Kraken CEO defends LUNA 2.0 listing: "Bitcoin traders do not pay their bills"

Kraken CEO defends LUNA 2.0 listing: “Bitcoin traders do not pay their bills” – Mail Bonus

The cryptic winter has great emotions. Kraken CEO Jesse Powell was criticized for defending the new LUNA, also known as LUNA 2.0, which seeks to bring the original LUNA – now known as Luna Classic (LUNC) – and TerraUSD – now known as TerraUSD Classic ( USTC) – back from the dead.

Reputable names in the crypto industry, such as Nic Carter of Castle Ventures, spoke out against the decision, but in a special tweet, Powell criticized short seller Jim Chanos, who had built up a large dose against Coinbase, Kraken’s biggest rival.

Carter simply tweeted “why” on the official Kraken Twitter account that announced the registration of the new LUNA.

The world’s fourth largest cryptocurrency exchange, Kraken lists over 160 cryptocurrencies. The list grows every month, from Bitcoin (BTC) to Filecoin (FIL) to another iteration of LUNA, which now sits in 164th place on its price index.

The first Terra collapse wiped out about $ 50 billion, causing suicide lines to be attached to Terra subreddit, while legal documents show Terra Ks founder Do Kwon wound up two branches and an entire business days before the crash.

Related: Switches back to “Terra 2.0 resuscitation program” with air drops, registration, acquisitions and incineration

The project was then worked on hard and launched again with little or no pay for poor investors. Aircraft, for example, did not go as planned by developers, as symbols were unevenly distributed. The new LUNA has since fallen from its highest levels to almost $ 20 to less than $ 8, despite a 90% price increase propelled by Binance droplets.

Price card for LUNA showing the Binance pump on 30 May. Source: CoinMarketCap

Powell points out that “customer demand” has encouraged the registration of LUNA. Rohan Gray, an associate professor of law at Willamette University, called Powell on the move, quarrel that eBay does not allow fraudsters to remain in the e-commerce platform, so why should a cryptocurrency exchange allow Terra a seat at the table? The comment was a disgrace to Powell’s statement about Kraken:

“We are a marketplace, like eBay. BTC <> BTC traders do not pay the bills. “

Powell has previously shown a decisive side to his business and recently closed Kraken’s international headquarters because “San Francisco is not safe”. However, when it comes to money and Kraken, “We try to be as wealthy as possible,” he tweeted.

“Fiat and most stocks are rubbish, but where’s the scandal? Revenues from these other currencies pay for all the security, advocacy and advocacy for BTC and marketing.

In a special Twitter thread, Kraken defended the future of cryptocurrency. Í Crypto Critics Corner Podcast, Chanos – American investment manager – explained the short time he had built up against Coinbase, the largest cryptocurrency exchange in the United States. For Powell, there will be a “change of attitude in the next 10 years,” and cryptocurrency will emerge victorious.

Fighting and Twitter spitting aside, for those looking for a word among the war of words, Powell shared his investment options for choosing Bitcoin, investing in stock exchanges or both:

Kraken did not immediately respond to a request from Cointelegraph for comment.