Jesse Powell Cleared: DOJ Drops FBI Probe After Two Years

The U.S. Department of Justice has closed its investigation into Jesse Powell, the founder of cryptocurrency exchange Kraken, and returned dozens of electronic devices seized during a raid two years ago. The case was unrelated to Kraken’s operations and stemmed from a leadership dispute involving an arts non-profit founded by Powell.

According to previously released information, the FBI searched Powell’s home amid allegations of hacking and cyberstalking related to the non-profit. However, the investigation was ultimately dropped, with no formal charges brought against him.

Powell is a well-known figure in the crypto industry, as the co-founder of Kraken, one of the oldest cryptocurrency exchanges, currently preparing for a public listing. He is also recognized for openly expressing his political views on social media platforms.