FBI Ends Investigation Into Kraken Founder Jesse Powell: Report
The U.S. Department of Justice has closed its investigation into Jesse Powell, co-founder of crypto exchange Kraken. Powell expressed relief on social media, stating he is glad to have the matter resolved. The investigation stemmed from allegations that he hacked and cyber-stalked his nonprofit arts group, the Verge Center for the Arts. Reports indicated that numerous laptops and phones were returned to Powell following the investigation's conclusion. Powell criticized the situation as nonsensical and expressed gratitude for his legal team. The investigation occurred amid increased scrutiny of the crypto industry by U.S. authorities, particularly during President Biden's administration, which included lawsuits against several crypto firms, including Kraken, which paid a $30 million fine in 2023. The political landscape shifted with Donald Trump's campaign, which aimed to support the crypto industry, receiving backing from Powell and others.
