Kraken Co-Founder Jesse Powell Contributes $1 Million, Primarily in Ether, to Donald Trump

Jesse Powell, a co-founder of the well-known cryptocurrency exchange Kraken, has declared a contribution of $1 million to Republican presidential hopeful Donald Trump, with most of the donation made in Ether.

“I am thrilled to join other leaders from our community in supporting the only pro-crypto major party candidate in the 2024 Presidential election,” he stated in a message on X.

Powell noted that the cryptocurrency sector has encountered ongoing challenges from individuals like Elizabeth Warren and Gary Gensler, who have been critical of the industry.

He also pointed out that despite bipartisan initiatives in Congress aimed at creating clear regulations, the Biden administration has been somewhat inactive, resulting in a regulatory landscape defined more by enforcement than by explicit guidelines.

“This strategy is undermining US competitiveness as other leading economies globally establish clear regulations for digital assets.”

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

For too long, the crypto industry has faced opposition from Elizabeth Warren, Gary Gensler, and others. Despite strong bipartisan Congressional efforts to implement clear regulations, the Biden White House has… pic.twitter.com/Ksxf3P2oCb

— Jesse Powell (@jespow) June 28, 2024

Crypto Veterans Rally Behind Trump

Powell’s contribution aligns him with other notable members of the crypto community who have been actively endorsing Trump’s campaign.

The Winklevoss twins, creators of the Gemini cryptocurrency exchange, also disclosed their donations of $1 million each to Trump’s campaign.

However, reports indicate that part of their contributions was subsequently refunded to adhere to donation limits set by campaign finance laws.

Throughout his campaign, Trump has positioned himself as a candidate who seems supportive of the crypto industry.

Recently, he announced his acceptance of cryptocurrency donations and emphasized the significance of domestically-produced bitcoin.

Additionally, he has advocated for the United States to take a leading role in the crypto sector.

Importantly, Trump has not yet detailed specific policies regarding cryptocurrencies, and the subject did not come up during the initial presidential debate with President Joe Biden, despite attempts from the crypto community.

Voters Consider Candidates’ Stance on Crypto

According to reports, a survey conducted by the Harris Poll has shown that one in three voters in the US takes a candidate’s stance on cryptocurrencies into account when making their voting choices.

Another survey by prominent crypto venture capital firm Paradigm indicates that Trump’s polling figures for the 2024 US Presidential Election receive considerable backing from the crypto community.

This survey, which included 1,000 registered voters, revealed that 48% of crypto owners plan to support the former president, while 39% intend to vote for current U.S. President Joe Biden.

Similarly, a recent report from Coinbase suggested that California voters who own cryptocurrencies are likely to have a substantial influence on the 2024 elections.

Trump’s outspoken support for cryptocurrency is not a recent development, as demonstrated by several recent public remarks.

On May 26, he reaffirmed his belief that the United States must establish its leadership in the crypto domain.

“Our country must be the leader in the field, there is no second place,” he stated at that time in a post on Truth Social, a social media platform owned by Trump Media and Technology Group.

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