Jesse Powell, the co-founder and former Chief Executive Officer of the Kraken exchange, has announced a personal donation of $1 million to Donald Trump’s presidential campaign. Interestingly, this donation will be made in Ethereum, underscoring Trump’s acceptance of digital assets.
As the United States presidential election draws near, industry leaders continue to pour in their support for the Republican candidate Trump who has publicly stated his intentions for the crypto industry. Trump has been vocal about his stance on cryptocurrency stating that he wants Bitcoin to be “made in the USA.” His pro-crypto position has attracted admiration and backing from major players.
Powell Condemns Crypto Industry Attacks, Pledges Support to Trumps Campaign
The Kraken chairman, Powell, expressed his intentions to donate and his dissatisfaction with the United States approach to crypto regulations earlier today in a post on X (formerly Twitter). In his post, he pointed out how the crypto industry has suffered major attacks from Senator Elizabeth Warren and the SEC chairman, Gary Gensler.
Furthermore, he stressed that the Biden administration has frustrated every effort by the bipartisan Congression to put clear regulations for the crypto industry. “…the Biden White House has stood by and allowed a campaign of unchecked regulation by enforcement,” he said.
I just personally donated $1m (mostly #ETH) to @realDonaldTrump.For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others. Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has… pic.twitter.com/Ksxf3P2oCb
— Jesse Powell (@jespow) June 28, 2024
Additionally, he noted that these stiff regulation hurdles have diminished the competitiveness of the United States as other major countries have advanced and clear rules in place to regulate digital assets. Therefore, to advance a safer crypto environment, he announces his support for Donald Trump, donating $1 million in crypto to the “only pro-crypto major party candidate in the 2024 Presidential election.”
He expressed his excitement to join the bandwagon of leaders from the crypto community who have come together to push this cause with the hopes of cementing the United States as the leader in blockchain technology.
Other key figures who have supported the Trump campaign include Cameron and Tyler Winklevoss, the Gemini exchange founders, and Ark Invest CEO Cathie Wood. In a previous post, Coinfomania reported that the Winklevoss twins pledged a donation of $1 million in Bitcoin each to the presidential campaign. Wood asserted in a previous interview that she plans to vote for Trump, describing him as the best candidate for the US economy.
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