FBI Ends Probe Into Kraken Co-Founder: Report

The US Federal Bureau of Investigation (FBI) has reportedly ended its investigation of Kraken co-founder Jesse Powell and returned property belonging to him that was seized in a 2023 search of his house.

In accordance with a Tuesday Fortune report, the FBI had returned gadgets to Powell and ended its probe over allegations he had hacked and cyberstalked the Verge Middle for the Arts, a nonprofit he helped present in 2008.

The investigation, reportedly not related to Powell’s affiliation with Kraken, the cryptocurrency alternate he co-founded, or the crypto business, resulted within the FBI looking out his house and seizing digital gadgets that might have contained digital belongings. 

Studies recommended that Powell had been below investigation by US authorities since 2022. The Kraken co-founder repeatedly denied involvement within the alleged actions and filed a civil swimsuit in opposition to members of Verge’s board of administrators.

The report didn’t cite a cause the US Division of Justice and the FBI ended their investigation into Powell, who grew to become politically lively within the 2024 election after contributing $1 million in Ether (ETH) to then-presidential candidate Donald Trump’s marketing campaign.

Trump appointees Kash Patel and Dan Bongino at the moment head the FBI as director and deputy director, and Pam Bondi, additionally appointed by the president, leads the Justice Division as US Lawyer Basic.

Associated: Kraken’s Powell claims in lawsuit he was denied housing because of crypto ties

Kraken had been dealing with an SEC lawsuit

In 2023, the US Securities and Trade Fee (SEC) filed a criticism in opposition to Kraken, alleging the alternate had operated with out correct registration. Nonetheless, the company dropped the case in March below SEC Appearing Chair Mark Uyeda.