Kraken Co-Founder Jesse Powell Donates $1 Million to Trump Campaign

Jesse Powell, the Kraken co-founder, has pledged $1 million in mostly Ether to Trump’s presidential campaign. His donation symbolizes the growing support Trump witnesses from the crypto community in the US thanks to his endorsement of the digital asset industry and promise to make it easier for crypto companies to operate.

“I just personally donated $1m (mostly #ETH) to @realDonaldTrump,” said Powell in an X post. He iterated how the democrats and the SEC under democratic leadership prevent crypto innovation from taking off due to their active efforts in subduing it. The Kraken co-founder also mentioned names like President Joe Biden, Senator Elizabeth Warren, and the Securities and Exchange Commission (SEC) chair Gary Gensler while speaking about the figures crippling crypto innovation.

“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 stood by and allowed a campaign of unchecked regulation by enforcement.”

And their actions let other countries steer ahead in developing their crypto ecosystems while the US takes a back seat. This sentiment is echoed by many crypto founders and enthusiasts, with many coming out in support of Trump as he has made the issues faced by the US crypto ecosystem a significant part of his campaign.

Statements like his wanting to be “the crypto president” and make the US a “leader in the field” have impressed many in the country. Tech leaders and VCs, too, who were considered left-leaning, have shown Trump support because of this. Nevertheless, the rest of the country’s voters remain divided between the presumed presidential nominees due to various other issues.

Alongside Trump’s pro-crypto statements, he has also mentioned that he would pardon Ross Ulbricht, the individual who founded and operated the darknet marketplace Silk Road. This platform had links to cryptocurrency as illicit services and products were availed using it. Powell also supports Ulbricht’s freedom, making it clear as he ended his tweet about the $1 million donation with the “#freeross” hashtag.

Image by Sambeet D from Pixabay

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