Let this be a lesson again: there are no good guy exchanges

“You either die a hero or live long enough to be come a villain”

• Satoshi Nakamoto

We’ve all seen the news regarding the SEC and kraken for staking purposes. Yeah yeah the SEC is evil and they just want their money, but they seem to have a point with kraken by saying they are not following through on their promises of staking. Gensler himself came out and said that they don’t have an issue with staking if the pooled assets are being used transparently for that and the payouts are being allocated properly. Apparently, this was not the case with crowd favorite, kraken.

CEXes are businesses. They don’t care about you because you’re just another customer. They may claim to hold certain values or the ethos of decentralization and transparency in high regard, but time has proven that people are corruptible and fallible. The best thing you can do is take ownership of your coins in your own wallet and stake from there. If you can’t, do some homework and find a way to do so. If you don’t have enough coins, save up $$ until you do. Where there’s a will, there’s a way.

TL:DR- SEC sucks but kraken looks like they were being less than honest about how their “staking” options were being run. Don’t trust exchanges because they’ve proven time and time again they can’t be trusted. The point of crypto is to trust yourself and no middleman. Stop using intermediaries and use your brain.