Tech
Kraken Co-Founder Jesse Powell Donates $1M in Crypto to Trump’s Presidential Campaign
The co-founder of the Kraken crypto exchange, Jesse Powell, showed solidarity with Donald Trump by donating $1 million in Ether tokens to his campaign. According to Powell, his support for Trump is based on the latter’s advocacy of pro-crypto policies.
Jesse Powell supports Trump campaign due to pro-crypto policies
In a June 28 X post, Powell disclosed THE $1 million donation to Trump’s 2024 presidential campaign.
Powell also said he supports Trump in the 2024 presidential election because he is the only major candidate to support digital assets.
Additionally, the co-founder expressed his excitement at the idea of joining other cryptocurrency leaders to support the only pro-crypto candidate in the 2024 presidential election. He noted that their solidarity moves to give the U.S. a leading role in blockchain technology.
However, Powell criticized President Joe Biden’s regulatory policy method for the cryptocurrency industry in the post. He mentioned that Biden White House officials have unleashed uncontrolled regulatory and enforcement measures against digital assets.
He further said that the country is gradually losing its competitiveness in the cryptocurrency space under the Biden administration. According to him, some officials, such as Senator Elizabeth and SEC Chairman Gary Gensler, contributed to the delay in the country’s dominance in the world of digital assets.
Powell said: “For too long, the cryptocurrency industry has been attacked by Elizabeth Warren, Gary Gensler and others.”
In contrast, Powell expects a new and positive impact in the crypto space from Trump’s presidential candidacy. He believes that Trump’s victory will project the United States as a leader in the blockchain space.
Trump’s presidential campaign attracts more digital asset donations
Donald Trump has raised several cryptocurrency donations for his 2024 presidential campaign. A blockchain analytics firm Breadcrumbs reported on cryptocurrency donations to the Trump campaign. According to the company, the the campaign received approximately $59,000 from on-chain donations starting June 17th.
Additionally, traditional financial donations to the campaign totaled nearly $244 million as of the end of May 2024. In addition to Powell, other prominent figures in the cryptocurrency and blockchain industries have donated to Trump’s campaign.
Tyler and Cameron Winklevoss, the founders of cryptocurrency exchange Gemini, donated 15.47 BTC tokens each to the campaign. Each donation from the Winklevoss twins is worth about $1 million.
In addition to donating the money, Cameron said he supports Trump’s pro-crypto and pro-Bitcoin policies. He stressed that Trump is on the right track to ending the Biden administration’s war on the digital asset industry.
Similarly, Cathie Wood, CEO of ARK Invest, did so disclosed his support for Trump in presidential elections.
During an interview at the Millionaire Symposium in Las Vegas, the CEO mentioned it she is an economic voterFor this reason, he plans to vote for Trump, the right candidate to ensure the best economy for the United States.
Disclaimer: The views expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
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