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Kraken: Jesse Powell has donated $1 million in crypto to Donald Trump’s campaign

Jesse Powell, co-founder of the crypto-exchange Kraken, announced on X that he donated 1 million dollars in crypto to Donald Trump’s election campaign. The magnate of cryptocurrencies joins other leaders in the sector to support and vote for the USA candidate in the 2024 presidential elections. 

Kraken: Jesse Powell and his $1 million crypto donation to Trump’s campaign

Jesse Powell, co-founder of Kraken, announced on X that he donated 1 million dollars in crypto to Donald Trump’s election campaign. 

“I have just personally donated 1 million dollars (mostly ) to @realDonaldTrump. For too long the cryptocurrency industry has been attacked by Elizabeth Warren, Gary Gensler, and others. Despite bipartisan efforts in Congress to put clear rules in place, Biden’s White House has stood by and allowed an unchecked regulatory campaign. This approach is reducing the competitiveness of the United States, while other major economies around the world are introducing clear rules to regulate digital assets. I am excited to join other leaders in our community to support the only major party candidate favorable to crypto in the 2024 presidential election, so that the United States can continue to remain a leader in blockchain technology.”

Specifically, a large part of Powell’s donation was made in Ethereum (ETH). The co-founder of Kraken stated that his support for Trump is linked to the only hope for the crypto sector to obtain clear regulation in the United States. 

In fact, Powell has declared his intention to join other leaders in the sector in voting for the USA candidate in the upcoming 2024 presidential elections. 

Kraken: Powell and the donation to Trump to support the crypto sector together

In his speech, Powell of Kraken also wanted to mention some names that, in recent years, have attacked the crypto sector. 

“Elizabeth Warren, Gary Gensler e altri”, ma anche la “Casa Bianca di Biden” are for Powell the culprits of an approach that makes the crypto and blockchain sector in the USA increasingly less competitive compared to other countries. 

In fact, just last year, Kraken had to fight real battles against the Securities and Exchange Commission (SEC) of the USA.

For example, in February 2023, the crypto-exchange had to close its crypto staking operations, following charges from the SEC. The SEC’s accusation was that the crypto-exchange was providing an unregistered security investment service.

Last November 2023, then, came the new complaint from the SEC accusing Kraken of operating as an unregistered securities exchange. This time, the crypto-exchange decided to react, starting to defend its position in court.

In any case, the latest news from Kraken talks about the preparation of the crypto-exchange for a funding round of 100 million dollars, in view of a possible IPO. 

More and more crypto leaders support Trump

Jesse Powell di Kraken is not the first leader in the crypto sector to make his donation and express his support towards Donald Trump. 

In fact, just last week, even the two twin founders of the crypto-exchange Gemini, Tyler and Cameron Winklevoss donated 2 million dollars in Bitcoin to the pro-crypto candidate of the USA.

Here too, the twins argue that voting for Trump would put an end to the war on crypto promoted and implemented by the Biden administration. 

In the meantime, Donald Trump has renewed his position on Bitcoin, emphasizing the crucial importance for the United States to take a leadership role in the cryptocurrency sector.