In a major prop up to presidential candidate Donald Trump, the co-founder of Kraken Jesse Powell announced a hefty personal donation of $1 million, primarily in Ether, to Trump’s 2024 Presidential campaign. Powell expressed strong support for Trump, highlighting him as the sole major party candidate advocating for favorable policies towards cryptocurrencies.
“I just personally donated $1m (mostly #ETH) to @realDonaldTrump,” Powell declared in a tweet, emphasizing his belief that Trump’s stance on crypto could benefit the industry.
Powell criticized current regulatory efforts under President Joe Biden’s administration, accusing figures like Senator Elizabeth Warren and SEC Chair Gary Gensler of closing innovation with stringent regulations.
“For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others,” Powell asserted, suggesting that these measures were harming America’s competitive edge in the global blockchain race.
Powell’s donation and endorsement signal a significant alignment of the crypto community with Trump’s candidacy. His tweet, which featured a photo of himself alongside Trump, underscored his commitment to supporting a candidate who he believes can steer the U.S. toward becoming a leader in blockchain technology.
The inclusion of the hashtag #freeross also drew attention, referencing Ross Ulbricht, the founder of Silk Road, who Powell seems to advocate for, given Ulbricht’s controversial life sentence. Donald Trump has also announced his plan to pardon Ross Ulbricht if he wins the upcoming November election.
This bold move by Powell not only underscores the increasing intersection of politics and cryptocurrency but also sets a precedent for other industry leaders to take a stance in the upcoming election. As the 2024 Presidential race heats up, Powell’s donation is likely to spark further debate and scrutiny over the future of crypto regulation in the United States.
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