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Kraken founder beats FBI charges - here's what it means for crypto IPOs

Reading time: 2 min • Jul 22, 2025, 04:10 PM (UTC)

Key Points

  • The FBI has dropped its investigation into Kraken founder Je...

The FBI just handed Jesse Powell the ultimate "my bad" letter, officially dropping their investigation into the Kraken founder after seizing his devices and turning his life upside down for months. Turns out, the whole cyber-stalking and hacking drama stemmed from a nonprofit squabble that makes your office politics look like a friendly chess match.

Powell, who's never been one to whisper his opinions, found himself in hot water over his role in the Verge organization - an arts nonprofit he founded in Sacramento. The feds raided his home based on allegations that, surprise surprise, turned ou...

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