FBI Ends Investigation Into Kraken Founder Jesse Powell, Returns Seized Devices

HKAN | Jul 23

JUST IN: FBI Ends Investigation Into Kraken Founder Jesse Powell

 

The FBI has officially closed its investigation into Jesse Powell, the co-founder of Kraken cryptocurrency exchange, and has returned dozens of computers, laptops, and other devices that were previously seized during the probe.

 

The investigation, which began in 2022, focused on allegations that Powell had improperly accessed digital accounts belonging to a nonprofit organization he founded. Importantly, the case was not related to Kraken or its business activities.

 

Background on the Case

The FBI initiated the investigation following claims that Powell interfered with the nonprofit’s digital systems. In 2023, agents executed a search of his home and took possession of various electronic devices as part of the inquiry.

 

After more than two years of review, authorities have now decided to close the case without filing criminal charges, and all of the confiscated devices have been returned to Powell.

 

Powell Responds

In his response, Powell described the FBI’s actions as disruptive and unfounded. He has maintained his innocence throughout the process and has filed civil claims alleging that the accusations made against him were false and damaging.

 

What This Means

The closure of the investigation lifts a significant cloud of uncertainty around Powell, allowing him to focus on his professional and personal pursuits. The resolution also removes any lingering regulatory concerns for Kraken, as the case was unrelated to the company’s operations.