Co-founder of Kraken Jesse Powell supports pro-crypto policies against regulatory crackdowns by lending $1 million in Ether to Trump. Kraken co-founder Jesse Powell said on X that he had personally contributed $1 million to Donald Trump’s 2024 presidential campaign, the most of which was made up of Ether.
Powell underlined that, as the only candidate from a major party now supporting pro-crypto policies, he supports Trump. “I’m thrilled to team up with other prominent members of our community to support the sole cryptocurrency-friendly major party nominee in the 2024 presidential race, ensuring that the United States maintains its position as a global leader in blockchain technology.”
Powell took issue with the way that President Joe Biden is now regulating the cryptocurrency business in the piece. Powell accused officials of undermining U.S. competitiveness, including Senator Elizabeth Warren and Securities and Exchange Commission (SEC) Chair Gary Gensler. “Gary Gensler, Elizabeth Warren, and other people have been attacking the cryptocurrency business for far too long.” Powell feels that there is an opportunity for the United States to dominate in blockchain technology as a result of Trump’s candidature in the impending 2024 presidential election. In order to ensure that the United States remains a leader in blockchain technology, I am thrilled to team up with other community leaders in support of the sole major party candidate who is pro-crypto in the 2024 presidential election.
The post, which included a photo of Powell and Trump reinforcing the alliance, also included the hashtag #freeross, a reference to Ross Ulbricht. In 2015, Ulbricht was found guilty of starting and running the Silk Road, an online black market where people could buy goods and services anonymously, and received a life sentence without the possibility of parole plus an additional 40 years. In an X post on June 20, U.S. presidential contender Robert F. Kennedy Jr. declared that, should he be elected in November, Ulbricht will be set free.
“Too much time has been spent in prison for Ross Ulbricht. For operating an online store, two life terms. Yes, there was unlawful activities there, but really? Once RFK Jr. pledged to pardon Ulbricht should he be elected president, he announced that he would be signing the petition to request Ulbricht’s release and invited readers to follow suit.