Kraken Founder Jesse Powell Cleared as FBI Drops Criminal Probe – Crypto Industry Breathes Easier

Feds walk away quietly after two-year investigation—no charges, no explanations. Just another day in crypto’s regulatory circus.

Subheader: The probe that wasn’t

The FBI’s case against Kraken co-founder Jesse Powell evaporated faster than a shitcoin’s liquidity. Sources confirm the investigation—reportedly tied to hacking allegations—closed without indictment. Powell’s lawyers call it 'total vindication.' Meanwhile, regulators keep swinging at crypto like a blindfolded piñata hitter.

Subheader: Winklevoss twins still waiting for their FBI closure

Powell’s exoneration drops as the SEC continues its warpath against other exchanges. Timing’s ironic—just as Wall Street banks get caught laundering billions (again), the feds drop a case against the guy who built a compliant exchange. The compliance budget at Kraken? Probably higher than your favorite altcoin’s market cap.

Closing thought: When the history books are written, 2025 might just be remembered as the year regulators realized chasing crypto founders was harder than explaining Tether’s reserves.