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According to a report from The New York Times on July 6, the Federal Bureau of Investigation (FBI) conducted a search of Kraken co-founder Jesse Powell’s home in March as part of an investigation into allegations of hacking and cyber-stalking against a nonprofit arts group.The Verge Center for the Arts, which Powell founded, claimed that he had interfered with computer accounts by blocking access to emails and other messages from contributors.Three individuals with knowledge of the matter informed The NYT that the FBI, along with the U.S. Attorney’s Office for the Northern District of California, had been investigating Powell since at least September 2022.READ MORE: <a href="https://www.cryptointelligence.co.uk/larry-fink-advocates-for-crypto-fuels-hopes-for-bitcoin-etf-amid-regulatory-uncertainty/" rel="noopener noreferrer nofollow">Larry Fink Advocates for Crypto, Fuels Hopes for Bitcoin ETF Amid Regulatory Uncertainty</a>During the search, electronic devices were seized from Powell’s home in Brentwood, Los Angeles.However, it is important to note that prosecutors have not formally charged Powell with any crimes.Powell’s lawyer, Brandon Fox, stated that the investigation primarily focused on the allegations made by the nonprofit and was unrelated to Powell’s involvement in the cryptocurrency arena.This statement was reportedly supported by a spokesperson from Kraken.When approached for comment, Jesse Powell did not immediately respond to Cointelegraph’s request.Powell founded the Sacramento-based arts group in 2007, although his LinkedIn profile indicates that he has been working as a founder and board member since April 2010.Kraken, the cryptocurrency exchange co-founded by Powell, currently holds the position of the second largest U.S.-based exchange, trailing behind Coinbase according to CoinMarketCap.However, in February, Kraken faced enforcement action from the U.S. Securities Exchange Commission (SEC) for its failure to register the offer and sale of their staking service program.As a result, Kraken reached a settlement with the SEC, agreeing to pay a substantial $30 million fine.The investigation into Jesse Powell’s alleged activities involving the Verge Center for the Arts is ongoing, and it remains to be seen whether any charges will be brought against him in relation to these accusations.<a href="https://www.cryptointelligence.co.uk/category/news/" rel="noopener noreferrer nofollow">Crypto News Today</a>

FBI Raids Kraken Co-Founder Jesse Powell’s Home

Crypto Intelligence

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