New Kraken CEO says FTX and SBF are “complete scammers, thieves”.

“I think that’s where it boils down to with all the information we have [and] This bankruptcy report, which has now been released, states that FTX and SBF are complete fraudsters – not just fraudsters, but thieves,” said Ripley, who also served as Kraken’s COO for over six years wealth.

Last week, cryptocurrency exchange Binance and its CEO Changpeng “CZ” Zhao appeared to have had the idea of ​​helping FTX. But after due diligence, Binance and CZ exited, citing issues at FTX that were “outside of our control or ability to help.”

Reports soon circulated that FTX was approaching Kraken as a potential partner, but Ripley notes that a rescue was never in sight.

“We consistently receive more inbound takeover requests than I can track myself, but at no time has there been a legitimate discussion about acquiring FTX,” he said. “It wouldn’t make sense for Kraken on several fronts.”

Ripley also claims that Kraken has no exposure to FTX, Digital Currency Group (DCG), or any other SBF-affiliated entity.

Kraken is currently cooperating with law enforcement, Ripley said, after someone behind a series of “unauthorized transactions” moved funds from FTX to Kraken after FTX filed for bankruptcy. Kraken knows said it knows the person’s identity but Ripley declined to share the disclosure.

Looking ahead, Ripley sees promise in centralized exchanges that issue “proofs of reserve” that would theoretically give users visibility into assets and liabilities on the exchanges in use. This is something Kraken has been doing for years, Ripley said.

Ripley also believes self-custody or personal possession of cryptocurrency is important. “Self-sufficiency is on the rise,” he said.

But for Ripley, “the centralized exchanges will always play a role…. to build [a] Bridge from the old traditional financial system, from fiat to crypto.”