Jesse Powell, co-founder of Kraken, recently announced via X that he has personally contributed $1 million, primarily in Ether, to Donald Trump’s 2024 presidential campaign. Powell underscored his endorsement of Trump as the sole major-party candidate championing pro-crypto policies.
In his statement, Powell criticized the Biden administration’s regulatory stance on the crypto industry. He particularly targeted figures like Senator Elizabeth Warren and Securities and Exchange Commission Chair Gary Gensler, accusing them of weakening U.S. competitiveness.
Rudy De La Cruz, general and strategic partner at BasedVC, noted to Cointelegraph a prevailing sense of optimism within the crypto sector.
Powell highlighted Trump’s potential to position the U.S. as a leader in blockchain technology if elected in the upcoming presidential race. His social media post, featuring a photo of Powell and Trump reaffirming their alliance, included the hashtag #freeross, a nod to Ross Ulbricht.
Ulbricht received a life sentence plus 40 years in 2015 for his role in operating Silk Road, an online marketplace used for anonymous transactions.
Donald Trump has reaffirmed his campaign’s openness to cryptocurrency contributions, further aligning with Powell’s stance.
Robert F. Kennedy Jr., another U.S. presidential candidate, pledged in a recent X post on June 20 to secure Ulbricht’s release if elected in November. He also called on supporters to sign a petition advocating for Ulbricht’s pardon.
As challenges mount for Ethereum in combating phishing attempts, there is a noticeable shift towards TON and Bitcoin within the crypto community.