Regulation
Kraken Co-Founder Backs Trump With $1M Crypto Donation
Image: Kanchanara/Unsplash
Kraken co-founder Jesse Powell has donated $1 million to Donald Trump’s presidential campaign, mostly in Ether.
The piece highlights the crypto community’s search for a candidate who will benefit their industry, despite dissatisfaction with the current administration’s regulatory stance.
Powell’s donation joins a string of cryptocurrency contributions to Trump’s campaign, including from industry figures like the Winklevoss twins.
Trump has established himself as a pro-cryptocurrency candidate, accepting cryptocurrency donations and arguing that the United States should become a leader in Bitcoin production, in contrast to the Biden administration’s more enforcement-focused approach to regulation of cryptocurrencies.
Despite cryptocurrency’s prominence in the political sphere, the first presidential debate between Biden and Trump on Thursday did not address the topic.
The lack of discussion about digital assets has been noted by the broader community.