Incoming CEO of Kraken Slams FTX Founder In An Interview


Future Kraken CEO Dave Ripley claims to have evidence that the cryptocurrency exchange FTX defrauded its customers.

Ripley called SBF, the former CEO of the defunct FTX platform, a “fraudster” in a recent interview with Bloomberg. He also thinks it would take time for the regulator and the government to determine the reasons for the calamity and take proper actions.

The incoming Kraken CEO claims that the failure of FTX produced a tremendous backlash on the entirety of the business, and he anticipates that the chain reaction of failing companies will continue. Despite this, he was confident that the collapse had not hampered Kraken’s operation. 

He said:

“It’s clear there’s going to be more contagion from FTX. We are not impacted by this contagion.”

Ripley also discussed Jamie Dimon in the conversation. The latter has been one of the most outspoken detractors of cryptocurrencies, referring to them as “pet rocks.”

The Kraken executive is of the impression that Dimon is not familiar with the many benefits that blockchain technology offers, which may explain why he has a bad perspective on the subject.

Kraken Founder and Current CEO Also a Critic of SBF

Kraken’s former CEO and co-founder Jesse Powell and Changpeng Zhao are two other well-known critics of SBF. The CEO of Binance recently referred to him as “one of the greatest fraudsters in history” and a “master manipulator” who has persuaded media outlets to portray him as a “hero.”

Meanwhile, the catastrophic fall of FTX has caused a great deal of sorrow for the companies, and one of the steps they have taken to alleviate this suffering is to lay off members of their workforce.

Kraken itself has recently laid off nearly 1,100 of its employees, or 30% of its overall employment, to cope with the detrimental impacts of the prolonged bear market. Several different platforms, including CryptoCom, Bybit, BitMEX, and Coinbase, among others, have all enacted steps that are quite similar to it, claiming the severe effects of the crypto winter as their reason.

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