Kraken founder Jesse Powell has contributed $1 million to Donald Trump‘s presidential campaign, with the majority of the donation made in Ethereum (CRYPTO: ETH).

What Happened: Powell announced his support on his X account, stating, “I am excited to join other leaders from our community to unite behind the only pro-crypto major party candidate in the 2024 Presidential election.”

Trump has distinguished himself as a pro-crypto candidate during his campaign, recently announcing his acceptance of cryptocurrency donations.

He has advocated for all Bitcoin (CRYPTO: BTC) to be produced in the United States and has called for the country to become a leader in the cryptocurrency sector.

Despite these statements, he has yet to propose specific policies related to cryptocurrency.

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The subject was notably absent from the first presidential debate against President Joe Biden, despite efforts from the crypto community to bring it into the discussion.

Powell is not alone in his support for Trump from the crypto sector. The Winklevoss twins, founders of the Gemini exchange, also disclosed that they each donated $1 million to Trump’s campaign. However, some of their contributions were refunded to comply with donation limits.

What’s Next: For more insights and discussions on the future of digital assets and the impact of political developments on the crypto industry, stakeholders can look forward to Benzinga’s Future of Digital Assets event on Nov. 19.

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