Kraken Co-founder Jesse Powell Cleared of Hacking Allegations Following FBI Probe

Hacking charges against Jesse Powell, co-founder of the cryptocurrency exchange Kraken, have been dropped following an extensive investigation by the Federal Bureau of Investigation (FBI). The charges were formally dismissed after investigators were unable to find sufficient evidence to support the allegations of unauthorized computer access. The case had been ongoing for several months, during which the FBI reviewed relevant data and testimonies to determine whether Powell had indeed violated cybersecurity laws. This decision marks the end of a prolonged period of uncertainty for Powell, who has consistently maintained his innocence. The investigation was reportedly initiated based on information received by the FBI, which suggested that Powell may have utilized his technical skills for unauthorized access to computer systems. However, after a thorough review of all available evidence, the FBI concluded that there was not enough legal basis to pursue the case further. Powell’s legal representatives commented on the decision, stating that they were grateful for the outcome and believed that justice had been served. They also noted that Powell had been cooperative throughout the investigation and was confident that his name would ultimately be cleared. Powell is now expected to return to focusing fully on his role at Kraken and other technological ventures in which he is involved.