Jesse Powell Donates $1 Million in Cryptocurrency to Donald Trump

Kraken co-founder Jesse Powell has donated $1 million to Donald Trump’s campaign, “mostly in ETH.”

I just personally donated $1m (mostly #ETH) to @realDonaldTrump.

For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler and others. Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has… pic.twitter.com/Ksxf3P2oCb

— Jesse Powell (@jespow) June 28, 2024

“Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has stood aside and allowed a campaign of unchecked regulation through enforcement. This approach reduces U.S. competitiveness as other major economies around the world set clear rules for digital assets,” Powell wrote.

He noted his support for “the only major party candidate who supports cryptocurrency.”

Powell concluded his post with the hashtag #freeross, a reference to Trump’s promise to free Silk Road darknet market founder Ross Ulbricht.

Previously, Gemini bitcoin exchange founders Cameron and Tyler Winklevoss donated $2 million in bitcoin to Trump. However, according to Bloomberg, part of the funds was returned due to exceeding the maximum amount.

In June, Trump called himself the “crypto president” and criticized Democrats’ attempts to regulate the industry, also promising to protect mining in the U.S. and worldwide.