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Fortune

Ben Weiss

Is there a crypto bubble? Yes, says CEO of $15 billion exchange Kraken

Kraken Crypto Arjun Sethi Bitcoin Bullish Barry Silbert Fortune Klarna

Arjun Sethi looks at the camera on stage on a panel. (Credit: Photograph by Maeve Reiss/Fortune)

If there’s one constant in crypto, it’s volatility. Since Bitcoin first emerged in 2009, there have been euphoric upswings and catastrophic declines. Crypto bubbles lead to crypto collapses.

Arjun Sethi, the co-CEO of Kraken, one of the world’s largest crypto exchanges last reportedly valued at $15 billion, believes we’re now in the midst of a bubble. When Fortune’s Jeff John Roberts asked the crypto executive whether that was the case during a panel at the Fortune Brainstorm Tech conference in Park City, Utah, Sethi responded yes—with some nuance.

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