CEOs of Coinbase and Kraken rub their hands

The departure of Changpeng Zhao, the CEO and creator of Binance, was a bolt from the blue this week. But the competitors of the world's largest exchange, including Coinbase and Kraken, are rubbing their hands... And inviting the ecosystem to follow the rules of the game.

The Binance affair and the departure of Changpeng Zhao have sparked numerous comments in the ecosystem. Among these, we find, unsurprisingly, the other major CEOs of platforms competing with Binance, who gave their opinion. Brian Armstrong, CEO of Coinbase, and Jesse Powell, CEO of Kraken, both welcomed a decision they believe is right. For Jesse Powell

“The game seems a little more balanced today. These last twelve months have allowed us to answer two fundamental questions […]: how do they manage to move so quickly? And how do they keep it from finding out? »

Prioritize a long-term vision

This sentiment is shared by Brian Armstrong, who also wrote about X. The Coinbase CEO explains that Coinbase's slower progress was due to its compliance with the rules:

“Since the creation of Coinbase, we have favored a long-term vision. […] This meant that we could not move as quickly as the others. […] You can’t release whatever product your customers are asking for when it’s illegal. »

Brian Armstrong also confirms that Coinbase is determined to stay in the United States, despite the difficulties linked to the vague regulation of crypto companies:

“We are going to stay here in the United States, because we believe in economic freedom, and we believe that the democratic system of the United States will eventually find the right path. »

Jesse Powell recalls, however, that the SEC has not finished its campaign against crypto companies, and that it will affect Kraken, Coinbase and the others:

“Kraken, Coinbase and Ripple are easy targets because they are local.