Usman Salis
Jesse Powell, co-founder of Kraken, donates $1 million in Ether to Donald Trump's 2024 presidential campaign, citing support for pro-crypto policies.
Jesse Powell Backs Trump with $1M Ether Donation
Jesse Powell, the co-founder of Kraken, has made headlines with his recent announcement on X, where he revealed a personal donation of $1 million, primarily in Ether, to Donald Trump’s 2024 presidential campaign. Powell’s move signals strong support for Trump's pro-crypto stance amid increasing regulatory scrutiny.
In his post, Powell did not hold back his criticism of the current administration. He specifically targeted President Joe Biden's regulatory measures, accusing officials such as Senator Elizabeth Warren and SEC Chair Gary Gensler of stifling U.S. competitiveness in the crypto space. Powell emphasized the need for a leader who supports the growth of blockchain technology.
Trump Seen as Pro-Crypto Advocate
Powell’s endorsement of Trump is rooted in the belief that Trump is the only major party candidate in the 2024 election who advocates for pro-crypto policies.
Powell also used the hashtag #freeross, referring to Ross Ulbricht, the founder of the Silk Road online black market, who is serving a life sentence without parole. This hashtag signifies Powell's support for Ulbricht’s release, aligning with a broader movement within the crypto community.
RFK Jr. Pledges to Pardon Ulbricht
Adding to the discourse, U.S. presidential candidate Robert F. Kennedy Jr. recently stated on X that he would pardon Ross Ulbricht if elected in November.
Powell’s significant financial backing of Trump highlights the ongoing political divide over cryptocurrency regulation. His actions reflect a broader sentiment among crypto enthusiasts who seek a regulatory environment that fosters innovation and growth. As the 2024 election approaches, the intersection of politics and cryptocurrency will likely become a critical focal point for both candidates and voters.
Conclusion
Powell’s donation and public statements underline the importance of pro-crypto policies in the upcoming presidential election. With influential figures like Powell and RFK Jr. advocating for significant changes, the future of cryptocurrency regulation in the United States hangs in the balance. The crypto community will be closely watching how these political endorsements and promises influence the landscape of blockchain technology and digital assets.
Usman Salis
