Kraken Donates $1 million to Coin Center

wxm11 (37)in #cryptocurrency • 7 years ago

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Kraken, a legendary sea monster, has quenched its thirst and donated $1 million to non-profit.

The CEO of a well-known cryptocurrency exchange Kraken, Jesse Powell, has donated $1 million to a non-profit Coin Center on Monday. Also, Kraken pledged to match any donation to Coin Center up to $1 million until the end of this month.

According to Coindeks, this was the largest donation Coin Center has received. It appears that Kraken is trying to help Coin Center with regulatory issues and build a partnership.

Eric Schneiderman, a former New York Attorney General, issued an inquiry of “internal controls and safeguards to protect consumer assets” to Kraken and other 12 exchanges in April.

The generous act from Kraken was received with much applause. Also, Powell was humble enough to not say anything about the donation. Let the actions convey the message.

Regarding the regulatory issues, numerous experts in the cryptocurrency fields have said that the current regulatory environment is becoming a mess for exchanges who comply or are ready to.

Sources:
Coindesk

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