Kraken co-founder Jesse Powell has pledged a significant donation of $1 million, predominantly in Ether, to Donald Trump’s 2024 presidential campaign. Powell’s decision underscores his support for Trump as the primary pro-crypto candidate among major party contenders.
In a recent x post, Powell criticized the current regulatory stance on cryptocurrencies under President Joe Biden’s administration. He specifically called out officials like Senator Elizabeth Warren and SEC Chair Gary Gensler, accusing them of undermining the United States’ competitiveness in crypto space.
Trump’s recent pro-crypto comments mark a shift from his earlier criticism. He expressed a “positive and open-minded” view on cryptocurrency companies and emphasized the need for U.S. leadership in the industry.
Powell is excited to join other crypto community leaders in uniting behind the only pro-crypto major party candidate in the 2024 Presidential election so the United States can continue to be a leader in blockchain technology. Powell’s post included a photo with Trump, symbolizing their alliance, and the #freeross, referencing Ross Ulbricht.
Ross Ulbricht, the mind behind the Silk Road online black market, is currently in jail for the rest of his life, plus forty years for his involvement in the platform. The case has attracted a lot of controversy, with critics complaining that his punishment is rather severe since he was only hosting an e-commerce site. However, it had engaged in unlawful activities.
Trump’s Meme Coins Eclipse Biden’s in Crypto Popularity RaceA few days ago, U.S. presidential candidate Robert F. Kennedy Jr. also weighed in on Ulbricht’s situation. Kennedy Jr. declared in an X post his intention to free Ulbricht if elected in November. Ross Ulbricht has been in prison far too long. He stated:
Two life sentences for hosting an e-commerce platform. Yes, illegal activity took place there, but come on. When I’m President I will pardon him. In the meantime, I’m going to sign the petition asking for his release, and I encourage you to do the same.
Powell’s substantial financial support for Trump’s campaign underscores the increasing convergence of cryptocurrency advocacy with political movements. This marks a crucial moment for the crypto community as the election approaches.
