Kraken CEO Lambasts Canada’s Financial System, Backs Bitcoin and Truckers

By Bhushan Akolkar
February 24, 2022 Updated February 24, 2022
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Jesse Powell, the CEO of crypto exchange Kraken recently criticized Canada’s emergency act aimed at ending the truckers’ protest. The Ontario Securities Commission recently announced the seizure of crypto wallets after truckers started receiving funds in Bitcoin after the GoFundMe episode.

The Kraken CEO has been outrightly vocal against these measures by the Canadian government and believes that the authorities have gone too far in the trucker vaccine mandate. To support the truckers, Jesse Powell also donated an entire Bitcoin earlier this month on February 6. In his recent interview with Forbes, Powell added:

“I’m personally against the mandates. I think they’re just immoral. I also think there’s, at this point, a lot of evidence to suggest that we’ve been lied to or information has been withheld. And I think its efficacy is dubious at best.”

Powell – Canada Weaponizing Financial System

The Kraken CEO is often known for not mincing his words and being to the point! Lashing out at the Canadian government in harsh words, Powell said that the “traditional financial system has essentially been weaponized” and “crowdfunding platforms are regulated like terrorist financing platforms”.

While speaking in his personal capacity, Powell said that his customers can take off assets from his exchange if they fear that the Canadian government would seize them. He further added:

“It is a sad day for our neighbors in the north. Emergency powers meant to protect the nation’s sovereignty in war have been turned inward, against ordinary citizens selling coffee to protestors against forced medical procedures. The Canadian government now has the authority to confiscate – without warning, without due process – all your financial accounts, simply for being suspected to have supported the protests, in any way, by any stretch of their imagination.”

Powell added that all this happening in a relatively free country like Canada is even more troublesome. Apart from Jesse Powell, Coinbase CEO also lashed out at the Canadian government stating: “Concerning to see stuff like this happening in any country, especially such an economically free place like Canada. Self-custodial wallets are important!”

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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