Inquiry ends into Kraken co-founder

The Justice Department said it recently ended a criminal investigation into Jesse Powell, a co-founder ofthe Kraken cryptocurrency exchange, according to court documents.

- RYAN MAC

In 2023, the FBI searched Mr Powell’s home in Los Angeles as part ofan investigation into claims that he had illicitly gained access to and interfered with the online accounts of Verge Center for the Arts, a Sacramento-based nonprofit. Mr Powell started Verge in 2007, and its leadership removed him from the board of directors in 2022, citing violations of the organisation's “guiding principles.”

Mr Powell later sued Verge for defamation and fraud.