Jesse Powell, the co-founder of the popular cryptocurrency exchange Kraken, recently made headlines by donating $1 million to support Republican presidential hopeful Donald Trump’s 2024 campaign. The majority of Powell’s donation was made in the form of ether (ETH), a popular cryptocurrency.
In a statement shared on his X account, Powell expressed his enthusiasm about supporting Trump, highlighting that he is part of a group of leaders within the crypto community who are backing the only major party candidate with a pro-crypto stance in the upcoming Presidential election.
Trump’s Stance on Cryptocurrency
Donald Trump has been vocal about his support for cryptocurrency during his election campaign, positioning himself as a pro-crypto candidate. He recently announced that his campaign would be accepting donations in cryptocurrency, signaling his alignment with the digital asset space.
Trump’s vision includes advocating for the production of all bitcoin within the United States and positioning the country as a global leader in the cryptocurrency field. Despite his strong stance on crypto, specific policy proposals related to the industry have not been detailed by the candidate.
Support from the Crypto Community
Various prominent figures within the cryptocurrency community have shown their support for Trump’s campaign through financial contributions. Powell’s donation follows similar gestures from the Winklevoss twins, founders of the Gemini cryptocurrency exchange, who reportedly donated $1 million each to Trump’s cause.
While the crypto community has been actively backing Trump’s campaign, the topic of cryptocurrency did not surface during the recent presidential debate between Trump and incumbent President Joe Biden, despite efforts from crypto enthusiasts to bring attention to the industry’s importance in the modern economy.