Kraken
founder
Jesse
Powell
said
he
donated
$1
million,
mainly
Ethereum,
to
support
former
US
President
Donald
Trump‘s
re-election
bid.
In
a
June
28
statement,
Powell
explained
that
the
donation
was
meant
to
help
the
US
maintain
its
leadership
in
blockchain
technology.
He
said:
“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
so
the
United
States
can
continue
to
remain
a
leader
in
blockchain
technology.”
Powell’s
social
media
post
also
included
a
“#freeross”
hashtag
about
Ross
Ulbricht,
the
convicted
founder
of
the
darknet
marketplace
Silk
Road.
Interestingly,
Former
President
Trump
has
vowed
to
pardon
Ulbricht
if
he
returns
to
office.
Slams
Biden
Meanwhile,
the
Kraken
founder
criticized
President
Joe
Biden‘s
approach
to
the
emerging
industry.
According
to
Powell,
Biden’s
administration
has
allowed
“a
campaign
of
unchecked
regulation
by
enforcement”
to
thrive,
impacting
US
competitiveness
in
the
global
space.
He
stated:
“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
stood
by
and
allowed
a
campaign
of
unchecked
regulation
by
enforcement.”
Trump’s
re-election
chances
Powell
is
the
latest
notable
figure
from
the
crypto
industry
to
endorse
Trump
publicly.
The
former
President
has
recently
taken
a
more
favorable
stance
toward
crypto,
pledging
to
support
the
industry
and
end
the
Biden
administration’s
“war
on
crypto”
if
elected.
These
actions
seem
to
be
boosting
Trump’s
re-election
efforts.
Polymarket,
a
popular
crypto-based
prediction
platform,
shows
his
chances
rising
to
about
65%
after
the
first
presidential
debate
of
the
2024
election
season.
Meanwhile,
Biden’s
chances
of
exiting
the
race
have
spiked
to
43%.
Macroeconomics
outlet
the
Kobeissi
Letter
stated:
“The
odds
of
President
Biden
winning
the
2024
Democratic
nomination
are
down
by
24%
in
2
HOURS.
Prior
to
the
debate,
markets
saw
an
86%
chance
that
Biden
would
win
the
nomination.
Now,
there’s
a
38%
chance
that
he
WON’T
be
nominated
as
the
Democratic
candidate.”
Mentioned
in
this
article
Go to Source
Author: Oluwapelumi Adejumo
