Finance

Kraken's Jesse Powell Donates $1M in Crypto to Trump 2024 Campaign

Jun 28, 2024 1 min read

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Jesse Powell, co-founder of the cryptocurrency exchange Kraken, has donated $1 million, primarily in Ether, to former President Donald Trump's 2024 Presidential campaign. Powell cited the need for pro-crypto policies and criticized the current administration's regulatory approach, which he believes diminishes U.S. competitiveness in the global crypto market. He specifically targeted Senator Elizabeth Warren and SEC Chair Gary Gensler for their stringent regulatory measures, arguing they hinder innovation in the industry.

Trump, who has recently started accepting campaign donations in various cryptocurrencies, has expressed strong support for blockchain and digital assets. Powell's donation underscores a growing frustration within the crypto community over what they perceive as restrictive regulations under President Joe Biden's administration. Powell, who stepped down as CEO in 2022 but remains chairman of Kraken's board, aims to influence the policy landscape in favor of the crypto industry through his support for Trump.

#tech #politics #cryptocurrency #entrepreneur #business #business-leaders #bitcoin

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