Jesse Powell, the co-founder and chairman of Kraken, a major player in the cryptocurrency industry, recently made headlines with his significant personal contribution to former president Donald Trump’s 2024 presidential campaign. Powell donated $1 million to Trump’s campaign, with the majority of the donation made in Ethereum (ETH).
In a recent social media post, Powell disclosed his contribution and emphasized the need for crypto-friendly leadership in the United States. He expressed his dissatisfaction with the current U.S. government’s stance on cryptocurrency regulation, stating that President Biden’s regulations are stifling innovation and burdening the sector with excessive red tape.
Powell’s comments reflect his concerns about the Biden administration’s approach to crypto regulation. He believes that the lack of transparent rules for digital assets is causing the United States to lag behind other global powers in the cryptocurrency arena. In particular, he has criticized Senator Elizabeth Warren, whom he perceives as anti-crypto, and has voiced his opposition to U.S. SEC Chair Gary Gensler’s negative attitude towards cryptocurrencies and his tendency to interfere in the digital asset space.
Powell’s decision to financially support Trump stems from his belief that the former president’s policies would benefit the cryptocurrency industry. According to Powell, Trump is the only major party candidate with a positive attitude towards cryptocurrencies and is therefore a vital ally for the future of U.S. crypto leadership.
Today’s highlighted crypto news focuses on the influence of Trump’s presidential debate on Bitcoin prices.
