Kraken co-founder Jesse Powell has expressed his support for the investigation into Binance and its former CEO Changpeng Zhao (CZ) by US government agencies. Powell believes that targeting offshore offenders like Binance is crucial, as US-based crypto businesses are easier targets. He emphasizes the need for self-policing within the industry to improve its reputation and suggests that reliable services playing the long game should be recommended. Powell also supports the idea of Know Your Customer (KYC) requirements to legally onboard new users to crypto. Despite Kraken’s long-term approach, the company is facing a lawsuit from the US Securities and Exchange Commission (SEC) for allegedly commingling customer funds and failing to register as a securities exchange. Kraken plans to defend itself in court and disagrees with the SEC’s complaint.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Jesse Powell, Changpeng Zhao
Companies	FTX, Ripple, Kraken, Coinbase, Binance
Currencies	None
Securities	None