Kraken CEO Jesse Powell: ” If you worried about your assets being frozen don’t keep your funds with any centralized/regulated custodian. We cannot protect you, cash out and only trade p2p.”

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There was a post by Kraken founder about new Canadian legislation and I saw one very interesting and alarming reply on the comments. One of his followers just replied Jesse that Kraken may be put in position to freeze our assets without judicial consent and will probably comply to that request. Jesse just 100% agreed with that person and on top of that suggested to keep funds away centralized exchanges.

I think it’s the first time we see any CEX CEO suggesting to move away our funds from centralized custodians. We should definitely appreciate the man for raising alarm and being so honest even though it may harm his business.

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31 thoughts on “Kraken CEO Jesse Powell: ” If you worried about your assets being frozen don’t keep your funds with any centralized/regulated custodian. We cannot protect you, cash out and only trade p2p.””

  1. Kraken support is awesome. I have fucked up an XLM transfer and they responded quickly but more importantly, I got my money back. Bullish on Kraken support.

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  2. Why is this concerning? You guys should know damn well that any centralized exchange is subject to laws and if told to will freeze assets to enforce said laws. This shouldn’t be a surprise or something you think they shouldn’t do.

    You trade in complete autonomy and self governance for convenience and a trading platform. You want easy access to a large market of traders and fiat? Centralized exchanges are it. And guess what, for them to exist that means they give info for taxes and have their hands tied if a local government wants things shut down.

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  3. Kraken has been the n1 since the early days. Binance and Bittrex are scum, seriously guys.

    Stay away from these exchanges, they don‘t value your rights. Kraken is by far the best exchange out there.

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  4. Please note that Kraken is a US based exchange.

    Canadian legislation forcing them to freeze accounts would only effect Canadian customers.

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  5. After using Coinbase and Binance in the past moving to Kraken was like a complete breath of fresh air. Their platform works and their support is inspiring and honest. Best exchange out there.

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  6. I don’t keep my coins on and exchange but if I were to hit it big, Kraken was my fiat off-ramp, it’s still good for that though right? I’m Canadian

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  7. I had to move away from Kraken because in the early days the user interface/server connectivity was so inconsistent but they’ve always been good stewards of the community (in my experience). Glad to see them continue the trend.

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  8. IDK much about CC in general, and have only invested a pretty small amount (less than 1k for now). It’s hard to trust a company without doing immense DD. So I rely on you guys, and every thread or comment I read, people were positive about Kraken. So that’s where my coins are.

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  9. These comments make me realize how easy it is for people to sell you shitcoins. So a ceo comes out and says something we literally all know. And now everyone is just riding his dick like he’s god claiming kraken is the most trustful exchange ever. I know now why everyone here buys shitcoins and falls for them.

    My goodness people we have known this, this is nothing new. Stop acting like fan boys. At the end of the day kraken is nothing special. It’s a centralized exchange that charges ridiculous fees to secure bitcoin and even charges you to withdraw. Wake up.

    If this guy really believes in this why is he charging you to withdraw to a HW? That is ridiculous . If he feels so strongly about this how about he makes it easier and FREE for his customers to withdraw? Last I check he is charging like 0.00002 bitcoin to withdraw, this is a big number. Obviously the ceo has other intentions and you guys (like buying dogecoin) eat it right up. Now his company is about to make a shitload just from you guys taking custody over your coins (which you should have been doing all along)

    If you wanna hear a good ceo listen to jack mallers. Ceo of strike who charges zero to buy and zero to withdraw. This is what a real exchange should be like. He doesn’t have to make announcements like this, he just lets his company do the talking.

    Wake up people. This is just embarrassing. Stop the dick rding

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  10. Qredo has decentralized self custody with multicomputation technology.
    You guys should look into it.
    Just finished a founding round with 10T.

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  11. Qredo fixes this. It allows you to trade on a CEX with your own wallet. You’ll never have to tranfer funds to an exchange again.

    Look it up, it’s great. An exchange will have to support it though.

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  12. It takes a calculated risk or huge balls to tell the truth but it’s nice to see it once in a while. Especially if they know it affects a huge audience. The end goal is decentralization after all so it’s refreshing to see

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  13. I’m too greedy to leave interest on the table but I do also have a “doomsday stash” in cold storage and I keep adding to that stack as the world gets more and more fucked.

    Reply

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