Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Robinhood CEO Vlad Tenev: Blockchain Can Open Private Markets to Retail Investors 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Wizards of the Coast Balances High-Level Play in Final 5th Edition Dungeons & Dragons Campaign 
Paytm Shares Plummet as Regulatory Crackdown Takes Toll 
Mastercard Partners with Reserve Bank of Australia for Groundbreaking CBDC-NFT Trial 
Elon Musk's X to Launch In-App Payment Services on Social Media Platform in Mid-2024 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
BlackRock Seeks FDIC Oversight Deadline Extension to March 
Visa Launches Global AI Advisory Practice to Unlock the Potential of AI in Payments 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
PayPal Unveils Direct Crypto to US Dollars Conversion; MetaMask Integration Goes Live 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
JPMorgan, Citibank Korea Face FTC Penalties Over Collusion; Supreme Court Upholds Ruling 
Jesse Powell, co-founder of the cryptocurrency exchange Kraken, has publicly criticized the United States Securities and Exchange Commission (SEC) following a lawsuit against his company. The SEC has accused Kraken of several violations related to securities laws.
SEC Sues Kraken for Alleged Violations
The SEC's lawsuit, filed on November 20, alleges that Kraken did not comply with securities regulations. Specifically, the commission claims that Kraken failed to register its crypto asset staking-as-a-service program and did not follow proper procedures for separating customer and corporate funds.
Powell's Reaction to the SEC's Move
In response to the lawsuit, Powell expressed his frustration with X (previously known as Twitter). He used the term "top decel," common in tech circles to denote a hindrance to progress, to describe the SEC. Powell expressed his belief that the SEC's actions were excessive, especially after Kraken had previously agreed to a $30 million settlement in February for similar issues. He advised other crypto companies to steer clear of the United States to avoid costly legal confrontations.
Kraken's Defense and Response
A spokesperson for Kraken refuted the SEC's claims, particularly the allegation of listing unregistered securities. They described the lawsuit as disappointing and stated that Kraken is prepared to defend its actions in court. In a blog post dated November 20, Kraken addressed the SEC's accusation of commingling funds. The company argued that the regulator's claim was baseless, emphasizing that it only involved the use of fees that Kraken had rightfully earned and that no user funds were reported as missing.
Impact on the Crypto Industry
This legal battle between Kraken and the SEC underscores the ongoing tension between cryptocurrency platforms and regulatory bodies in the United States. The outcome of this case could have significant implications for how crypto exchanges operate and are regulated in the future.
