FBI Drops Investigation of Jesse Powell
Date: 2025-07-23 Author: Oliver Abernathy Categories: IN WORLD
The US Federal Bureau of Investigation has completed an investigation into Jesse Powell, the co-founder of the Kraken cryptocurrency exchange, who was accused of illegally interfering with the work of the non-profit organization he created. This was reported by Fortune, citing official documents from the Department of Justice. During the investigation, all technical equipment seized during the searches - dozens of laptops and mobile phones - were returned to the owner.
The first information about this case appeared in July 2023, when The New York Times reported that the investigation began in the fall of 2022. Representatives of the Verge arts center claimed that Powell allegedly hacked the organization's computer systems, blocking access to email and other communications. The entrepreneur himself has always denied the accusations and even filed a civil lawsuit against members of the Verge board of directors.
In an interview with Fortune, Powell expressed relief that the investigation was over and stressed that he intends to continue litigation with representatives of the arts center. He noted that the FBI's search of his home had caused significant damage to both his personal life and professional activities. Powell emphasized that the accusations were unfounded and his innocence had already been confirmed in the defamation case against Verge.
In addition, in one of the recent court documents, Jess Powell stated that two members of the Verge board of directors who tried to remove him failed to provide important documents as part of the discovery procedure. The entrepreneur's lawyer, Brandon Fox, received an official "denial letter" from the Department of Justice confirming the termination of the investigation. The lawyer also said that he intends to seek compensation for the damage caused to Powell and his companies.
Recall that in 2022, Jess Powell left the post of CEO of Kraken, explaining his decision by the desire to focus on product development and protecting the interests of the industry as a whole. The case was a notable episode in his career, but now that the investigation has been closed, he can continue to work without regard for previous accusations.
