Federal Prosecutors Decline to Charge Kraken Founder Jesse Powell
- DOJ quietly ends Jesse Powell probe, no charges after two years of federal scrutiny
- Powell’s legal clash with Verge centered on disputed access to nonprofit’s digital tools
- Civil lawsuit continues as Powell seeks accountability over leaked FBI investigation
The Department of Justice has quietly closed its two-year investigation into Jesse Powell, the founder of cryptocurrency exchange Kraken. The move comes after federal agents raided his home and seized dozens of electronic devices in a high-profile event.
Although the raid suggested serious allegations, the matter centered on a dispute with a nonprofit Powell founded, not on any wrongdoing related to his crypto business. The dropped investigation now raises questions about the agency’s aggressive approach and how details of the case reached the media.
The case rooted in a nonprofit dispute, not crypto
At the center of the controversy is the Verge Center for the Arts, a Sacramento-based nonprofit Powell founded in 2008. While initial media reports claimed Powell had hacked and cyber-stalked the nonprofit, court filings later revealed the conflict was over access to digital accounts, specifically t…
The post Federal Prosecutors Decline to Charge Kraken Founder Jesse Powell appeared first on Coin Edition.
Federal Prosecutors Decline to Charge Kraken Founder Jesse Powell
- DOJ quietly ends Jesse Powell probe, no charges after two years of federal scrutiny
- Powell’s legal clash with Verge centered on disputed access to nonprofit’s digital tools
- Civil lawsuit continues as Powell seeks accountability over leaked FBI investigation
The Department of Justice has quietly closed its two-year investigation into Jesse Powell, the founder of cryptocurrency exchange Kraken. The move comes after federal agents raided his home and seized dozens of electronic devices in a high-profile event.
Although the raid suggested serious allegations, the matter centered on a dispute with a nonprofit Powell founded, not on any wrongdoing related to his crypto business. The dropped investigation now raises questions about the agency’s aggressive approach and how details of the case reached the media.
The case rooted in a nonprofit dispute, not crypto
At the center of the controversy is the Verge Center for the Arts, a Sacramento-based nonprofit Powell founded in 2008. While initial media reports claimed Powell had hacked and cyber-stalked the nonprofit, court filings later revealed the conflict was over access to digital accounts, specifically t…
The post Federal Prosecutors Decline to Charge Kraken Founder Jesse Powell appeared first on Coin Edition.