Kraken’s Jesse Powell donates $1M in crypto to Trump campaign

Josh O"Sullivan2 hours agoKraken’s Jesse Powell donates $1M in crypto to Trump campaignJesse Powell, the Kraken co-founder, backs Trump with $1 million in Ether, supporting pro-crypto policies against regulatory crackdowns.998 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksJesse Powell, the co-founder of Kraken, has announced on X that he has personally donated $1 million, mostly in Ether, to Donald Trump’s 2024 presidential campaign.

Powell emphasized his support for Trump as the only major party candidate currently advocating for pro-crypto policies.“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 so the United States can continue to remain a leader in blockchain technology.”

Related: Biden-Trump debate: Crypto goes completely unmentionedPowell critiques Biden administration

Powell criticized current President Joe Biden’s regulatory approach toward the crypto industry in the post.

Powell accused officials like Senator Elizabeth Warren and Securities and Exchange Commission (SEC) Chair Gary Gensler of diminishing United States (U.S.) competitiveness.“For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others.” 

Related: Donald Trump says his campaign will accept cryptoPowell: Pro-Trump, pro-Ulbricht

Powell believes that Trump’s candidacy in the upcoming 2024 presidential election offers a chance for the U.S. to lead in blockchain technology.“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 so the United States can continue to remain a leader in blockchain technology.”

The post, which included a photo of Powell and Trump reinforcing the alliance, also included the hashtag #freeross, a reference to Ross Ulbricht.

Ulbricht was sentenced to life in prison without parole plus 40 years in 2015 for creating and operating the online black market Silk Road, which was used to purchase goods and services anonymously.

Related: Donald Trump doubles down on crypto support at fundraiser event: ReportRFK Jr. to pardon Ulbricht if elected

On June 20, U.S. presidential candidate Robert F. Kennedy Jr. stated in an X post that he would free Ulbricht if elected in November.“Ross Ulbricht has been in prison far too long. Two life sentences for hosting an e-commerce platform. Yes, illegal activity took place there, but come on.” 

After promising to pardon Ulbricht if elected president, RFK Jr. stated that he would be signing the petition to ask for his release and encouraged readers to do the same.

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