Kraken’s chief operating officer said crypto’s future will be based on self-custody and clear regulatory standards. Dave Ripley, currently the crypto exchange’s COO and named to replace CEO Jesse Powell when he steps down, told CoinDesk TV’s “First Mover” that Kraken is a supporter of self-custody.

Asked how his centralized exchange (CEX) could be trusted after the implosion of rival exchange FTX, he responded: “One of the things that is really critical to this system is that it is the only place in the world where you can actually take control [and] own ownership of your own assets in a digital format.”