Kraken co-founder Jesse Powell donated $1 million, mostly in Ether, to Donald Trump's 2024 presidential campaign.

He supported Trump because he is the only major party candidate to advocate pro-crypto policies.

Powell criticized the Biden administration's approach to cryptocurrency regulation, accusing Senator Elizabeth Warren and SEC Chairman Gary Gensler of hurting the United States' competitiveness in the cryptocurrency market.

The cryptocurrency community had mixed reactions to Powell's donation. Powell is one of the prominent figures in the cryptocurrency community who supported Trump's campaign. The Winklevoss twin brothers of the Gemini exchange also donated to Trump, but some of the donations were returned.

Powell's post also carried a tag supporting Ross Ulbricht, the founder of the Silk Road online market, and US presidential candidate Robert F. Kennedy Jr. also expressed his support for Ulbricht.

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