Kraken Closes Its Headquarters In San Francisco: Report

Kraken closes its headquarters in San Francisco due to safety concerns according to the CEO of the platform so let’s read more today in our latest crypto news.

Kraken’s CEO decided to close the headquarters of the company in San Francisco after blaming the city for being incapable of ensuring public safety. The CEO of Kraken Jesse Powell released a statement that Kraken closes its headquarters office in San Franciso after many employees were attacked, harassed, or robbed on their way to work. The statemetn first appeared on the internet in a Tweet by Richie Greenberg, and since then it attracted numerous responses in the Twitter community regarding the safety issues in a city where a lot of companies are based.

According to the words of Powell, San Francisco’s problems are becoming a public safety issue with crime and homelessness rising dramatically. The main issue pointed to the District Attorney Chesa Budiin that hasn’t done much to criminalize and penalize the law offenders:

“San Francisco is not safe and will not be safe until we have a DA who puts the rights of law abiding citizens above those of the street criminals he so ingloriously protects.”

Kraken’s decision came after Coinbase announced the shut down of the headquarters in the city by 2022 and last year, the company attributed the decision to a commitment to a decentralized workplace which means that no headquarters was assigned to a location and this practice is also embraced by Binance that operated a remote global company since the launch. The CEO was stating his socio-political views on Twitter and opposed Canada’s response to the Freedom Convoy protest and noted that the government’s decision to seize the crypto donations s insane.

When the Vice PM of Ukraine asked crypto exchanges to halt servicing Russian customers, Powell noted that BTC is the embodiment of libertarian value and stated that despite his utmost respect for Ukraine people, Kraken can’t freeze accounts of Russian clients without a legal requirement.

As recently reported, Kraken integrated the lightning network officially today and the second layer protocol is growing and gaining importance as we speak  The traders now have an instant and cheap way to move BTC on and off the platform according to Kraken’s announcement. As Kraken integrated the Lightning Network, it Is important to know what exactly it represents. What can happen once the clientele tries out the LN transactions? The second layer solution can perform millions of operations per second for a fraction of a penny and offer the final settlements. In using it there are also privacy gains, huge innovation, and cash-like experience.