FBI Ends Investigation Into Kraken Founder Jesse Powell: Report
Main Idea
The U.S. Department of Justice has dropped its investigation into Kraken co-founder Jesse Powell, who expressed relief and criticized the investigation as nonsensical.
Key Points
1. Jesse Powell announced on X that the DOJ investigation into him has been dropped, allowing him to refocus on Kraken.
2. The investigation, which began in 2023, involved FBI agents raiding Powell's home and seizing devices, though the reasons were unclear.
3. Powell criticized the investigation, comparing it to the ongoing trial of Tornado Cash developer Roman Storm, which he also deemed illogical.
4. The NYT initially reported the investigation was related to allegations of Powell cyber-stalking his nonprofit arts group and blocking email access.
5. Kraken, under Powell's leadership, previously settled with the SEC for $30 million in 2023, but regulatory pressure has eased under the current administration.
Description
Feds have dropped an investigation into Kraken co-founder Jesse Powell, he said Tuesday, over allegations levied by a nonprofit he started.
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