FBI Concludes Probe into Kraken Founder Jesse Powell, Returns Seized Devices
The U.S. Department of Justice has closed its investigation into Kraken founder Jesse Powell, marking the end of a legal saga unrelated to his cryptocurrency exchange. The FBI returned a dozen devices seized during a 2023 raid on Powell's home, which stemmed from allegations of cyberstalking and hacking tied to his involvement with the Verge Center for the Arts, a non-profit organization.
Powell claims the Verge board unlawfully removed him after his $1 million donation, locking him out of accounts and domains. The investigation centered on whether he improperly regained control of the organization's website. The probe's leak to the New York Times had raised questions about potential political motivations, given Powell's outspoken stance on regulatory issues.
