Kraken co-founder Jesse Powell has made waves by announcing a $1 million donation to Donald Trump’s 2024 presidential campaign, predominantly in Ether. Powell declared his support for Trump, highlighting him as the sole major party candidate championing pro-crypto policies.
Expressing his enthusiasm on X, Powell 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 didn’t shy away from criticizing the Biden administration’s approach to crypto regulation. He specifically pointed fingers at figures like Senator Elizabeth Warren and SEC Chair Gary Gensler, accusing them of undermining U.S. competitiveness in the crypto sector. “For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others,” Powell asserted.
Rudy De La Cruz, general and strategic partner at BasedVC, echoed a sentiment of optimism within the crypto community. He noted, “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 sees Trump’s candidacy as a pivotal opportunity for the U.S. to maintain its leadership in blockchain technology. His post included a photo of himself with Trump and the hashtag #freeross, referencing Ross Ulbricht, who is serving a life sentence for his involvement with the Silk Road online marketplace.
In a related development, U.S. presidential candidate Robert F. Kennedy Jr. announced on June 20 that he would pardon Ulbricht if elected. He argued that Ulbricht’s punishment—two life sentences plus 40 years—was excessively harsh for hosting an e-commerce platform, despite the illegal activities that occurred there. RFK Jr. also encouraged the public to sign a petition for Ulbricht’s release.
Receive intel reports across 15+ web3 sectors daily –early access.