Connect with us

Hi, what are you looking for?


Kraken exec criticizes Biden’s crypto approach, backs Trump’s campaign with $1M in ETH

buy Real Trump Token

Exchange Kraken’s co-founder Jesses Powell has disclosed a significant donation to support Donald Trump’s election campaign.

He has donated $1 million, mostly in Ethereum, to back “the only pro-crypto major party candidate in the 2024 presidential election.”

Powell emphasized the need for pro-cryptocurrency leadership to push the U.S. to the forefront of innovation.

Jesse Powell criticizes Biden Admin, Elizabeth Warren, and Garry Gensler

Kraken’s co-founder attacked the current approach by the United States in regulating cryptocurrencies.

He stated President Biden has done little to nothing to promote digital currency innovation in the United States.

Powell expressed discontentment towards the Biden White House over cryptocurrency regulations. He believes the current watchdogs have failed to regulate the space.

He further criticized Senator Elizabeth Warren for her anti-crypto stance. In 2023, Warren told CNBC,

“There’s a new threat out there, it’s crypto, it is being used for terrorist financing, it is being used for drug trafficking, North Korea is using it to pay about half of its nuclear weapon program. We can’t allow that to continue.”

However, Elizabeth Warren has faced a backlash due to his negative stance on digital assets, with some calling his attitude illegal and secretive.

Jesse Powel also attacked SEC chairman Gary Gensler for failure to establish a clear regulatory framework for digital currencies.

The Kraken exec trusts the current financial policies are hindering the U.S.’s competitiveness in the blockchain sector.

Donald Trump and the crypto market

The former U.S. president has seen massive acceptance in the digital assets community due to his pro-crypto stance.

Powell’s move to back Trump for the better of the crypto industry in the U.S. matches Trump’s views on the asset class.

Donald Trump recently emphasized that the United States should mine all the remaining Bitcoin.

Meanwhile, the Biden Admin has faced criticism over its crypto regulation policies, which many view as harmful to digital transformation.

Powell’s massive donation towards Trump’s campaign underscores the increasing political support in the crypto market.

Industry experts trust the 2024 U.S. presidential elections are crucial in shaping the crypto market’s future.

Proponents believe a Trump victory will be a massive win for the global cryptocurrency market.

The post Kraken exec criticizes Biden’s crypto approach, backs Trump’s campaign with $1M in ETH appeared first on Invezz

You May Also Like

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Editor's Pick

If you haven’t been following the “Twitter Files” saga, the gist of it is that the US federal government routinely pressured pre-Musk Twitter, and...

Editor's Pick

On April 23, 1985, the Coca-Cola Company made one of the biggest mistakes in American business history: it changed the formula for Coca-Cola. Outraged...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023