Jesse Powell, the founder of Kraken, a prominent cryptocurrency exchange, has contributed $1 million to Donald Trump’s 2024 presidential campaign. Powell expressed his enthusiasm for supporting Trump, who he views as the most pro-crypto candidate. This large donation, primarily in ether, aims to bolster U.S. leadership in blockchain technology.

Amid growing regulatory pressures under the current administration, Powell criticized the Biden administration’s approach to crypto regulation. He highlighted a “campaign of unchecked regulation by enforcement,” which he believes diminishes U.S. competitiveness in the global crypto market.

Naming specific opponents within the government, Powell pointed to figures like Senator Elizabeth Warren and SEC Chair Gary Gensler as key adversaries to the advancement of the cryptocurrency industry. His support for Trump is seen as a strategic move to protect and advance U.S. interests in blockchain and crypto innovations.

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