Regulation
Former Kraken CEO Jesse Powell donates $1 million in Ethereum to Donald Trump’s campaign.
Jesse Powell, co-founder and former CEO of Kraken Exchange, announced a $1 million personal donation to Donald Trump’s presidential campaign. Interestingly, this donation will be made in Ethereum, highlighting Trump’s embrace of digital assets.
As the US presidential election approaches, industry executives continue to lend their support to Republican candidate Trump, who has publicly stated his intentions for the crypto industry. Trump has expressed his stance on cryptocurrency, stating that he wants Bitcoin to be “made in the usa.” His pro-crypto stance has garnered admiration and support from major stakeholders.
Powell condemns attacks on cryptocurrency industry, pledges support for Trump campaign
Kraken Chairman Powell expressed his intention to donate and his dissatisfaction with the United States’ approach to cryptocurrency regulation earlier today. a post on X (formerly Twitter). In his post, he highlighted how the crypto industry has come under major attacks from Senator Elizabeth Warren and SEC Chairman Gary Gensler.
Furthermore, he pointed out that the Biden administration has thwarted all efforts by the bipartisan Congress to impose clear regulations for the crypto industry. “…the Biden White House has stood by and allowed an unchecked regulatory campaign through enforcement,” he said.
I personally just donated $1 million (mostly #ETH) has @realDonaldTrump.
For too long, the crypto industry has been under attack from Elizabeth Warren, Gary Gensler, and others. Despite massive bipartisan efforts in Congress to put clear rules in place, the Biden White House has… pic.twitter.com/Ksxf3P2oCb
– Jesse Powell (@jespow) June 28, 2024
Furthermore, he noted that these severe regulatory hurdles have diminished the competitiveness of the United States, as other major countries have put in place advanced and clear rules to regulate digital assets. Therefore, to promote a safer crypto environment, he announces his support for Donald Trump, donating $1 million in crypto to the “only pro-crypto major party candidate in the 2024 presidential election.”
He expressed his excitement at joining the bandwagon of crypto community leaders who have come together to champion this cause in hopes of cementing the United States as a leader in blockchain technology.
Other key figures who have supported the Trump campaign include Cameron and Tyler Winklevoss, the founders of the Gemini stock exchange, and Ark Invest CEO Cathie Wood. In a previous article, Coinfomania reported that the Winklevoss twins pledge $1 million donation in Bitcoin each to the presidential campaign. Wood said in a previous interview that she planned to vote for Trump, describing him as the best candidate for the U.S. economy.