DOJ Drops Investigation Into Kraken Founder Jesse Powell
The U.S. Department of Justice has reportedly closed its investigation into Kraken founder Jesse Powell, according to a Fortune report. The probe, which began after federal agents raided Powell's home in 2023, stemmed from allegations related to a management dispute at the Verge Center for the Arts, a nonprofit he co-founded.
Authorities seized electronic devices from Powell but later returned them, signaling the end of the investigation. Powell has consistently denied the allegations, filing a defamation lawsuit against Verge's board members. The resolution appears to vindicate his claims of innocence.
"I knew I had done nothing wrong," Powell stated, expressing relief and gratitude for his legal team. His focus now shifts back to Kraken, the cryptocurrency exchange he leads.
