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Kraken Co-Founder Jesse Powell Donates $1M, Mostly Ether, to Donald Trump

Powell said he is supporting the only major pro-crypto party candidate.

By Camomile Shumba
AccessTimeIconJun 28, 2024 at 9:32 a.m. UTC
Updated Jun 28, 2024 at 9:40 a.m. UTC
Kraken co-founder Jesse Powell (CoinDesk)
Kraken co-founder Jesse Powell (CoinDesk)
  • Kraken co-founder Jesse Powell donated $1 million to U.S. presidential candidate Donald Trump.
  • Powell joins the Winklevoss twins, founders of the Gemini exchange, in helping fund his campaign.

Jesse Powell, a co-founder of the crypto exchange Kraken, said he donated $1 million to Republican presidential hopeful Donald Trump, most of which was in ether (ETH).

"I am excited to join other leaders from our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election," Powell posted on his X account.

Trump has emerged as a pro-crypto candidate during the election campaign. Last month, he said he was accepting donations in crypto. He has called for all bitcoin to be made in the U.S. and said the nation should be a leader in the crypto field. He has yet, however, to suggest any policies for crypto. The topic did not arise during yesterday's first presidential debate against President Joe Biden, despite the crypto community's best efforts.

Powell joins other personalities in the crypto community who have been fueling Trump's campaign. Gemini exchange founders the Winklevoss twins said they had each given Trump $1 million, though some was reportedly refunded to comply with donation limits.

Edited by Sheldon Reback.


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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Camomile Shumba
Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Follow @camomileshumba on Twitter