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Kraken isn’t keeping $XMR for the "fees." The math doesn't check out. The Revenue Myth: XMR fees are ~3% of their revenue ($300k/day vs $2.5B annual target). It’s pocket change for a global exchange. The $20B Elephant: Kraken is chasing a $20B IPO. Citadel and other lead investors won't let a privacy coin jeopardize a multi-billion dollar public exit. The SEC Wall: You can’t go public on the NYSE with an asset that the SEC labels as a "black box" for AML. Precedent: They already dumped XMR in the EEA and Canada to play nice with regulators. Fiduciary duty to shareholders and the IPO payout wins every time. They'll drop XMR the second the SEC makes it a condition for the listing.