The founder of the Kraken crypto exchange, Jesse Powell, donated $1 million in Ethereum to former US President Donald Trump, emphasizing that this decision was made in response to the aggressive attitude towards the cryptocurrency industry from Democrat Elizabeth Warren and SEC Chairman Gary Gensler. 🎁

Powell also said the Biden administration has "allowed a campaign of unchecked regulation" that is "reducing US competitiveness."

Contrary to this, the SEC filed a lawsuit against Kraken's parent companies, Payward and Payward Ventures, for an allegedly illegal trading platform. The case is still pending in court.

Powell is the latest crypto executive to endorse the Republican presidential candidate.