Powell has donated $1 million to Trump’s campaign, mostly in Ethereum (ETH).
The co-founder stated that the US needs crypto-friendly leadership.
Jesse Powell, Kraken’s co-founder and chairman, recently made headlines for a large personal contribution he made to the 2024 presidential campaign of former president Donald Trump. A major player in the cryptocurrency industry, Powell has donated $1 million to Trump’s campaign, mostly in Ethereum (ETH).
In a recent social media post, he revealed the contribution, stating that the US needs crypto-friendly leadership. The present U.S. government’s stance on cryptocurrency regulation has Jesse Powell quite unhappy, as he said in a recent X post. He said that the sector is suffering from innovation-killing red tape because of President Biden’s regulations.
Anti-crypto Attitude
Specifically, the Kraken co-founder’s comments show how he feels about the Biden administration’s crypto regulating policies. He went on to say that the United States is falling behind other global powers because the present government isn’t doing enough to establish transparent rules for digital assets.
There are a few market analysts that see Senator Elizabeth Warren as anti-crypto, and he has spoken out against her. Among those paying attention to the cryptocurrency market is John Deaton, a lawyer who is pro-XRP and is running against Senator Warren.
The co-founder of Kraken, on the other hand, has spoken out against U.S. SEC Chair Gary Gensler’s anti-crypto attitude and persistent incursion into the realm of digital assets.
At the same time, Jesse Powell has decided to financially support Trump because he believes the policies of the previous president would be beneficial for the cryptocurrency business. According to Powell, Donald Trump is an essential ally for the future of U.S. crypto leadership since he is the only major party candidate with a positive attitude towards cryptocurrencies.
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