Kraken Co-Founder Jesse Powell Donates $1M, Mostly in Ether, to Donald Trump

cryptonews.com:

Jesse Powell, one of the co-founders of the popular cryptocurrency exchange Kraken, has announced a donation of $1 million to Republican presidential candidate Donald Trump, with the majority of the contribution made in the form of Ether.

“I am excited to join other leaders from our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election,” he wrote in a post on X.

Powell added that the crypto industry has faced persistent challenges from figures such as Elizabeth Warren and Gary Gensler, who have been critical of the industry.

He also mentioned that despite bipartisan efforts in Congress to establish clear regulations, the Biden administration has been relatively passive, allowing a regulatory environment characterized by enforcement rather than clear guidelines.

“This approach is diminishing US competitiveness as other major economies around the world advance clear rules to regulate digital assets.”

I just personally donated $1m (mostly #ETH) to @realDonaldTrump.

For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others. Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has… pic.twitter.com/Ksxf3P2oCb

— Jesse Powell (@jespow) June 28, 2024

Powell’s donation aligns him with other prominent figures from the crypto community who have been actively supporting Trump’s campaign.

The Winklevoss twins, founders of the Gemini cryptocurrency exchange, also revealed their contributions of $1 million each to Trump’s campaign.

However, reports suggest that a portion of their donations was later refunded to comply with donation limits imposed by campaign finance regulations.

Throughout his election