Cryptocurrency traders don’t need—or even want—to be protected from market manipulation, according to the chief executive of the Kraken crypto exchange. That is one of the statements made by Jesse Powell in response to an inquiry by New York’s attorney general, Eric Schneiderman. Last week, the state prosecutor asked Kraken and 12 other exchanges for more information about how they conduct their business, as part of a “broader effort to protect cryptocurrency investors and consumers.”
Powell had earlier told trade publication CoinDesk that the firm didn’t intend to respond to the attorney general’s inquiry. But in a somewhat condescending and snark-filled blog post published yesterday, Powell says that for “most crypto traders,” protection from market manipulation or risky investments “doesn’t matter.”
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