The United States Presidential election campaign is getting cryptocurrency savvy as several industry leaders are coming ahead to support candidates through donations. In the latest move, Jesse Powell, Kraken co-founder, donated $1 million to Donald Trump’s presidential campaign.
Kraken’s co-founder makes it to the list
According to reports, most of the donation made by Jesse Powell turns out to be in Ether (ETH). In an X (formerly Twitter) post Powell announced his support for Trump. He highlighted Trump as the only pro-crypto major party candidate in the 2024 election.
Donald Trump has interestingly positioned himself as a pro-crypto candidate race. He is advocating for the US to be a leader in this field. He solidifies his stance by accepting campaign donations in crypto.
Jesse Powel in the post stated that “For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others.” He added that “Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has stood by and allowed a campaign of unchecked regulation by enforcement.”
Kraken co-founder suggested that this approach is diminishing US competitiveness as other major economies around the world advance clear rules to regulate digital assets.
He mentioned that he is excited to join other leaders in our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election. This will be done so the US can continue to remain a leader in blockchain technology.
It is important to note that Powell is not alone in his support. By donating Ether he joined the list of big figures in the crypto community. This includes the names such as the Winklevoss twins, who each donated $1 million in Bitcoin to Trump’s campaign.
More donations to Trump
However, a part of the Winklevoss twins’ contributions were refunded due to federal donation limits. As reported, the maximum allowable donation per person to the Trump committee is $844,600. Any excess contribution above this limit will be returned.
On the market side, Bitcoin price surged marginally over the past 24 hours to retain the $61,000 price level. BTC is trading at an average price of $61,623, at the press time. Its 24 hour trading volume is up by 3% to stand at $22 billion with a market cap of $1.24 trillion.
Ether, the biggest altcoin, surged by around 2% to keep up the momentum. ETH is trading at an average price of $3,448, at the press time.
