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Allow me to explain how an exchange works. Kraken provides a marketplace for buyers and sellers (like ebay). Where parties agree on a price, we facilitate the trade (atomic balance swap). We have zero risk/exposure to the assets swapped (like ebay).

5:53 AM · Jan 26, 2018Twitter Web Client

Replying to

@jespow

@ummjackson

and

@krakenfx

Too bad you allow illegal wash trading... on a US market... I've reported this to your employees and they didn't care. This is why I warn people against Kraken now, any exchange that allows wash trading is fraudulent. youtube.com/watch?v=wz-ziP

4CatGuy

@petcal55

Jan 26, 2018

as the guy on here says : #Ack!! I don't pretend to understand wash sales, somethings just go right over my feeble head, but, no regulations in crypto can have unsavory side effects. Kharma will reign supreme, as always(after a few lose millions, sadly)..You've been warned

Replying to

and

If your exchange was legitimate you'd disable the Tether trading pair until they provide audits, which are promised by Tethers whitepaper AND their website. Listing fraudulent coins makes your exchange an accessory.

Jesse Powell

@jespow

Jan 26, 2018

Nobody is forcing anybody to buy Tether. We provide price discovery, which is an important function in the market. You are welcome to take out a short.

Show replies

Replying to

and

Exchanges have a responsibility not to list obvious fraudulent/illegal coins. Tether is flagrantly a fraudulent token. Even if you ignore everything else, they do not provide promised regular audits... and no, a shareholder looking at their bank balance is not a fucking audit.

Replying to

and

I'd love to hear about why you give Tether preferential treatment with regards to fees, by the way. Because Tether fraud is the only coin on your exchange where fees go to zero. Great for wash trading.

Replying to

and

LOL DOGE guy. As if Kraken is the biggest issue in Crypto.

Replying to

and

Zero risk/exposure? So i guess you don't consider custody over hundreds of millions of funds exposure or risk. Your statement would *mayve* be true if everyone controlled their own private keys

Replying to

and

So when does the usd/usdt wash-trading bot get turned off?