Jesse Powell’s Support
Jesse Powell, co-founder of Kraken, has donated $1 million to Donald Trump’s 2024 election campaign. Powell believes Trump’s support for cryptocurrency is crucial for the future of blockchain technology in the US.
Crypto Industry’s Discontent
Powell’s donation reflects growing dissatisfaction within the crypto industry over the Biden administration’s regulatory policies. The industry sees these policies as restrictive and harmful to innovation.
Trump’s Pro-Crypto Stance
Trump’s position on cryptocurrency has evolved over time. He has recently become a strong supporter, accepting donations in various cryptocurrencies. This has attracted support from prominent crypto figures like the Winklevoss twins and Cathie Wood.
Biden’s Stealth Approach
In contrast, President Biden’s administration has not taken a clear stance on crypto. However, reports indicate that Biden’s campaign is seeking to engage with the crypto community.
Crypto Regulation as a Key Issue
As the 2024 election approaches, crypto regulation is expected to be a major issue. Powell’s donation and Trump’s potential pardon of Silk Road founder Ross Ulbricht signal the growing influence of crypto leaders in politics.
