Ah, mes chers lecteurs, gather ’round, for a tale of intrigue, nuance, and the ever-entertaining world of cryptocurrency! This week, our esteemed Ripple CTO, David Schwartz, posed a simple IPO poll, but lo and behold, it turned into a farce worthy of the Comédie-Française! One audacious soul seized the moment to revive the age-old accusation: “Jesse Powell, cofounder of Kraken, hath a heart as cold as a winter’s morn toward Ripple and XRP!” 😱
But Schwartz, ever the voice of reason, would not suffer such folly! “Fie upon this slander!” he cried (or tweeted, rather). “Powell’s stance, methinks, is as nuanced as a Molière monologue, not a mere tirade of hate!” 🧐
This prompted a grand investigation into Powell’s XRP history, revealing a relationship more tangled than a courtier’s web of lies. Powell, you see, hath long been a vocal critic of XRP’s legal ambiguity, warning of complications for regulators. Yet, his tone was not one of disdain, but of caution, seasoned with technical wit. 🧑⚖️
“Is he truly a Ripple hater? My memory doth recall a more mixed affair.”
— David ‘JoelKatz’ Schwartz (@JoelKatz) August 1, 2025
In one memorable exchange, Powell argued that if XRP were deemed a security, exchanges like Kraken could face liability, even if they acted in good faith. “An asymmetrical risk!” he declared, making listing decisions as perilous as a tightrope walk sans net. 🪢
And when Kraken suspended XRP trading for U.S. customers, Powell made it clear: ’twas a business decision, not a personal slight. “The legal uncertainty,” he said, “is too risky from a business perspective.” 💼
Kraken’s $15 Billion IPO: A Comedy of Valuations
Now, this debate resurfaces as Kraken once again sets sail toward IPO waters. The company seeks to raise $100 million, aiming for a valuation of over $15 billion. If successful, it would revive IPO plans shelved after Coinbase’s tumultuous debut. 🤑
Kraken, ever the stalwart exchange, boasts over $1.37 billion in daily trading volume and supports more than 1,100 trading pairs. Yet, the question remains: will XRP’s shadow linger over its public debut? Only time will tell, mes amis. 🕰️
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2025-08-01 13:10