Kraken’s Jesse Powell Donates $1M to Donald Trump

Jesse Powell, a co-founder of the renowned cryptocurrency exchange Kraken, has disclosed that he has contributed $1 million to Republican presidential candidate Donald Trump. The majority of the donations were made in the form of Ether.

In a post on X, he expressed his enthusiasm for the opportunity to unify with other leaders from our community in support of the sole pro-crypto major party candidate in the 2024 Presidential election.

Powell also stated that the crypto industry has encountered persistent challenges from individuals such as Elizabeth Warren and Gary Gensler, who have been critical of the industry.

He also noted that the Biden administration has been relatively passive, allowing a regulatory environment characterized by enforcement rather than clear guidelines, despite bipartisan efforts in Congress to establish clear regulations.

Crypto Veterans Rally Behind Trump

Powell’s donation is consistent with the active support of Trump’s campaign by other prominent figures in the crypto community.

In addition, the Winklevoss twins, the founders of the Gemini cryptocurrency exchange, disclosed their $1 million contributions to Trump’s campaign.

Nevertheless, reports indicate that a portion of their donations was subsequently refunded to adhere to the donation limits established by campaign finance regulations.

Trump has emerged as a candidate who supports the crypto industry throughout his election campaign.

He has recently disclosed his willingness to receive cryptocurrency donations and has emphasized the significance of Bitcoin, which is produced domestically.

Additionally, he has urged the United States to undertake a leadership role in the crypto sector.

It is important to note that Trump has not yet provided specific policies regarding cryptocurrencies, and the subject did not come up during the first presidential debate with President Joe Biden, despite the efforts of the crypto community.

Voters Consider Candidates’ Stance on Crypto

According to a survey conducted by the Harris Poll, one-third of electors in the United States evaluate a candidate’s stance on cryptocurrencies before casting their ballot.

Paradigm, a prominent crypto venture capital firm, conducted an additional survey indicating that the crypto community substantially supports Trump’s poll numbers in the 2024 U.S. Presidential Election.

The current U.S. President, Joe Biden, is expected to receive 39% of the vote. In comparison, 48% of crypto owners intend to vote for the former president, according to the survey, which included 1,000 registered voters.

Similarly, a recent report from Coinbase asserted that California electors who possess cryptocurrencies are anticipated to exert a substantial influence on the 2024 elections.

Numerous recent public statements indicate that Trump’s vocal endorsement of cryptocurrency needs to be fresh.

He reiterated his belief that the United States must establish its dominance in the crypto sector on May 26.

In a post on Truth Social, a social media platform owned by Trump Media and Technology Group, he stated at the time, “Our country must be the leader in the field; there is no second place.”