Sources: the Treasury Department has been investigating US-based crypto exchange Kraken since 2019 for potentially violating US sanctions on Iran and more
shocked face https://twitter.com/... Ryan Mac / @rmac18 : @yaffebellany This story follows one from last month on the internal divisions at Kraken that have been stoked by CEO Jesse Powell. We learned of other things he has said internally that have raised eyebrows among employees, including messages on how he views the law. https://www.nytimes.com/... https://twitter.com/... Ryan Mac / @rmac18 : @yaffebellany And while the US Treasury investigation started in 2019, Powell continued to suggest Kraken had accounts based in Iran as of last month. We learned of a spreadsheet that was shared with employees showing Kraken had “verified accounts” in sanctioned places. https://www.nytimes.com/... https://twitter.com/...
if you say “cuban sandwich” on a venmo transfer, it won't go through because of sanctions, yet kraken had a literal list of cuban, syrian, and iranian accounts https://www.nytimes.com/... https://twitter.com/...
The next ~2 years gonna be a massive bull market for legal fees. Coinbase is the “frontliner” for all exchanges with the SEC. But treasury department is far more dangerous, no “precedent” needed. What crypto exchange unlikely to face the same? https://www.nytimes.com/...
Crypto provides us with the tools to provide support anonymously to Iranian dissidents and oppressed. And what does the US do? Of course it continues to enforce the blunt instrument of sanctions that always backfire. https://twitter.com/...
Listen, there's plenty of reasons to challenge our financial sanction regime, but as a financial company having a spreadsheet carefully documenting how you violate them is probably not a good choice for the longevity of your business https://twitter.com/...
“In an internal conversation about employee benefits in 2019, Jesse Powell, Kraken's chief executive, suggested he would consider breaking the law in a wide range of situations if the advantages to the company outweighed potential penalties” https://www.nytimes.com/...
@yaffebellany This story follows one from last month on the internal divisions at Kraken that have been stoked by CEO Jesse Powell. We learned of other things he has said internally that have raised eyebrows among employees, including messages on how he views the law. https://www…
@yaffebellany And while the US Treasury investigation started in 2019, Powell continued to suggest Kraken had accounts based in Iran as of last month. We learned of a spreadsheet that was shared with employees showing Kraken had “verified accounts” in sanctioned places. https://w…