An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.

This article from 2012 is classic Jesse Powell!!

Now is Powell’s big chance, I think. These guys have the power to throw money at the thing he cares about most. I hold my breath, curious how he’ll spin it.

“Well,” says Powell, “it’s an entirely digital currency. Right now, people mostly use it to buy drugs on this site called Silk Road – that and porn. I think it has a lot of potential.”

That’s his pitch?! Drugs and porn? I can’t believe it – this acid-soaked fool has blown his big chance in one sentence. Who would invest in a thing like that?

The future of money: It’s not in your hands https://www.digitaltrends.com/cool-tech/the-future-of-money-its-not-in-your-hands/

Dave Ripley, the current chief operating officer, will succeed Mr. Powell.

Kraken’s largest shareholder, Mr. Powell will remain on the board as chairman. He plans to stay active in the company, spending his time on product development and industry advocacy.

Kraken was founded in 2011, about two years after bitcoin’s launch. It is currently the fourth-largest crypto exchange measured by spot-trading volume, according to CoinMarketCap. Though it is incorporated in Delaware, the company’s largest markets are in Europe.

It was most recently valued at $10.8 billion, according to PitchBook, and has about 3,200 employees.

Thanks for creating a reliable exchange since 2014.

I hope powell uses this opp to pull a jack and go all in on bitcoin now that he doesn't have to deal with all the support of shitcoins

I know kraken is hailed by many bitcoiners as one of the most reliable exchanges due to good PR, proof of reserves (as if such was truly possible or meaningful), LN adoption, low withdrawal fees, seigniorage and few scandals.

The reality is that it's still a KYC custodial shitcoin casino and I don't see why people keep recommending it to newcomers when there are so many bitcoin-only businesses.

Wow.

I remember 1st time i heard about Kraken, i also found Jesse angle.co profile and it said "Interested in disruption" - for some reason i still remember this

An early Bitcoin entrepreneur, Mr. Powell has been embroiled in conflict with Kraken employees after he posted inflammatory messages this year about race and gender on the company’s Slack. He urged those who disagreed with his values to leave the company. Some did.

-- https://www.nytimes.com/2022/09/21/technology/ceo-kraken-cryptocurrency-jesse-powell.html

Sounds a bit like cancel culture. But at least he remains on the board as chairman. Maybe he can then focus on more important things instead of arguing over politics/ideology.

Kudos to Jesse. On to bigger and better things!