Kraken Co-Founder Jesse Powell Donates $1M in Crypto To Trump’s Presidential Campaign

The co-founder of the Kraken crypto exchange, Jesse Powell, has shown solidarity with Donald Trump by donating $1 million in Ether tokens to his campaign. According to Powell, his support for Trump is based on the latter’s advocacy for pro-crypto policies. 

Jesse Powell Supports Trump’s Campaign Due to Pro-Crypto Policies 

In an X post on June 28, Powell disclosed the $1 million donation to Trump’s 2024 presidential campaign. 

Further, Powell mentioned that he supports Trump in the 2024 presidential race because Trump is the only top candidate who is a digital asset proponent.

Additionally, the co-founder expressed his excitement about joining other crypto leaders to support the only pro-crypto candidate in the 2024 presidential election. He noted that their solidarity moves to give the US prominence in blockchain technology.

However, Powell slammed President Joe Biden’s regulatory method for the crypto industry in the post. He mentioned that Biden’s White House officials unleashed unchecked regulatory measures and enforcement against digital assets. 

Also, he claimed that the country is gradually losing its competitiveness in the cryptocurrency space under Biden’s administration.  According to him, some officials, such as Senator Elizabeth and the SEC Chair Gary Gensler, contributed to the lag in the country’s dominance in the digital asset world. 

Powell said, “For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others.”

Conversely, Powell anticipates a new and positive impact in the crypto space from Trump’s presidential candidacy. He believes that Trump’s victory will project the US as a leader in the blockchain space.

Trump’s Presidential Campaign Attracts More Digital Asset Donations

Donald Trump has garnered several donations in crypto for his 2024 Presidential campaign. A blockchain analytics company Breadcrumbs reported about crypto donations to Trump’s campaign. According to the firm, the campaign received about $59,000 from on-chain donations as of June 17. 

Also, traditional finance donations to the campaign amounted to almost $244 million as of the end of May 2024. Besides Powell, other prominent figures in the crypto and blockchain industry have donated to Trump’s campaign.

Tyler and Cameron Winklevoss, the founders of the Gemini crypto exchange, donated 15.47 BTC tokens each to the campaign. Each donation from the Winklevoss twins is worth about $1 million.

Apart from donating the money, Cameron declared support for Trump’s pro-crypto, pro-Bitcoin policies. He pointed out that Trump is on the track to end Biden’s administration’s war on the digital assets industry.

Similarly, Cathie Wood, the CEO of ARK Invest, has disclosed her support for Trump in the Presidential election.

During an interview at the Millionaire Symposium in Las Vegas, the CEO mentioned that she is an economics voter. As such, she plans to vote for Trump, the right candidate to ensure the best economy for the US.