DOJ and FBI don close di investigation for Kraken founder Jesse Powell
Di US Department of Justice (DOJ) and Federal Bureau of Investigation (FBI don formally end di investigation dem into Jesse Powell wey be di founder of Kraken. Federal agents raid Powell house for 2023 over allegation say e dey evade sanction and money laundering wey concern Kraken cryptocurrency exchange and one nonprofit arts centre wey e establish. All di devices wey dem seize dem don return am after DOJ and FBI review di transaction records and internal documents and dem find say no enough evidence to press any charge. This one follow di US Securities and Exchange Commission (SEC) drop dia enforcement action against Kraken for running as unregistered securities exchange. Powell wey step down as Kraken CEO for 2022 don maintain say e no do anything wrong and e don file defamation lawsuit against Verge Center for the Arts. Crypto traders fit see say regulatory uncertainty around Kraken platform don reduce and e go boost market confidence short term. But, di wider regulatory risks for crypto sector still dey and any direct price impact wey fit affect Kraken-traded assets no too go big.
Neutral
Di end for DOJ and FBI investigation dem for Jesse Powell don comot one heavy burden wey dey for Kraken. If regulatory wahala reduce, e fit ginger market sentiment and reduce how much loss fit happen. But since no direct wahala don land and wider crypto regulation still dey, e no get much chance say price for Kraken assets go move well well. Traders fit dey cautious but optimistic for now, but how market go take behave long term go depend on how regulation waka.