🚨 Latest news! The US SEC sued crypto exchange Kraken alleging it violated securities laws and mixed customer funds with company assets. 😱

What happened?

- Kraken is suspected of operating as an unregistered securities exchange, broker, dealer and clearing agent since 2018.

- The company made nine-figure profits by "supporting the illegal buying and selling of securities crypto assets."

- These allegations are similar to those faced by Coinbase and Binance last June.

What is Kraken's response?

- There has been no official statement from Kraken, but Binance and Coinbase denied the allegations and accused the SEC of misinterpreting securities laws.

What impact will this have on Kraken customers?

- Poor internal accounting practices put customer funds at risk, including paying operational costs using accounts containing customer assets.

💬 What do you think about this lawsuit? Will Kraken win or lose? Come on, discuss it in the comments column!