Kraken CEO: Crypto Is 'Cash Under the Mattress'

The transcript discusses the role of businesses in complying with government sanctions, particularly in the context of the Russia-Ukraine conflict. It highlights the cooperation with law enforcement and the challenges faced by Russian users due to sanctions. The discussion extends to the use of cryptocurrency in Ukraine and Canada as a means of financial support during crises. The potential of digital assets as a force for good and a tool for financial freedom is emphasized. Finally, the resilience of Bitcoin amid macroeconomic risks is explored.

What is the company's position on freezing accounts of Russian individuals?

• They will freeze accounts based on public opinion.

• They will never freeze accounts.

• They will freeze accounts only if forced by the government.

• They will freeze accounts immediately.

How does the company ensure compliance with government directives?

• By having a 24/7 compliance team.

• By following only international laws.

• By ignoring government requests.

• By consulting with private analysts.

What challenge do Russian citizens face in accessing global crypto exchanges?

• Lack of internet access.

• Inability to use the SWIFT system.

• High transaction fees.

• Limited cryptocurrency options.

How has Ukraine utilized cryptocurrency during the conflict?

• By raising funds through crypto donations.

• By creating a new national cryptocurrency.

• By banning all crypto transactions.

• By investing in foreign crypto exchanges.

What is a potential benefit of cryptocurrency according to the discussion?

• It is not affected by geopolitical issues.

• It is only useful for speculative trading.

• It serves as a financial safety net.

• It can be easily manipulated by governments.

What is the company's view on the weaponization of the financial system?

• It is always harmful.

• It is a nonviolent response to policies.

• It should be avoided at all costs.

• It is irrelevant to cryptocurrency.

What is the long-term outlook on Bitcoin according to the discussion?

• It is solving real-world problems.

• It is a speculative bubble.

• It is underperforming compared to other assets.

• It is only popular in certain countries.