Jesse Powell Donates $1 Million in ETH to Donald Trump’s 2024 Presidential Campaign, Supporting Pro-Crypto Policies
Jesse Powell, co-founder of Kraken, announced on X that he personally donated $1 million, mainly in ETH, to Donald Trump’s 2024 presidential campaign.
Powell highlighted his support for Trump as the only major candidate in the party advocating for pro-crypto policies.
Support for Pro-Crypto Policies
Powell expressed his enthusiasm in joining other crypto community leaders in supporting the only major candidate favorable to the cryptocurrency industry in the 2024 presidential election. He expressed his desire to see the United States remain a leader in blockchain technology.
Criticism of the Biden Administration
In his post, Powell criticized the regulatory approach of the current Biden administration towards the crypto industry. He accused figures like Senator Elizabeth Warren and Securities and Exchange Commission Chairman Gary Gensler of undermining the competitiveness of the United States. Powell stated that the crypto industry has been under attack by these officials for too long.
According to a Grayscale survey, the crypto ecosystem is a concern for Americans, although voters are divided. The support of pro-crypto candidates by wealthy entrepreneurs is not surprising.
Alliance with Trump and Robert F. Kennedy Jr.’s Position
Powell believes that Trump’s candidacy in the 2024 presidential election offers an opportunity for the United States to lead in blockchain technology. His post, which included a photo of Powell and Trump reinforcing their alliance, also featured the hashtag #freeross, referring to Ross Ulbricht. Ulbricht was sentenced to life in prison plus 40 years without the possibility of parole in 2015 for creating and operating the online black market Silk Road, used for anonymous purchases of goods and services.
On June 20, U.S. presidential candidate Robert F. Kennedy Jr. stated in a post on X that he would free Ulbricht if elected in November. Kennedy asserted that Ross Ulbricht has been imprisoned for far too long, adding that two life sentences for hosting an e-commerce platform were excessive. He also indicated that he would sign a petition for his release and encouraged readers to do the same.
