Jesse Powell, founder of the Kraken cryptocurrency exchange, announced in a statement on X today that he donated $ 1 million to former US President Donald Trump's campaign.
Kraken Founder Jesse Powell Donates $1 Million to Donald Trump
“I am excited to join other leaders in our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election so that the United States can continue to remain a leader in blockchain technology,” Powell said in the X post.
The $1 million donation consisted mostly of Ethereum.
Powell criticized the Biden administration, claiming that it allowed an “unchecked regulatory campaign through enforcement” that weakened US competitiveness in the crypto market.
He named Senator Elizabeth Warren and Securities and Exchange Commission Chairman Gary Gensler as enemies of the crypto industry.
Powell, who resigned as CEO in 2022, continues to serve as chairman of Kraken's board of directors.
Trump recently expressed strong support for the blockchain and crypto industry. Last month, he began accepting campaign donations in various cryptocurrencies and has made several speeches embracing digital assets and bitcoin mining.
This support has earned him the support of prominent crypto figures such as Gemini founders Cameron and Tyler Winklevoss and Ark Invest CEO Cathie Wood.
Wood said at a conference last week that he planned to vote for Trump considering the future of the U.S. economy.
*This is not investment advice.