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Kraken founder promoted Custodia’s doomed bank and stablecoin

Kraken CEO Jesse Powell has supported shadowy stablecoin Tether since 2018. Curiously, he supported Custodia and its doomed projects, too.

What’s up with TrueUSD and the rest of TrustToken’s stablecoins?

The market cap of TrueUSD recently doubled to over $2 billion, but the stablecoin is still surrounded by opaque ownership and behavior.

Fed chair Jerome Powell warned of more inflation pain but claimed that stablecoins will have a part to play in the financial system.

Heka sub-fund Elysium Global Arbitrage Fund buys Tether from one exchange and sells it on another, taking the difference in the spread.

Sun’s TUSD has seen its market cap go from $750M to nearly $1.2B despite it not being able to get regular attestations from its auditor.