Jesse Powell, founder of cryptocurrency exchange Kraken, announced today that X has donated $1 million to former US President Donald Trump’s campaign.
“I am excited, along with other leaders in our community, to unite behind the only major party candidate to support cryptocurrency in the 2024 presidential election so that America can continue to remain a leader in blockchain technology.” Powell said It’s on the X-post. The post details that the majority of the $1 million donation is comprised of Ether.
Kraken’s former leader said the Biden administration had allowed an “uncontrolled regulatory campaign by enforcement” that was undermining the United States’ competitiveness against other major economies in regulating cryptocurrency assets. Powell mentioned names such as Senator Elizabeth Warren and Securities and Exchange Commission Chairman Gary Gensler as opponents of the cryptocurrency industry.
Powell Stepped back He will serve as CEO from 2022 and will continue to serve as Chairman of the Board of Directors.
Trump vs Biden
Trump has recently expressed strong support for the blockchain and cryptocurrency industry. Trump began accepting campaign donations in various cryptocurrencies last month, and she has given several speeches that have included digital assets and Bitcoin mining.
Through this, the proposed Republican candidate for the 2024 election has gained the support of high-profile figures in the cryptocurrency space, such as the founder of Gemini. Cameron and Tyler Winklevoss and Ark Invest CEO Cathie Wood. Wood said at her conference last week that she Vote for TrumpConsider the future of the U.S. economy.
Meanwhile, US President Joe Biden has not taken a clear stance on cryptocurrencies following Trump’s public support for the sector. However, The Block reported last month that the Biden campaign was talking to local crypto industry members for policy guidance, and earlier this month that the Biden campaign was exploring accepting crypto donations through Coinbase Commerce.
On Thursday night, Biden and Trump held their first presidential debate since 2020, hosted by CNN. The topic of blockchain and cryptocurrencies did not come up during the debate, but Call for Biden’s resignation The Guardian reported that he will not run for re-election in 2024. Prediction market platform users Polymarket betting 62% The point is that Trump will win the upcoming US presidential election.
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