Jesse Powell, the co-founder of Kraken, one of the leading centralized cryptocurrency exchange house, was searched by the United States Federal Bureau of Investigation (FBI) on the claims of hacking and cyber-stalking by a nonprofit art group.
The information was first reported by The New York Times that Jesse interfered with computer accounts by barring access to emails and other messages from the contributors of the Verge Centre for Arts- a nonprofit organization established by Jesse.
The information about the house search was revealed by three people aware of the matter; they also mentioned the FBI had been constantly investigating Jesse since September 2022.
Notably, numerous electronic devices were seized during the search operation from Jesse’s house in Brentwood, Los Angeles. However, the prosecutors have not accused the Kraken co-founders of any crime.
Brandon Fox, the defending attorney of Jesse, noted the search operation and other investigation proceedings mainly focused on allegations imposed on non profit organizations that have nothing to do with Jesse.
One of the spokespersons of Kraken also confirmed the allegations made against their co-founder are not proven, and he has nothing to do with the “cryptocurrency arena.”
The Linkedin profile of Jesse Powell notes he held the position of the founder and CEO at Verge Gallery & Studio Project from 2007 to 2010, and from April 2010, he started working as the founder and board member of the nonprofit.
After working for 11 years and ten months as the co-founder and CEO of Kraken, he left his position in April 2023. Before joining Kraken, Powell worked as the co-founder and CEO of Lewt, Inc.
Significant Events of Kraken in 2023
On July 2, 2023, TheCoinRepublic reported the Federal Court summoned crypto exchange Kraken to provide an array of data about its users to the IRS. The United States District Court of North California ruled on July 1, 2023, that the crypto exchange must share its users’ details with the Internal Revenue Service.
JUST IN: 🇺🇸 IRS orders Kraken #crypto exchange to turn over its users’ information.
— Watcher.Guru (@WatcherGuru) June 30, 2023
The crypto exchange must now provide complete documentation of any user who bought, sold, or traded digital assets over $20,000 between 2016 and 2020. The documentation shall comprise name, taxpayer identification number, phone number, physical address, transactional ledger, and email address.
Kraken signed a sponsorship deal with the F1 William Racing team on March 28, 2023. William Racing is among the top racing teams, including Ferrari, McLaren and Mercedes. This is Kraken’s first partnership in the F1 racing world.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/07/fbi-searched-former-kraken-ceo-house-in-march-report/