The U.S. Department of Justice has concluded its investigation into Jesse Powell, co-founder of the cryptocurrency exchange Kraken. Powell confirmed via social media that he is relieved to have the investigation behind him. The probe began after FBI agents raided his Los Angeles home in 2023, seizing multiple electronic devices, in relation to allegations that he had hacked and cyber-stalked his own nonprofit arts organization, the Verge Center for the Arts. Powell expressed his gratitude to his legal team and stated that the investigation never made sense to him. The inquiry was part of a broader crackdown by U.S. authorities on the cryptocurrency sector. Powell has been an outspoken figure in the crypto community, also contributing significantly to political campaigns. Following the drop of the investigation, Powell is now refocusing on his work with Kraken, which has also been navigating regulatory challenges in the crypto space. This outcome marks a significant turn for Powell as he aims to resume normal operations with the exchange amidst shifting dynamics in the cryptocurrency regulatory landscape.

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