Jesse Powell, the co-founder and chairman of the cryptocurrency exchange Kraken, has donated $1 million in digital assets to the United States presidential campaign of the pro-crypto candidate Donald Trump.
In a Friday tweet, Powell revealed that the donation was mainly in ether (ETH). The Kraken founder has now declared publicly his support for Trump due to his favorable views on the crypto industry.
According to Powell, U.S. leaders like Senator Elizabeth Warren and Gary Gensler, chairman of the Securities and Exchange Commission (SEC), have waged war on the local crypto industry for too long.
Senator Warren is a well-known crypto critic who has made several moves to introduce strict legislation for regulating the U.S. crypto industry.
Last year, Warren introduced the Digital Asset Anti-Money Laundering Act, which aims to implement strict anti-money laundering rules and counter-terrorism financing measures in the crypto sector. If approved, the bill will extend Bank Secrecy Act (BSA) responsibilities, including KYC requirements, to crypto network participants like wallet providers, miners, and validators.
On the other hand, Genslerās SEC has sued several crypto entities, including exchanges and infrastructure providers, accusing them of offering unregistered securities. Firms like Coinbase, Binance, Ripple, and even Krakenās parent company, Payward Ventures, have all been dragged to court for their alleged securities violations.
Krakenās co-founder said the Biden administration has allowed a ācampaign of unchecked regulation by enforcementā on the crypto industry despite bipartisan congressional efforts to create clear rules for the sector. He insisted that such an approach diminishes U.S. competitiveness as other major economies have clear crypto laws.
Powellās opinions echo those of Tyler and Cameron Winklevoss, the co-founders of crypto exchange Gemini, who have also donated $1 million in bitcoin each to Trumpās campaign. They believe Trumpās victory in the upcoming elections could end the current administrationās overreach and hostility toward the crypto industry.
Meanwhile, Trump has pledged to protect Bitcoin from Senator Warren and other critics and never to allow the creation of a central bank digital currency (CBDC) in the U.S.
The post More Crypto Donations: Kraken Co-Founder Gives $1M in ETH to Donald Trump appeared first on CryptoPotato.
In a Friday tweet, Powell revealed that the donation was mainly in ether (ETH). The Kraken founder has now declared publicly his support for Trump due to his favorable views on the crypto industry.
Powell Donates $1M to Trump
According to Powell, U.S. leaders like Senator Elizabeth Warren and Gary Gensler, chairman of the Securities and Exchange Commission (SEC), have waged war on the local crypto industry for too long.
Senator Warren is a well-known crypto critic who has made several moves to introduce strict legislation for regulating the U.S. crypto industry.
Last year, Warren introduced the Digital Asset Anti-Money Laundering Act, which aims to implement strict anti-money laundering rules and counter-terrorism financing measures in the crypto sector. If approved, the bill will extend Bank Secrecy Act (BSA) responsibilities, including KYC requirements, to crypto network participants like wallet providers, miners, and validators.
On the other hand, Genslerās SEC has sued several crypto entities, including exchanges and infrastructure providers, accusing them of offering unregistered securities. Firms like Coinbase, Binance, Ripple, and even Krakenās parent company, Payward Ventures, have all been dragged to court for their alleged securities violations.
Krakenās co-founder said the Biden administration has allowed a ācampaign of unchecked regulation by enforcementā on the crypto industry despite bipartisan congressional efforts to create clear rules for the sector. He insisted that such an approach diminishes U.S. competitiveness as other major economies have clear crypto laws.
Trumpās Stance on Crypto
Powellās opinions echo those of Tyler and Cameron Winklevoss, the co-founders of crypto exchange Gemini, who have also donated $1 million in bitcoin each to Trumpās campaign. They believe Trumpās victory in the upcoming elections could end the current administrationās overreach and hostility toward the crypto industry.
Meanwhile, Trump has pledged to protect Bitcoin from Senator Warren and other critics and never to allow the creation of a central bank digital currency (CBDC) in the U.S.
The post More Crypto Donations: Kraken Co-Founder Gives $1M in ETH to Donald Trump appeared first on CryptoPotato.
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