YEREVAN (CoinChapter.com) — Jesse Powell, co-founder of Kraken, has made a significant donation to Donald Trump’s 2024 presidential campaign. He announced on X that he contributed $1 million, mostly in Ether. Powell supports Trump as the only major party candidate advocating for pro-crypto policies. He stated,
“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 President Joe Biden’s approach to cryptocurrency regulation. He specifically mentioned Senator Elizabeth Warren and SEC Chair Gary Gensler, accusing them of harming U.S. competitiveness in the crypto market.
“For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others,”
Powell stated.
The crypto community has responded to Powell’s donation with various opinions. Rudy De La Cruz, general and strategic partner at BasedVC, noted that crypto entrepreneurs supporting pro-crypto candidates is expected. He said,
“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 is among several prominent figures in the crypto community supporting Trump’s campaign. The Winklevoss twins, founders of the Gemini exchange, announced that they each donated $1 million to Trump. However, some of their contributions were reportedly refunded to comply with legal donation limits.
Trump’s campaign has accepted cryptocurrency donations, appealing to the crypto community.
Powell’s post included the hashtag #freeross, showing support for Ross Ulbricht, creator of the Silk Road online marketplace, who is serving a life sentence without parole plus 40 years. U.S. presidential candidate Robert F. Kennedy Jr. also expressed support for Ulbricht. On June 20, Kennedy Jr. posted on X, promising to pardon Ulbricht if elected.
“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,”
Kennedy Jr. said. He also mentioned his plan to sign a petition for Ulbricht’s release and encouraged others to do the same.
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