Reminder: Kraken is delisting Moons in Germany - and betraying an entire country

And I tell you one thing: Delisting Moons has nothing to do with central authorities. If you think you are safe outside of Germany or this is a Moon exclusive problem, you might be wrong.

What is happening? In short: Kraken announced a partnership with DLT Finance, which essentially takes over their entire business in Germany. The reasons for this were not honestly communicated; most likely they are due to central authorities.

For this, DTL Finance, "a brand of a leading BaFin-licensed digital asset brokerage" will take custody of all assets owned by users, they are also delisting a number of coins, including Monero, Nano and Moons. Full list

They keep talking about this as if it was an upgrade, however the truth is: They have completely given up the german market. Another completely unknown company takes over and is allowed to use their name and hold their customers assets.

It's absolutely clear they delisted Monero because central authorities asked them to. But what about Moons? If you say this was also because of regulations, I tell you this is total nonsense. Here are a few absolute shitcoins they continue to support:

• Shiba Inu
• PEPE
• ApeCoin
• BONK
• ALICE - "My Neighbor Alice" (Whatever the hell this is?)

Please don't feel attacked if you hold something from this list - I just want to make to make one point clear: They keep many useless tokens that were created in far far less legit ways than Moons, and they apparently have no problems to keep pure meme coins without any use case.

Also, please take note that as far as I know, all other exchanges keep fully operational in Germany - no other CEX has thrown german customers under the bus. Only Kraken.

The only reason they got rid of Moons during this transition is: Because they had the chance to do so. They didn't care enough to keep them.

But the entire situation is more than worrying for all Kraken users, not only for german Moon holders. We have seen governments increasing pressure on crypto exchanges - and I'm heartbroken to see Kraken is among the first to betray their users and give in. This might only be the start - they are ready to delist projects and limit users - and this can eventually hit everyone. Not only for Moons, but for any crypto asset.

Over one year ago, I put the Kraken logo on MoonPlace. I know it was meaningless, but for me this was a sign of my friendship and trust. It's still up, but I'm looking forward to remove it in the coming days. I know this is an equally meaningless gesture, but for me this marks an end of a great era in crypto. And it will also mark the end of me recommending Kraken to new crypto investors.

https://preview.redd.it/f4usdr8f4z1d1.png?714&format=png&auto=webp&s=bf71fe8b8f053878c35a69fb9d226863d0883bf9

Shame on you u/krakensupport , shame on you u/jespow

Trying to respond to two points I already see coming:

"It doesn't matter who is the custodian, don't hold at CEX" - No, it matters a lot. If you know me, you know I'm an advocate of self-custody. But if you want to trade on a CEX, you are required to hold a certain liquidity there. And to me it also matters a lot that some random ass company now takes over this part. And if you ever want to cash out, you also have to trust a CEX briefly.

"Just trade on a DEX" I know how to use a DEX, I provided Moon liquidity for a long time on Sushi. But losing access to the MOON/USD pair at Kraken will be terrible; It is by far the most liquid Moon market. I'd even say its pure existence suppresses DEX liquidity, as many people prefer to trade on CEX.