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Kraken Co-Founder Criticizes Venture Capitalists for Enabling Fraud at FTX

Posted on 10/13/2023

Kraken Co-Founder Criticizes Venture Capitalists for Enabling Fraud at FTX

Jesse Powell, co-founder of Kraken, accuses venture capital firms of failing to exercise due diligence in their investments in FTX, leading to its financial failure. Amid ongoing legal battles against FTX's Sam Bankman-Fried in New York, Powell reveals alarming gaps in corporate governance and raises questions about venture capital responsibility in the crypto industry.

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