#PowellRemarks

There are two notable Powells related to Binance: Jerome Powell, the Federal Reserve Chair, and Jesse Powell, the CEO of Kraken, a rival cryptocurrency exchange.

Jerome Powell's Remarks

Jerome Powell has made comments about Bitcoin, comparing it to gold as a store of value. This shift in perspective has sparked enthusiasm in the cryptocurrency market, with Bitcoin's price surging to nearly $100,000. Powell's comments suggest a growing recognition of Bitcoin's role in the financial system, but he emphasizes that it's not a replacement for traditional currencies ¹.

Jesse Powell's Remarks

Jesse Powell, on the other hand, has made remarks about offshore cryptocurrency regulation, criticizing the inconsistent approach of US regulators. He expressed frustration that authorities often ignore issues with offshore companies, while scrutinizing domestic ones. Changpeng Zhao, Binance's CEO, responded to Jesse Powell's comments, arguing that distinguishing between "on-shore" and "off-shore" companies is self-centered and unhelpful to the industry ².