Santori made the announcement on Wednesday and said he would remain at the company in a senior advisory role, amid rumors that he will soon seek a position in the Trump administration.
Kraken’s Chief Legal Officer Calls It Quits After Five Years
Marco Santori, chief legal officer at cryptocurrency exchange Kraken announced his resignation on Wednesday, took a jab at SEC Chairman Gary Gensler, and appeared to extend an olive branch to regulators by calling them “lovely people,” giving credibility to rumors that he will soon be vying for a spot in the Trump administration.
The veteran lawyer led Kraken’s legal department for nearly five years and said he will continue on as a senior advisor with the firm, helping Kraken build a “global advisory council.”
Santori gained prominence in 2017 when he championed the simple agreement for future tokens (SAFT) project during the initial coin offering (ICO) boom. SAFT was billed as a legal framework for compliant token sales. Santori was a partner at law firm Cooley LLP at the time and eventually landed the top legal role at Kraken in 2020.
He touted Kraken’s many legal accomplishments in his farewell message, and acknowledged the challenges around debanking and fighting anti-crypto politicians who wanted to use Kraken employees as “political punching bags.” But perhaps the most unexpected part of his swan song was when Santori gushed about how “lovely” the regulators he worked with had been.
“I am sorry to disappoint the revolutionaries in the crowd, but I have now met every financial regulator on the planet and can say with perfect authority that they are, by and large, lovely people,” Santori said. “Okay, maybe not that one guy,” he added – an apparent reference to SEC Chairman Gary Gensler.
The surprisingly positive comment about regulators gives some credence to the Trump rumors. Bitcoin.com reached out to Santori to ask if he was indeed interested in a role within the incoming administration, but he had not responded at the time of publication.
Details around Santori’s new advisory role remain murky, but Kraken co-CEO Arjun Sethi clarified that Santori’s position will not be merely honorary in nature.
“When people leave a company and mention they’ll be advising, it’s often just a polite exit note, but that’s not the case here,” Sethi posted on X. “I’m excited to build our senior global advisory council with him and to continue learning from his guidance as we move forward together.”
