🕵️♂️💰💻 F.B.I. Stay Poke Around Da Hale of Da Big Kahuna of Crypto Exchange
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Ho brah, get choke kine stink eye going down, all kine action like one big hana hou episode of Hawaii Five-0, but dis time, da star not McGarrett but da big kahuna himself, Jesse Powell. Da F.B.I. been all up in his business, going all shishi break at his hale back in March, all cause some people wen talk stink about him, saying he wen hack and play mean with one nonprofit arts group he wen start. 🎭🔍💥
No forget, dis guy Powell, he no just one random kine dude. He da guy who wen start da cryptocurrency exchange Kraken. And da talk on da street say he wen play all hamajang with da computer accounts of dis nonprofit, blocking their access to emails and other kine messages. Not cool, brah. Da F.B.I. and da U.S. attorney’s office for the Northern District of California, dem guys been on da case since last year fall time. 🖥️⚖️🍂
So wat da F.B.I. do? Dey go make all akamai at Powell’s hale in Brentwood, Los Angeles, take all his electronic toys, according to one person who wen see da whole thing. But hey, no worry yet, cause nobody wen say Powell wen do any crimes. 🏡📱💼
Powell’s attorney, one braddah named Brandon Fox, he say for sure his client stay under investigation. But he all, “no biggie,” saying it’s all about the nonprofit arts group, Verge Center for the Arts, and get nothing to do with Powell’s job or his actions in the crypto world. And he swear, Powell never do anything pilau. 🎨🕹️🦊
Kraken’s spokesperson wen make clear dat da Verge investigation get nothing for do with da company, and dey get no reason for think prosecutors are looking into other potential issues. But da F.B.I. and da U.S. attorney’s office, dey stay all mum about whether they investigating or not. 🦑🤷♀️🤐
Check dis out, Federal guys been cracking down on Kraken’s competition. Sam Bankman-Fried, da big boss of FTX crypto exchange, he was charged with fraud last year, and Coinbase and Binance, two of the biggest kahuna exchanges, dey face government lawsuits. 😱💵🏛️
Powell, da 42-year-old crypto pioneer, he wen build Kraken into da number two U.S. crypto exchange, right behind Coinbase. But no forget, dis company been in da hot seat for years. Prosecutors been checking out allegations against Kraken and Powell dat wen come from one wrongful termination lawsuit filed against da company in 2019. One former employee wen claim da company wen make money from accounts in countries dat was under U.S. sanctions, and said Kraken’s bank accounts was missing plenty of customer deposits. 🚀🏦🔦
Last year, Kraken wen pay $360,000 fine for settle Treasury Department charges dat it broke sanctions by letting people in Iran trade digital currencies. Then in February, Kraken went shell out $30 million fine to the Securities and Exchange Commission for selling one investment product that the agency said was against securities laws. 💸🚁📜
Da Verge arts group in Sacramento, Powell wen start ’em in 2007. Last year, da group kicked him out of their board of directors, cause he no show up for meetings and he break da organization’s “guiding principles”. And aftah dey gave him da boot, he blocked Verge from using their website, emails, and internal messaging system, and he wen snoop around confidential info stored in those accounts. 😔🚫💔
Powell wen sue Verge last month, claiming his kick out was all wrong and dat he owns Verge’s digital accounts. But Verge’s lawyer, one guy named Phillip Cunningham, he say Powell’s claims are all wala’au. 🐓👨⚖️💥
Last year in September, Powell wen say he going quit as Kraken’s chief, but still stay chairman. He was replaced by Dave Ripley, Kraken’s chief operating officer, who took over da company in March. 💼🔄👨💼
NOW IN ENGLISH
🕵️♂️💰💻 F.B.I. Snooping in the House of the Crypto Exchange Bigwig
Man, there’s a whole lot of drama unfolding, quite a spectacle akin to an episode of Hawaii Five-0, only this time, the star is not McGarrett but the crypto mogul himself, Jesse Powell. The F.B.I. has been thoroughly investigating him, even conducting a surprise search at his house in March, all due to allegations suggesting he hacked and harassed a nonprofit arts group he had established. 🎭🔍💥
This isn’t about some average Joe. This is about Powell, the founder of the cryptocurrency exchange, Kraken. The rumor mill suggests he meddled with the nonprofit’s computer accounts, preventing access to their emails and other forms of communication. Not a pleasant thing, indeed. The F.B.I. and the U.S. attorney’s office for the Northern District of California have been onto Mr. Powell since the fall of last year. 🖥️⚖️🍂
So, what did the F.B.I. do? They skillfully searched Powell’s house in Brentwood, Los Angeles, confiscating all his electronic devices, according to an individual privy to the proceedings. But, hold your horses, because no one has officially accused Powell of any crimes yet. 🏡📱💼
Powell’s lawyer, a gentleman named Brandon Fox, confirms that his client is indeed under investigation. However, he assures that it’s purely focused on the allegations made by the arts group, Verge Center for the Arts, and has “absolutely no connection to Mr. Powell’s employment or his conduct in the cryptocurrency sphere.” He staunchly declares that Mr. Powell “committed no wrong.” 🎨🕹️🦊
Kraken’s representative made it clear that the Verge investigation has nothing to do with the company, and they have no reason to believe that prosecutors are investigating other potential issues. But the F.B.I. and the U.S. attorney’s office have been tight-lipped about whether they are conducting an investigation or not. 🦑🤷♀️🤐
Lately, Federal investigators have been clamping down on Kraken’s rivals. Sam Bankman-Fried, the big boss of the FTX crypto exchange, was charged with fraud last year, while Coinbase and Binance, two of the most significant exchange players, are facing government lawsuits. 😱💵🏛️
Powell, the 42-year-old crypto pioneer, built Kraken into the second-largest U.S. crypto exchange, right behind Coinbase. But remember, this company has been under legal scrutiny for years. Prosecutors have been looking into allegations against Kraken and Powell stemming from a wrongful termination lawsuit filed against the company in 2019. A former employee claimed the firm was making money from accounts in countries that were under U.S. sanctions, and alleged that Kraken’s bank accounts were missing a substantial amount of customer deposits. 🚀🏦🔦
Last year, Kraken paid a $360,000 fine to settle Treasury Department charges that it violated sanctions by allowing users in Iran to trade digital currencies. In February, Kraken shelled out a $30 million fine to the Securities and Exchange Commission for offering an investment product that the agency declared was in violation of securities laws. 💸🚁📜
Verge, the Sacramento arts group, was founded by Powell in 2007. Last year, the group removed him from its board of directors, citing his failure to attend board meetings and violations of the organization’s “guiding principles.” After his dismissal, he blocked Verge from using its website, emails, and internal messaging system, and allegedly accessed confidential information stored in those accounts inappropriately. 😔🚫💔
Powell sued Verge last month, alleging his removal was improper and that he owned Verge’s digital accounts. But Verge’s lawyer, a man named Phillip Cunningham, stated that Powell’s claims were baseless. 🐓👨⚖️💥
Last September, Powell announced he would step down as Kraken’s CEO while remaining chairman. He was replaced by Dave Ripley, Kraken’s COO, who took over the company in March. 💼🔄👨💼
