Founder and CEO of the cryptocurrency Kraken is stepping down. Kraken faces an investigation by the Treasury Department over potential violations of U.S. sanctions for allegedly allowing Iranian users to exchange crypto on the platform, which is a violation of international sanctions against the regime. Powell also came under scrutiny for controversial comments he made about race and gender on the company’s Slack, and he stated that those who disagreed with him could leave the company. Powell will be replaced by David Ripley, the Chief Operating Officer. Powell will remain at Kraken as chairman.