Department of Justice Drops Investigation Into Kraken Founder Jesse Powell: Report
Main Idea
The U.S. Department of Justice has dropped its investigation into Kraken founder Jesse Powell, following a previous raid and seizure of items, while the SEC also recently dismissed a case against Kraken for alleged unregistered securities operations.
Key Points
1. The Department of Justice has ended its investigation into Kraken founder Jesse Powell, returning seized items from a 2023 raid.
2. Powell expressed relief and refocused on Kraken after the investigation was dropped.
3. The SEC previously sued Kraken in 2023 for operating as an unregistered securities exchange, broker, dealer, and clearing agency.
4. The SEC case against Kraken was dismissed earlier this year as part of the agency's shift in regulatory focus.
Description
The United States Department of Justice has allegedly dropped its investigation against Kraken founder Jesse Powell, a Tuesday report from Fortune claims. Jesse Powell Vindicated In DOJ Probe, Report Indicates According to the July 22 report , federal agents raided Powell’s home in 2023 stemming from a “management dispute” over the nonprofit Verge Center for the Arts, which he co-founded back in the late aughts. The Department of Justice has since returned “dozens” seized from Powell’s home, inc...
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