Summary:
Jesse Powell, the co-founder and former CEO of Kraken, is under federal investigation for alleged hacking and cyberstalking involving a non-profit organization, Verge Center for the Arts. The FBI has searched Powell’s residence and seized electronic devices, and the U.S. attorney’s office has been investigating him. Verge accused Powell of unauthorized access to confidential information and obstruction of their email services and website. Powell’s lawyer confirmed the investigation but stated it is unrelated to his employment at Kraken. Kraken expressed that they are not part of the investigation. Powell’s lawyer challenges Verge’s account of events and believes a comprehensive perspective would show Powell’s innocence. Powell recently took legal action against Verge for being removed from their board.
Key Points:
- Jesse Powell, co-founder of Kraken, is under federal investigation for alleged hacking and cyberstalking involving a non-profit organization.
- The FBI searched Powell’s residence and the U.S. attorney’s office has been investigating him.
- Verge accused Powell of unauthorized access and obstruction of their email services and website.
- Powell’s lawyer confirmed the investigation is unrelated to his employment at Kraken.
- Kraken stated they are not part of the investigation.
Hot Take:
Jesse Powell’s involvement in a federal investigation for hacking and cyberstalking allegations is a significant blow to his reputation as a prominent figure in the cryptocurrency industry. If the allegations are proven true, it raises concerns about the integrity and ethics of individuals in the industry. The outcome of the investigation will have implications not only for Powell but also for the broader perception of cryptocurrency exchanges and their leaders.