Crypto assets in politics: Jesse Powell supported Trump and expressed criticism
Date: 2024-06-28 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Jesse Powell, co-founder of the Kraken crypto exchange, made a significant contribution to Donald Trump's election campaign, donating $1 million in crypto assets, mostly Ethereum. The move is hailed as a significant contribution to the political arena, where cryptocurrencies are becoming an increasingly influential tool.
Trump support and policy criticism
Powell not only supported Trump financially, but also expressed sharp criticism of President Joe Biden's administration. He accused the current government of opacity and ineffectiveness in regulating the cryptocurrency sector, which, in his opinion, poses a threat to US competitiveness on the world stage. Powell noted that while other countries are actively developing clear rules for regulating cryptocurrencies, the Biden administration has chosen to ignore this issue, leaving it to the discretion of the executive branch.
Criticism of Elizabeth Warren and Gary Gensler
In his speech, Powell mentioned Senator Elizabeth Warren, known for her criticism of cryptocurrencies, as well as Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler. He emphasized that their policies limit innovation in the field of cryptocurrencies and create unnecessary barriers to the development of technologies.
Trump's support from crypto giants is not limited to Powell. Earlier, Cathie Wood, CEO of Ark Invest, also announced her intention to support Trump in the upcoming elections.
Powell's donation and his criticism of the Biden administration's current crypto policies have become clear examples of the influence of the cryptocurrency industry on political processes in the United States. Issues of regulation of cryptocurrencies remain relevant and require careful attention from legislators to ensure innovative development of the industry while maintaining high standards of safety and consumer protection.
