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The recent news surrounding the conclusion of a two-year investigation into Jesse Powell, the founder of Kraken, serves as a significant relief for both Powell and the company he leads. The Federal Bureau of Investigation (FBI) has officially brought an end to their inquiry, finding no evidence of wrongdoing or misconduct related to cryptocurrency activities.
In 2023, the FBI launched an investigation into Powell’s dealings with the non-profit organization Verge Center for the Arts, which Powell had founded. This probe was focused on a management dispute and allegations of access to digital accounts, not involving any crypto-related transactions. The agency has now concluded its inquiry without filing charges against Powell.
Notably, the seized electronic devices contained data supporting Powell’s account of events surrounding his departure from Verge’s board. Following an extensive review, the Department of Justice has ended its investigation and returned all digital devices, effectively bringing closure to a legal dispute that may have caused uncertainty for Kraken users and investors alike.
The incident did not affect Kraken’s business operations or daily activities, with the company maintaining a steady growth rate despite the ongoing probe. This development is likely to be viewed as a significant positive indicator for Kraken’s long-term vision and potential future public listing.
In conclusion, it can be seen that the FBI has officially closed its investigation into Jesse Powell without any charges filed against him.
Source: coincentral.com
