Kraken Co-Founder Jesse Powell Donates $1M in Ether to Support Trump Campaign

Jesse Powell, co-founder of Kraken, announced on X his $1 million donation in Ether to Donald Trump’s 2024 presidential campaign. Powell emphasized Trump as the only major pro-crypto candidate, criticizing the current administration's regulatory approach to the crypto industry.

Jesse Powell of Kraken Donates $1M in Ether to Trump, Criticizes Biden's Crypto Policies

As Cointelegraph reported, Jesse Powell, the co-founder of Kraken, has disclosed on X that he has contributed $1 million, primarily in Ether, to Donald Trump's 2024 presidential campaign.

Powell underscored his endorsement of Trump, the sole 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.”

Powell criticized the regulatory approach of current President Joe Biden to the crypto industry in the post.

Powell accused officials such as Securities and Exchange Commission Chair Gary Gensler and Senator Elizabeth Warren of undermining the United States' competitiveness.

“For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others.”

Rudy De La Cruz, general and strategic partner at BasedVC, stated to Cointelegraph that the crypto industry is "characterized by an atmosphere of optimism."

“According to a Grayscale survey, this is an issue of concern among Americans, though voters are split. [...] Organizations and wealthy crypto entrepreneurs supporting candidates who are friendly to the crypto industry is not that surprising.”

Powell Advocates for U.S. Blockchain Leadership with Trump’s Candidacy, References Ross Ulbricht's Case

Powell maintains that the United States has the opportunity to establish itself as a leader in blockchain technology through Trump's candidacy in the forthcoming 2024 presidential election.

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

In 2015, Ulbricht was sentenced to life imprisonment without parole and an additional 40 years for creating and operating the Silk Road. This online black market enabled users to purchase products and services anonymously.

Presidential Candidate RFK Jr. Pledges to Release Ross Ulbricht if Elected, Calls for Petition Support

On June 20, Robert F. Kennedy Jr., a candidate for the United States presidency, declared in an X post that he would release 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.”

RFK Jr. also announced that he would sign a petition to request his release and urged his readers to do the same.

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