Jesse Powell, the co-founder of Kraken, has donated $1 million, primarily in Ether, to Donald Trump’s 2024 presidential campaign. Powell announced his support on X, highlighting Trump as the only major party candidate advocating for pro-crypto policies.
Powell expressed his enthusiasm for Trump, stating, “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.”
Criticizing the current administration, Powell pointed to President Joe Biden’s regulatory approach towards the crypto industry, specifically mentioning Senator Elizabeth Warren and SEC Chair Gary Gensler for their actions that he believes have harmed U.S. competitiveness. Powell said, “For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others.”
Rudy De La Cruz, a partner at BasedVC, noted a sense of optimism in the crypto industry, referencing a Grayscale survey that showed concerns among Americans about crypto regulation. He mentioned that support from organizations and wealthy crypto entrepreneurs for pro-crypto candidates is not surprising.
Powell also included the hashtag #freeross in his post, referring to Ross Ulbricht, who is serving a life sentence for creating the Silk Road online marketplace. Powell’s post aligns with other pro-crypto stances, including his support for Trump and advocacy for Ulbricht’s release.
Additionally, U.S. presidential candidate Robert F. Kennedy Jr. has stated that he would free Ulbricht if elected, arguing that Ulbricht’s sentence is excessively harsh for his role in hosting an e-commerce platform where illegal activities occurred. Kennedy has pledged to sign a petition for Ulbricht’s release and encouraged others to do the same.
