Kraken CEO Discusses Impact of FTX Failure — Says Damage to Crypto Industry Is Huge, Will Take Years to Undo

The CEO of cryptocurrency exchange Kraken has outlined the impact of FTX’s failure on the crypto industry. After listing multiple red flags, the executive stressed: “The damage here is huge … We’re going to be working to undo this for years.” Crypto Exchange Kraken’s CEO on Damage to Crypto Industry Caused by FTX’s Failure The CEO of cryptocurrency exchange Kraken, Jesse Powell, shared his thoughts on the collapse of FTX in a series of tweets Thursday. FTX filed for Chapter 11 bankruptcy Friday. “This is a massive setback,” he began. “Our good, trusting nature makes us easy targets for con