Kraken founder donates USD $1 million in Ether to Donald Trump’s campaign – DiarioBitcoin
By Hannah Perez
Kraken’s former CEO is supporting Republican candidate Donald Trump’s campaign. He donated cryptocurrencies, mostly Ethereum.
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- Kraken’s Jesse Powell donated cryptocurrency to Donald Trump’s campaign
- He says he is the only candidate from a major party with a pro-cryptocurrency stance
- The Winklevoss brothers also recently donated Bitcoin to Trump
Jesse Powell, the co-founder of the cryptocurrency exchange Krakenis supporting Republican candidate Donald Trump in his 2024 presidential campaign.
In a publication in X On Thursday, Powell announced to his followers that he has donated USD $1 million, the majority in Ethereum (ETH), he said, to the Trump campaign. The former CEO of Kraken He shared a photo with the politician and said that he was the only candidate from a major party with a pro-cryptocurrency stance.
“I am excited to join other leaders in our community to unite behind the only major party candidate who supports crypto in the 2024 presidential election, so that the United States can continue to be a leader in blockchain technology.”Powell wrote.
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
Explaining his reasons, he stated that the administration of current President Joe Biden has allowed a “unbridled regulatory campaign through law enforcement” which is weakening the competitiveness of the United States against other major economies in cryptocurrency regulation.
Powell also cited names such as Senator Elizabeth Warren and Securities and Exchange Commission (SEC) Chairman Gary Gensler as adversaries of the cryptocurrency industry.
Trump has become a pro-cryptocurrency candidate during his 2024 campaign. On repeated occasions, the real estate magnate has professed his support for Bitcoin and the asset class, assuring that if he reaches the White House he will do everything possible to make the US a leader in the field of cryptocurrencies.
The Republican also began accepting cryptocurrency donations and has said he wants all bitcoins be mined in the country amid a series of promises. However, despite those comments, he has not yet outlined a concrete regulatory plan for the domestic cryptocurrency industry. This was also not a topic during yesterday’s presidential debate.
Powell joins other digital asset industry figures expressing support for Trump. A few days ago, the Winklevoss twins, founders of the cryptocurrency exchange Geminiannounced a donation of USD $1 million in Bitcoin each one for the Republican campaign; although part of that amount was reimbursed to comply with the legal limit.
During his time as CEO of KrakenPowell faced several legal challenges in the US. In 2022, the Department of Justice fined the exchange for violate sanctions by allowing users from Iran, Cuba and Syria to trade on its platform. The platform also faced a dispute with the Tax Service and was sued by the SEC last November.
Powell I quit as CEO in 2022, but continues to serve as chairman of the board.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be appropriate for retail investors, as the total amount invested could be lost. Check the laws of your country before investing.
