Kraken exchange Jesse Powell CEO resigns 

Jesse Powell has confirmed his resignation as CEO of cryptocurrency exchange Kraken, after 11 years in the position.

According to the press release, current CEO Dave Ripley will temporarily take over the role of Jesse Powell until someone else takes over. Powell will transition to the position of Chairman of the Board of Directors of Kraken and continue to develop products and contribute to the crypto industry.


It is known that Powell has just undergone surgery because of a neck injury. This may also be the reason for his decision to back down. 


Powell is a longtime Bitcoin (BTC) supporter and has led Kraken since 2011. Back when the market was facing a wave of layoffs, the major North American exchange was still “haughty” to fill. Hundreds of new employees. At that time, CEO Jesse Powell denied the accusation of a "toxic work culture" at the floor, warned the group of employees that were causing hostility and frankly asked those who were not happy to quit. 

Until recently, Kraken – famous for being the cleanest exchange – was accused by the US Treasury of aiding Iranian users in defiance of federal sanctions. However, according to insiders, CEO Jesse Powell is ready to break the law if the company benefits outweigh the costs, similar to the way the exchange refused the request of the Deputy Prime Minister of Ukraine to serve customers Russia in March.

FoxCryptoNews summary

Sep 22, 2022

0 0