Kraken is going after smaller, retail crypto traders. That’s where David Ripley, the company’s incoming CEO, sees the future of the crypto exchange.
I spoke with him Wednesday afternoon shortly after Jesse Powell, the company’s outspoken founder and CEO, said he was stepping down. Right now, much of the company’s sales come from transaction fees from its spot and derivatives exchange, which largely targets more experienced, pro traders. Ripley said the company is now focused on developing its platform for retail traders.