Crypto exchange Kraken has frozen accounts owned by FTX Group, Alameda Research, and their executives following their Chapter 11 bankruptcy filing.
Kraken said the accounts were frozen “to protect their creditors”, that it “maintains full reserves”, and that other users’ funds are unaffected, likely to allay users’ fears that the exchange would face liquidity issues because of the fund freeze.
Jesse Powell, co-founder and CEO of Kraken, tweeted his thoughts on the situation, saying, “We let clowns ride under our banner while they sell us out for their own interests. We give them power to speak for us, but they haven’t earned that privilege.”
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He continued to vent his rage on Twitter, writing, “An exchange implosion of this magnitude is a gift to bitcoin haters all over the world. It’s the excuse they were waiting for to justify whatever attack they’ve been keeping in their back pocket.”
