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Jonathan Silverman, a former Kraken employee hired in April 2017, reportedly sued the cryptocurrency market because he would not have paid for the work that he would have done. The suit seeks compensation in excess of $ 900,000.
According to Bloomberg, Silverman headed Kraken's institutional and commercial sales office in New York and reached an agreement with executive CEO Jesse Powell on $ 150,000. It was also a verbal agreement that Powell would have agreed to pay him 10% of the annual profit of the desk.
Silverman says the trading desk earned more than $ 19 million in three months in 2017 and did not receive the 10% commission or promised additional stock options .
Christina Vee, a spokeswoman for Kraken, reportedly said:
[Silverman] at the same time and in breach of its confidentiality agreement.
In 2015, Kraken announced through a blog that she was ceasing her services in the state of New York regarding the BitLicense controversy, introduced by the Department of Financial Services.
Bloomberg adds that the lawsuits filed by Silverman have left New York City, claiming that the exchange is "a false statement to the public and government authorities that it was not operating in New York."
In fact, he claims that Kraken's over-the-counter transactions took place "almost exclusively in New York". Powell is particularly known for his outspokenness regarding the approach taken by the BitLicense and New York regulators in cryptography.
Last year, when the Attorney General of New York opened an inquiry into crypto-currency trading under the pretext of protecting consumers, citing scams and other security issues. At the time, Kraken countered.
Someone must say what everyone thinks of the NYAG investigation. Placeable bows towards this kind of abuse send the message that he is well. This is not ok. This is insulting. https://t.co/sta9VuXPK1 pic.twitter.com/4Jg66bia1I
– Jesse Powell (@jespow) April 18, 2018
In a statement sent to Bloomberg, David Silver, one of Silverman's attorneys, said that "because some people in the field of cryptocurrency do not believe that the rules apply to them does not mean that that's how things really work. "
The paper added that when Silverman left Kraken, he entered into an agreement with the company to receive a settlement of $ 907,000, which the lawsuit alleged Kraken had "refused" to pay.
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