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Kraken retaliates to New York Attorney General Barbara Underwood’s statement against the platform

Priya

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Source: Unsplash

Kraken, one of the leading exchange platform around the world, retaliated to the statement made by the New York Attorney General Barbara D. Underwood. The exchange platform said that the release of the report on Virtual Markets Integrity Initiative coincides with the expiration of CBOEs futures contract.

The statement made by the exchange platform on Twitter stated:

“Thanks to the NY taxpayer for funding this research — saved our Product team a lot of time, and we got some interesting non-public info on our competitors. Excellent overview of issues, and a nice list of ‘Questions Customers Should Ask’ on pg 32.”

The platform continued to say that the people “must” stand against unprofessional and malicious implications. According to them, the accusation of probably being involved in the illegal operations by the Attorney General is because the platform did not participate in the voluntary inquiry launched by them earlier this year. They further added that they do not operate in New York and that the Attorney General case is based on public opinion.

In addition, the platform pointed out that the report by the Attorney General was published a day before the expiration of the CBOE futures contract. They said:

“Who traded on insider information and what is being done to prevent manipulation by @NewYorkStateAG employees? Quis custodiet ipsos custodes?”

The statement ‘Quis custodiet ipsos custodes transalates’ to ‘Who watches the watchers’. Moreover, the CEO of Kraken, Jessey Powell compared the NY Attorney General to an “abusive, controlling ex”. He said:

“NY is that abusive, controlling ex you broke up with 3 years ago but they keep stalking you, throwing shade on your new relationships, unable to accept that you have happily moved on and are better off without them. #getoverit”

The Office of Attorney General had sent across an inquiry form in the month of April 2018 and stated that they would be publishing a report based on the information collected by the exchange platform. The Virtual Market Initiative Integrity was launched in the order to protect the investors of New York who trade cryptocurrencies.

The inquiry form was sent to over 13 exchanges asking for information related to trading fees, basic operations, trading practices and policies. The inquiry faced both positive and negative response with Coinbase, Bittrex agreeing to provide information and Binance, Kraken refusing to provide the information.

Moreover, the CEO of Kraken openly dissented the inquiry calling it an abuse. Jessey continued to say that that the team made the right choice by deciding to shift out New York.



However, the report which was published by the Attorney General calling out all the exchange platforms which refused to take part in the inquiry. The report alleges that these exchange platforms are probably involved in operating unlawfully in New York. The Attorney General Babara Underwood recommended investors considering to participate in the cryptocurrency market to read the report.

Statement regarding Kraken | Source: NY AG Report

Statement regarding Kraken | Source: NY AG Report

Mr. Hyde, a cryptocurrency investor and trader said:

“This is why the US will be last in the technology and innovation race. The greed and power of the government in this country is incredible. We the people should be able to decide if these platforms are too risky or problematic, it’s our money at stake.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Coinbase is a huge net positive for not just cryptocurrencies, but for the world, says Bitcoin Cash proponent Roger Ver

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'Coinbase is a huge net positive for not just cryptocurrencies, but for the world', says Bitcoin Cash proponent Roger Ver
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Roger Ver, a well-known Bitcoin Cash influencer and CEO of Bitcoin.com, spoke about the controversy surrounding #DeleteCoinbase campaign, where he stood by the exchange. He also explained the reason behind why he does not consider BTC to be Bitcoin, in an interview with BreakerMag.

Coinbase, a leading cryptocurrency exchange platform, recently made an uproar in the cryptocurrency market over acquiring Neutrino, a blockchain analytics firm. This acquisition resulted in the majority of the cryptocurrency space joining the #DeleteCoinbase movement as the Neutrino team was previously associated with Hacking Team. More so, it was further revealed that the acquisition took place because Coinbase’s providers were selling its data to outside sources.

However, while the majority of the space was chanting #DeleteCoinbase, Roger Ver, on the contrary, spoke in favor of the exchange. On his official social media handle, Ver had stated that the exchange has made a lot of contribution towards driving the adoption of the cryptocurrency space and that space should “be grateful despite a few poor decisions along the way”, adding “Don’t #DeleteCoinbase”.

In the interview, Ver was asked whether Neutrino’s association with Hacking Team did not bother him, and the reason behing why he chose to stay beside the exchange. To this, Ver stated that he was “incredibly troubled” with the association, adding that this was a “really stupid mistake”. He went on to state,



“But people make mistakes sometimes, and I don’t think that it was an intentionally bad mistake on Coinbase’s part. Once they saw the error of their ways, they fixed that. And Coinbase has onboarded millions and millions of people to cryptocurrency. I think Coinbase is a huge net positive for not just cryptocurrencies, but for the world.”

This was followed by Ver speaking about the reason behind his belief that BTC is not Bitcoin. Ver has been previously criticized because of the same topic, so much so that there were people who were considering taking legal action against him. This was because of propagation that Bitcoin Cash [BCH] was the real Bitcoin.

On this, Ver stated there were several people who have called him a “scammer” because of this, adding that there were barely any who was up for an argument, instead of name-calling. He also stated that there was a possibility of him believing that BTC was indeed the real Bitcoin, but stated that there weren’t “any arguments that are compelling at this point”. He said,

“I came to those conclusions based on the logic and reason and evidence and arguments that favored those positions. And if someone wants to try and convince me that BTC is bitcoin, even though it’s not a peer-to-peer electronic cash system, I will listen to those arguments and evaluate them based on their merits.”





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