Jesse Powell CoFounder of Kraken Donates 1M Primarily in Ether to Donald Trump

Kraken Co-Founder Jesse Powell Makes $1M Donation, Mostly in Ether, to Donald Trump


Ruholamin Haqshanas
Last updated:
June 28, 2024, 07:28 EDT
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2 min read


Jesse Powell, a co-founder of the well-known cryptocurrency exchange Kraken, has revealed a contribution of $1 million to Republican presidential candidate Donald Trump, with the majority of the donation being in the form of Ether.
“I am thrilled to stand with other leaders in our community to support the only major party candidate in the 2024 Presidential election who is pro-crypto,” he wrote in a post on X.
Powell also mentioned the challenges the crypto industry has faced from individuals such as Elizabeth Warren and Gary Gensler, who have been critical of the industry.
He also noted that despite bipartisan efforts in Congress to establish clear regulations, the Biden administration has been relatively inactive, leading to a regulatory environment characterized by enforcement rather than clear guidelines.
Crypto Veterans Join Forces in Support of Trump
Powell’s donation aligns him with other influential figures from the crypto community who have been actively backing Trump’s campaign.
The Winklevoss twins, founders of the Gemini cryptocurrency exchange, also disclosed their donations of $1 million each to Trump’s campaign.
However, reports indicate that a portion of their donations was later returned to comply with donation limits imposed by campaign finance regulations.
Throughout his election campaign, Trump has positioned himself as a candidate who is favorable to the crypto industry.
In recent weeks, he announced his acceptance of cryptocurrency donations and expressed his belief in the significance of domestically-produced bitcoin.
Furthermore, he has advocated for the United States to take a leadership position in the crypto field.
Notably, Trump has yet to outline specific policies concerning cryptocurrencies, and the topic did not come up during the first presidential debate with President Joe Biden, despite efforts from the crypto community.
Voters Weigh Candidates’ Position on Crypto
According to reports, a survey conducted by the Harris Poll has shown that one in three voters in the US considers a candidate’s stance on cryptocurrencies before making their voting decision.
Another survey by leading crypto venture capital firm Paradigm reveals that Trump’s poll numbers for the 2024 US Presidential Election enjoy substantial support from the crypto community.
The survey, which included 1,000 registered voters, found that 48% of crypto owners plan to vote for the former president, while 39% intend to vote for current U.S. President Joe Biden.
Likewise, a recent report from Coinbase claimed that California voters who own cryptocurrencies are expected to have a significant impact on the 2024 elections.
Trump’s outspoken support for cryptocurrency is not new, as evidenced by several recent public statements.
On May 26, he reiterated his stance that the United States must assert its dominance in the crypto sector.
“Our country must be the leader in the field, there is no second place,” he said at the time in a post on Truth Social, a social media platform owned by Trump Media and Technology Group.
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