Kraken founder Jesse Powell said he donated $1 million, mainly Ethereum, to support former US President Donald *****‘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 ***** has vowed to pardon Ulbricht if he returns to office.
Slams *****
Meanwhile, the Kraken founder criticized President Joe *****‘s approach to the emerging industry.
According to Powell, *****’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 ***** White House has stood by and allowed a campaign of unchecked regulation by enforcement.”
*****’s re-election chances
Powell is the latest notable figure from the crypto industry to endorse ***** publicly.
The former President has recently taken a more favorable stance toward crypto, pledging to support the industry and end the ***** administration’s “war on crypto” if elected.
These actions seem to be boosting *****’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, *****’s chances of exiting the race have spiked to 43%.
Macroeconomics outlet the Kobeissi Letter stated:
“The odds of President ***** winning the 2024 Democratic nomination are down by 24% in 2 HOURS. Prior to the debate, markets saw an 86% chance that ***** would win the nomination. Now, there’s a 38% chance that he WON’T be nominated as the Democratic candidate.”
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