Jesse Powell confirmed that he has donated a significant amount of money to support Donald Trump in the upcoming US presidential election.
Kraken is a US-based, renowned digital asset trading platform, known for its robust security measures and wide range of supported cryptocurrencies. Kraken offers trading services for both individuals and institutions, with an emphasis on transparency and regulatory compliance in the crypto space.
On June 28, 2024, Jesse Powell, co-founder of The Kraken, announced a personal donation of $1 million, primarily in Ethereum, to Donald Trump’s campaign.
He expressed concern about regulatory pressure on the crypto industry from top US officials such as Elizabeth Warren and Gary Gensler.
Powell criticized the Biden administration for not implementing clear rules for this innovative sector. He argued that this damaged American competitiveness.
The Kraken co-founder also emphasized his support for Trump as the only major party candidate in the 2024 presidential election who is pro-crypto, aiming to maintain US leadership in blockchain technology.
Currently, many leading Bitcoin and crypto proponents are supporting former US President Trump, hoping that he will pass bills supporting the adoption of cryptocurrencies within US jurisdiction.
Donald Trump and Crypto
Former US President Donald Trump generally maintained a skeptical attitude towards cryptocurrencies and digital assets during his presidency from 2017 to 2021. He expressed concern about their potential for illegal activities and volatility. However, during his tenure he did not take any significant regulatory action specific to the sector.
In 2024, Trump dramatically changed his position on the crypto sector and started accepting crypto donations for his election campaign. He has made several crypto-friendly statements in the past three months to strengthen his pro-crypto image.
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