Jesse Powell, Kraken’s Chief Executive Officer, had a heated conversation on Twitter with Mike Dudas, the Founder of The Block, with the former accusing the publication of presenting ‘factually inaccurate statements’ in an article that attacked Kraken for reporting false trading volume.
The article in question, published on March 13, cited an anonymous trader who allegedly revealed how an institutional account executed a stop order ‘well below’ the set price, reported u.today. The report also stated that 10k worth of Ethereum [ETH] was adequate for the asset’s price to dip by 4%, which could be an indication of Kraken not reporting its true trading volumes.
In response to these accusations, Powell claimed that the assumptions and conclusions reported in the article were factually incorrect. The CEO said that the anonymous trader behind the tip-off did not have any basic understanding of the market. Powell also called out the article for ‘misleading information,’ citing the ’10k Ethereum’ comment as one that would make inexperienced readers believe that $10,000 could affect the price of the second largest cryptocurrency.
The CEO demanded an apology and said,
“I’m defending myself. You hit first, and you hit without provocation. You turned a one-off “tip” in to a hit piece without so much as taking a comment from us. Now we’re getting to euphemisms I see.. your “media piece” is an attack. I’ll accept an apology.”
Powell also listed the “false” comments made in the article in a tweet,
Previously, Powell had accused Dudas of being “an epic Neutrino apologist” for trying to hush the #DeleteCoinbase conspiracy. Despite The Block writer Larry Cermark claiming that Coinbase had no influence on their reportage, Powell did not buy it.
“Your coverage of Coinbase’s murderous past looks like coverage of a stop loss. Your coverage of a stop loss looks like coverage of a murderous past.”
Dudas previously admitted to having ‘multiple good friends’ at Coinbase. The prominent exchange had also invested in The Block, he said.
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