Crypto Champion Jesse Powell Endorses Trump with $1 Million Donation, Slams Biden’s Regulatory Approach

Crypto Champion Jesse Powell Endorses Trump with $1 Million Donation, Slams Biden’s Regulatory Approach

Jesse Powell, the co-founder of Kraken, has recently announced on X that he has personally contributed $1 million, primarily in Ether, to Donald Trump’s 2024 presidential campaign.

Powell underscored his endorsement of Trump, highlighting him as the sole major party candidate actively promoting pro-crypto policies.

“I am thrilled to join other leaders from our community in rallying behind the only pro-crypto major party candidate in the 2024 Presidential election so the United States can continue to lead in blockchain technology.”

Powell criticizes the Biden administration

In his post, Powell also took aim at President Joe Biden’s regulatory stance towards the crypto industry.

He specifically called out figures such as Senator Elizabeth Warren and Securities and Exchange Commission (SEC) Chair Gary Gensler for what he sees as actions that undermine U.S. competitiveness.

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

Powell: Pro-Trump, pro-Ulbricht

Powell believes Trump’s 2024 presidential bid provides an opportunity for the U.S. to maintain its leadership in blockchain technology.

“I am excited to join other leaders from our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election so the United States can continue to remain a leader in blockchain technology.”

The post, which included a photo of Powell and Trump solidifying their alliance, also featured the hashtag #freeross, referencing Ross Ulbricht.

Ulbricht was sentenced to life in prison without parole plus 40 years in 2015 for founding and operating Silk Road, an online black market.

On June 20, U.S. presidential candidate Robert F. Kennedy Jr. expressed on X that he would free Ulbricht if elected in November.

“Ross Ulbricht has been in prison far too long. Two life sentences for hosting an e-commerce platform. Yes, illegal activity took place there, but come on.”

RFK Jr. promised to pardon Ulbricht if elected president and committed to signing a petition for his release, urging others to do the same.