Jesse Powell, co-founder of Kraken exchange, recently announced his $1 million donation to Donald Trump’s presidential campaign, mostly in Ethereum. This move signals a new level of engagement between the crypto community and US politics. Powell joins the Winklevoss twins in supporting Trump’s re-election bid.
In a recent tweet, Powell referred to Trump as the only major party candidate with a pro-crypto view, highlighting his commitment to blockchain technology. Powell also criticized the Biden administration for its regulatory approach to cryptocurrencies, claiming it is weakening the US competitiveness in the global market.
The Gemini founders, Cameron and Tyler Winklevoss, also contributed $1 million in Bitcoin to Trump’s campaign, citing him as the best candidate for the crypto industry. Trump has shown support for crypto in recent months, while Biden has taken a stricter stance. Trump’s promise to end Biden’s “war on crypto” underscores his recognition of the industry’s importance.
Despite the growing influence of crypto in US politics, it did not feature prominently in the recent debate between Biden and Trump. However, with prominent figures like Powell and the Winklevoss twins showing support for Trump, the crypto industry’s impact on the upcoming election could be significant.
Overall, Powell’s donation to Trump’s campaign reflects the increasing involvement of the crypto community in US politics and highlights the division between candidates on crypto-related policies. As the election approaches, the industry’s stance on regulations and government support will continue to be a key factor in shaping the future of cryptocurrencies in the US.
