Jesse Powell, co-founder and chairman of Kraken, responded to the SEC's accusation of operating as an unregistered cryptocurrency exchange by saying, "The big bad wolf is back in America. I thought we spent $30 million in February to address all concerns. The message is clear: $30 million buys you 10 months before the SEC comes knocking again. Lawyers can do a lot with $30 million, but the SEC knows a real fight might take over $100 million and precious time. If you can't afford it, get your crypto company out of the US market."