Democratic Party in the last US election behind the company Uline and the Hungarian financier Georges Soros).
He also mentions ” outsized ego purchases, like 9-digit sports contracts “, or the tendency of Sam Bankman-Fried to let appear a profile of billionaire philanthropist, which the founder of Kraken describes as “ ostentatious virtue “.
Beyond FTX or Sam Bankman-Fried, Jesse Powell also points the finger at the various investment fundsthe media or the experts who have ruined their reputation by “ vouching for individuals, projects, companies that they had not controlled “. He adds :
“I know for a fact that venture capitalists blindly wrote checks. Why ? Because incomes were high. Were they durable? Were they losing money on the other side? […] Never asked. »
The ex-CEO of Kraken, however, ends on a note of hopeparticularly aimed at those harmed by recent cases:
“I pray for everyone who has been caught up in this mess. Hope this doesn’t turn you away from cryptocurrencies. I hope you take care of yourself and continue to be part of this community. These are growing pains. Money can be made again. Stay with me. »
👉 Take control of your cryptocurrencies with the Ledger Nano S
The French unicorn of crypto wallets 🔒
A complete crypto experience, from buying to securing
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
457 items
