Federal authorities have eliminated criminal investigation into Jesse Powell, co -founder and former CEO of Cryptocurrency Exchange Kraken.
The FBI investigation, which began in 2023, was investigating the non -profit accusations Verge Center for the Arts that Powell pirate his computer accounts and obstructed access to emails. His home was also recorded when research and computers, laptops and cell phones began were seized at that time, the New York Times reported last year.
In April of this year, federal prosecutors informed Powell’s lawyer, Brandon Fox, that the Government had completed their investigation into the border accusations and was not presenting criminal charges against Powell, according to the documents presented to the Superior Court of the State of California. The prosecutors also said that at the time they would return the devices they had taken from Powell’s house, Fox said.
On June 9, his lawyer later received a letter from the Office of the United States Prosecutor for the Northern District of California, confirming that the Federal Government had closed this investigation on April 8 of this year. Initially, Fox requested this letter sent to Powell.
“FBI’s foray into my house was devastating both personally and professionally. It is still shocking that the raid was based on the Verge center for the accusations without the foundation of art against me,” Powell said in a statement.
“I will continue to chase the appropriate legal resources against those who created this disaster by making false statements to the police,” he added.
The closure of the case occurs when Kraken supports the possibility of an initial public offer in the first quarter of 2026. Powell resigned as the CEO of the exchange in 2023 according to his LinkedIn, but remains on his board of directors.
Kraken is still one of the largest encryption exchanges based in the US and has been the objective of the increase in regulatory scrutiny in recent years. In 2023, it was resolved with the stock and values commission and closed its rethinking services of the United States.
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