The CEO and co-founder of the Kraken cryptocurrency exchange believes that the cryptocurrency industry is too easy to accept outright scammers who are chasing profits into their ranks, for which they are paying.
Jesse Powell spoke about the situation around the FTX crypto exchange crisis. According to the businessman, most of the participants in the crypto industry are too gullible for no apparent reason. Powell is confident that the current situation should open the industry's eyes to the abundance of scammers and incompetent people:
“Our approach makes us an ideal target for scammers: some participants in the crypto industry sometimes almost directly say that they came into the industry for money, and not for innovation and technology, and we accept them, marveling at honesty. However, when disaster strikes, we wonder how it happened. I think we should raise our standards."
The head of Kraken emphasized that the situation with FTX would not significantly affect his company and users, but noted that in general the damage to the crypto industry would be huge.
A stock market explosion of this magnitude, says Powell, is a boon for all the bitcoin and cryptocurrency haters in general, as it provides the excuse these people have been waiting for to justify attacking the industry.
Earlier, analysts at investment bank JPMorgan reported that the fall of bitcoin is not over and the crisis associated with the lack of liquidity of the FTX exchange could lead to cascading liquidations.
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