FBI Ends Probe Into Kraken Co-Founder: Report
The FBI has concluded its investigation of Kraken co-founder Jesse Powell, returning seized property from a 2023 search of his home. The probe involved allegations of hacking and cyberstalking related to the Verge Center for the Arts, a nonprofit Powell co-founded, but was not linked to his role at Kraken or the cryptocurrency sector. Powell has denied any wrongdoing and initiated a civil lawsuit against members of Verge's board. The reasons for the investigation's closure by the Department of Justice and FBI were not disclosed. Powell has also become politically active, contributing $1 million in Ether to Donald Trump's campaign. Separately, the SEC had filed a complaint against Kraken in 2023 for operating without proper registration but dropped the case in March, reflecting a shift in the agency's regulatory approach towards crypto companies.
