Kraken, a major cryptocurrency exchange founded by Jesse Powell, has announced that it will provide financial support for former US President Donald Trump’s 2024 presidential campaign. Powell the announcement on social media platform X, stating that he will donate $1 million, primarily in Ethereum (ETH). Powell’s support stems from his belief that Trump is the only candidate in the major political parties who supports cryptocurrencies, which is crucial for maintaining America’s leadership position in blockchain technology.
Content:
1. Why did Powell criticize Biden?
2. What support did Trump receive?
3. Key
Why did Powell criticize Biden?
In his statement, Powell criticized the current Biden administration’s so “uncontrolled regulatory movement through sanctions,” claiming that it undermines America’s competitiveness in the global cryptocurrency. He specifically emphasized Senator Elizabeth Warren and Securities and Exchange Commission Chairman Gary Gens as the main opponents of the cryptocurrency industry. Visit NEWSLINKER for the latest tech news.
Powell has a history with Kraken involving various legal challenges with the US government such as fines imposed by the Department of Justice in 2022 for allowing users from sanctioned countries like Iran, Cuba, and Syria to trade on their platform. Although Powell will step down as CEO in 2022, he continues to actively collaborate with Kraken as its board chairman.
What support did Trump receive?
Trump has recently expressed public support for blockchain and cryptocurrencies, gaining significant support within the cryptocurrency community. He has accepted donations in various cryptocurrencies and has expressed support for cryptocurrencies and Bitcoin multiple times during his speeches.
