US Justice Department Closes Kraken Founder Investigation

In a recent development, the US Justice Department has officially closed its investigation into Kraken founder Jesse Powell. According to Fortune's report, all devices seized by the FBI back in 2022 have been returned to Powell.

For more detailed coverage of this story, read about how the FBI drops probe into Kraken founder Jesse Powell and returns devices with additional context and analysis.

The investigation reportedly focused on a governance dispute at the Verge Center, rather than any issues related to Kraken's cryptocurrency exchange operations. This conclusion brings resolution to a case that had been pending for nearly two years.

Industry observers note that the closure of this investigation without charges represents a positive outcome for Powell and may help alleviate some regulatory concerns in the cryptocurrency sector.