FBI Closes Investigation of Kraken Founder Jesse Powell

Reports indicate the Federal Bureau of Investigation (FBI) has ended its investigation into Jesse Powell, the founder of the US-based cryptocurrency exchange Kraken. The investigation, spanning nearly two years, was not directly related to cryptocurrencies.

FBI Ends Investigation

According to Fortune, the FBI has concluded its two-year investigation into Jesse Powell. The probe stemmed from a management dispute involving Verge, an arts non-profit organization founded by Powell.

In 2023, Powell faced accusations of hacking and cyberstalking Verge amidst a management disagreement with key executives. US authorities raided Powell’s home, seizing numerous cellphones and laptops as part of their investigation.

Powell filed a civil case against Verge last year, claiming the dispute centered on access to Slack and Google accounts. He stated he did not engage in stalking or limit account access, asserting that Verge's executive team sought to remove him from the board without proper notification.

The Justice Department has now closed the investigation and returned all seized devices to Powell. A filing suggests the devices contained evidence supporting Powell’s version of events.

Despite the investigation, Kraken has continued to introduce new product innovations and is still aiming for an IPO. The exchange has also expanded its tokenized US equities offering to the Binance Chain, enhancing multi-chain accessibility.

For platforms like Codeum, which focus on blockchain security and development, these events highlight the importance of secure and transparent management practices within the crypto space. Codeum offers services such as:

• Smart contract audits
• KYC verification
• Custom smart contract and DApp development
• Tokenomics and security consultation

These services help ensure that blockchain projects maintain integrity and security, which is vital for fostering trust and stability in the industry.