Tags: Jesse Powell

The crypto community, including prominent industry lawyers and U.S. Senator Cynthia Lummis, is sounding off about the new lawsuit filed by the U.S. SEC against cryptocurrency exchange Kraken.

Electronic devices were seized from former Kraken CEO Jesse Powell’s Los Angeles home in connection to a non-crypto-related investigation into alleged hacking and cyberstalking.

"With its low trading fees and an intuitive platform, Kraken stands as a notable choice among crypto exchanges.

According to Jesse Powell, U.S. regulators allowing bad actors in the crypto space to “suck up users, revenue and venture capital” could effectively destroy "the good guys".

One month after cutting 30 of its global workforce, Kraken said it will exit Japan at the end of January.