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

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

Another co-founder of Kraken, Jesse Powell, the popular cryptocurrency exchange has publicized the release of one million USD as the prize of the first prize which will be awarded to the Republican presidential candidate Donald Trump with the major part of the donation made in the form of Ether.

“I am happy to join other leaders from our community to give the vote to the only pro-crypto major party candidate in the 2024 Presidential election”, Powell wrote in a post on X.

Powell clarified that the crypto industry was being continuously attacked by the people like Elizabeth Warren and Gary Gensler, who have been harsh in their criticism of the industry. He further reported that irrespective of the efforts made by Republicans and Democrats to pass necessary rules for cryptocurrencies, the Biden administration has not been active. That is why the startup, which is one characterized by a plethora of enforcement actions rather than unambiguous guidelines, has been left behind. It has got to be admitted that the world is altering in this perspective, as controllers in different major economies outside the US are making it compulsory for digital tokens to follow precise rules. He emphasised that his statement was the following: “This way is weakening the US competitively as other major countries around the world make clear rules for the regulation of digital assets”, said Powell.

Crypto Veterans Rally Behind Trump

The donation of Powell to the electioneering makes it complete. He is in line with other front figures of the crypto community who have been enthusiastic about Donald Trump’s election campaign. The Winklevoss twins, the holders of the Gemini cryptocurrency, also voiced their donations of one million dollars each to Trump’s campaign. The information was made known but a part of their amount was later refunded to them in compliance with the electoral rules which allowed a maximum donation of $1,000.

Trump was not liable to be favored by the crypto industry sector during his election campaign. In the last few days, he informed on his receiving of cryptocurrency donations and made it clear that he thinks that the domestically produced bitcoin is important. In addition to that, he insisted that the United States should take a lead role in the crypto space.

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Among other significant developments, Trump has not presented any specific plans regarding cryptocurrencies, and the topic did not come up during the initial presidential debate between Trump and President Joe Biden, although the crypto community pursued it.

the Point at Which Voters Start Taking Crypto Into Account

According to Harris Poll, 1 in 3 Americans show protection on which side of the cryptocurrency issues the candidate takes before casting their votes. At the same time, a survey held by leading venture capital company Paradigm on crypto also indicated his popularity for the 2024 US Presidential Election. Of the 1,000 respondents, 48% chose the for the White House while 39% went for Joe Biden.

Likewise, a recent piece of information from Coinbase stated that voters in California who own cryptocurrencies will be the expected major influencers of the 2024 elections. His voice in cryptocurrency debates has been a constant, besides the fact he has made multiple public utterances in the last few weeks.

May 26, at a meeting with reporters, he made public his opinion once more that the US disguised its power by overtaking the crypto sector. Speaking on the platform for Truth Social, a social media website produced by Trump Media and Technology Group, he remarked, “Our country must be the leader in the field, there is no second place”.

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