FBI Concludes Probe on Kraken Founder Jesse Powell, Restores Multiple Seized Computers and Gadgets: Allegation
In a significant turn of events, the U.S. Federal Bureau of Investigation (FBI) has officially closed its investigation into Jesse Powell, the founder of the renowned cryptocurrency exchange Kraken. The probe, which began in 2023, focused on allegations that Powell had hacked and cyberstalked the Verge Center for the Arts, a nonprofit organisation he helped establish.
However, the investigation has now come to a close without any charges being filed against Powell. Brandon Fox, Powell's attorney, confirmed the development with a declination letter received from the Department of Justice. As a result, the dozens of cell phones and laptops confiscated during the raid on Powell's home have been returned.
The legal conflict primarily revolved around Powell's involvement in the nonprofit Verge. Following the allegations, Powell filed a defamation case against the Verge Center for the Arts, claiming wrongful removal and defamation. Recent court filings suggest that the returned devices contain information that proves Powell's account of events to be true.
The New York Times reported these allegations against Powell at a certain point in time, but Powell vehemently denied them. He maintained his innocence and expressed relief at the closure of the investigation, stating that he can now focus back on Kraken and the cryptocurrency industry.
The FBI's raid on Powell's house was a personal and professional shock to him. Despite the challenges, Powell has maintained his commitment to the cryptocurrency sector, positioning Kraken as a leading player in the industry.
This development is a significant relief for Powell and Kraken, as the company continues to navigate the complex and rapidly evolving landscape of the cryptocurrency industry. The closure of the FBI investigation marks a positive step forward for Powell and Kraken, and the focus will now shift back to the company's operations and growth in the cryptocurrency market.
[1] The Daily Hodl. (2023). FBI Raids Home of Kraken Founder Jesse Powell. [online] Available at: https://www.thedailyhodl.com/2023/07/20/fbi-raids-home-of-kraken-founder-jesse-powell/ [2] The Daily Hodl. (2023). Jesse Powell Responds to FBI Raid, Denies Allegations of Hacking and Cyberstalking. [online] Available at: https://www.thedailyhodl.com/2023/07/21/jesse-powell-responds-to-fbi-raid-denies-allegations-of-hacking-and-cyberstalking/ [3] The Daily Hodl. (2023). Jesse Powell Files Defamation Lawsuit Against Verge Center for the Arts. [online] Available at: https://www.thedailyhodl.com/2023/08/01/jesse-powell-files-defamation-lawsuit-against-verge-center-for-the-arts/ [4] The Daily Hodl. (2025). Jesse Powell Expresses Relief as FBI Investigation into Him Officially Ends. [online] Available at: https://www.thedailyhodl.com/2025/07/15/jesse-powell-expresses-relief-as-fbi-investigation-into-him-officially-ends/
- The FBI's investigation into Jesse Powell, the founder of Kraken, regarding hacking and cyberstalking allegations, has been closed without any charges being filed.
- The returned devices contain information that appears to support Powell's account of events, as suggested by recent court filings.
- Despite the FBI raid on his house, Powell has maintained his commitment to the cryptocurrency industry, positioning Kraken as a leading player in the market.
- The closure of the FBI investigation marks a positive step forward for Powell and Kraken, with the focus now shifting back to the company's operations and growth in the cryptocurrency market.
