{"id":38355,"date":"2025-07-23T12:31:58","date_gmt":"2025-07-23T12:31:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=38355"},"modified":"2025-07-23T12:31:58","modified_gmt":"2025-07-23T12:31:58","slug":"us-doj-drops-investigation-into-kraken-founder-jesse-powell","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=38355","title":{"rendered":"US DoJ Drops Investigation Into Kraken Founder Jesse Powell"},"content":{"rendered":"<div>\n<p>The U.S. Department of Justice (DoJ) has officially dropped its investigation into Jesse Powell, co-founder of Kraken, following allegations of hacking a nonprofit organization. The case, unrelated to Kraken\u2019s operations, concluded without charges, with Powell\u2019s seized devices returned earlier this year.<\/p>\n<p>The probe, which began in 2023, centered on claims Powell hacked Verge Center for the Arts, a Sacramento nonprofit he co-founded. The DoJ\u2019s decision, finalized in April 2024, was confirmed in June, allowing Powell to pursue legal remedies against accusers.<\/p>\n<h2>Investigation Timeline and Allegations of US Kraken Co-Founder<\/h2>\n<p>The investigation into Jesse Powell began in 2023 after the Verge Center for the Arts, a nonprofit he co-founded, accused him of hacking its computer system. Powell had been removed from Verge\u2019s board in 2022 following a management dispute, and the nonprofit alleged he blocked employee access to emails, websites, and internal communication tools.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/FBI?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#FBI<\/a> raids ex-Kraken CEO Jesse Powell&#8217;s home in <a href=\"https:\/\/twitter.com\/hashtag\/cyber?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#cyber<\/a> stalking probe against Verge Center for the Arts.<a href=\"https:\/\/twitter.com\/hashtag\/Cryptocurency?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#Cryptocurency<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#CryptoNews<\/a> <a href=\"https:\/\/twitter.com\/jespow?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">@jespow<\/a> <a href=\"https:\/\/t.co\/2NilTnivn2\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/2NilTnivn2<\/a><\/p>\n<p>\u2014 Crypto Luster (@CryptoLstr) <a href=\"https:\/\/twitter.com\/CryptoLstr\/status\/1677582280083099648?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">July 8, 2023<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<p>These allegations led to a raid by the FBI on Powell\u2019s Los Angeles home in 2023, during which computers, laptops, and phones were seized.<\/p>\n<p>Despite extensive scrutiny, federal prosecutors concluded in April 2024 that there was no evidence of criminal activity. The U.S. Attorney\u2019s Office issued a \u201cdeclination letter\u201d in June 2024, formally ending the case and authorizing the return of Kraken co-founder devices.<\/p>\n<p>Reports from leading media confirmed that the probe was unrelated to Kraken\u2019s operations and was purely tied to Powell\u2019s dispute with Verge executives. Powell, who had donated over $1 million to the non-profit, maintains that the allegations were false and part of a conspiracy against him.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> BREAKING: FBI drops probe into Kraken founder Jesse Powell and returns seized devices. <a href=\"https:\/\/t.co\/gnDLfse1qr\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/gnDLfse1qr<\/a><\/p>\n<p>\u2014 Cointelegraph (@Cointelegraph) <a href=\"https:\/\/twitter.com\/Cointelegraph\/status\/1947681793718763721?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">July 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/strong><\/p>\n<p>The closure of the case came as a relief for Powell, who has stated that the investigation caused reputational harm to both him and Kraken. The timeline from 2022 through mid-2025 highlights the prolonged nature of the allegations.<\/p>\n<p>Now Jesse Powell has focused on clearing his name through civil litigation against Verge\u2019s board members.<\/p>\n<h2>Implications for Powell and Kraken<\/h2>\n<p>The resolution of the DoJ\u2019s investigation marks a turning point for Powell. He remains committed to pursuing civil lawsuits to address the accusations. Powell\u2019s attorney emphasized that the declination letter was critical in restoring Powell\u2019s reputation.<\/p>\n<p>That also affected Kraken\u2019s prominent role in the volatile crypto industry. While the case did not involve Kraken directly, market sentiment and public perception were affected. Powell publicly denied all claims and sought accountability from those he believes defamed him.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> FBI drops investigation into Kraken founder Jesse Powell<\/p>\n<p>The case wasn\u2019t about Kraken or crypto, it stemmed from a dispute with a nonprofit he founded.<\/p>\n<p>His seized devices have been returned, and Powell is now moving forward with his defamation lawsuit.<a href=\"https:\/\/twitter.com\/hashtag\/Kraken?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#Kraken<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/JessePowell?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#JessePowell<\/a> <a href=\"https:\/\/t.co\/4peVHdgIkh\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/4peVHdgIkh<\/a><\/p>\n<p>\u2014 CRYPTOMOJO_TA (@CRYPTOMOJO_TA) <a href=\"https:\/\/twitter.com\/CRYPTOMOJO_TA\/status\/1947738684637515961?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">July 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">20+ Next Crypto to Explode in 2025<\/a><\/strong><\/p>\n<p>The legal battle underscores the complex intersection of personal disputes and professional reputation in the crypto sector. Powell claims the allegations hurt his reputation during a period of intense crypto growth.<\/p>\n<p>With <span style=\"font-weight: 400\"><a class=\"cpp-widget-coin cpp-widget-99btc\" href=\"https:\/\/99bitcoins.com\/goto\/bestwallet\" target=\"_blank\" rel=\"nofollow sponsored\" data-symbol=\"btc\" data-name=\"Bitcoin\" data-price=\"118037.000000000000000\" data-change=\"-0.43\" data-chart-style=\"99btc\" data-cta_text=\"Buy with Best Wallet\" data-cta_link=\"https:\/\/99bitcoins.com\/goto\/bestwallet\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\">BTC <span style=\"color: #ef4546;\">\u25bc-0.43%<\/span><\/a> prices surging from around $23,000 in 2023 to approximately $120,000 in mid-2025, Powell\u2019s ability to focus on business operations has been essential for Kraken\u2019s ongoing success.<\/span><\/p>\n<p>Looking forward, Powell plans to continue legal actions against Verge board members to prove the accusations were false. The dropped investigation clears him of any criminal suspicions. It also gives him momentum to rebuild public trust and strengthen Kraken\u2019s reputation.<\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in 2025<\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow nofollow nofollow nofollow\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        DoJ dropped the case against the U.S. Kraken founder.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Jesse Powell continues with defamation against Verge.     <\/li>\n<\/p><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/us-doj-drops-investigation-into-kraken-founder-jesse-powell\/\">US DoJ Drops Investigation Into Kraken Founder Jesse Powell<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Department of Justice (DoJ) has officially dropped its investigation into Jesse Powell, co-founder of Kraken, following allegations of hacking a nonprofit organization. The case, unrelated to Kraken\u2019s operations, concluded without charges, with Powell\u2019s seized devices returned earlier this year. The probe, which began in 2023, centered on claims Powell hacked Verge Center for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-38355","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38355"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/38355\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}