Kraken Donates $1 Million to Blockchain Advocacy Group Coin Center

Jesse Powell, CEO of the cryptocurrency exchange Kraken, donated $1 million to the nonprofit Coin Center on Monday night at the advocacy organization's annual gala in New York City.

Kraken also pledged to match any donation to Coin Center until the end of the month, up to $1 million.

It was the biggest single donation made to Coin Center, said Neeraj Agrawal, a spokesman for the Washington, D.C.-based think tank.

Kraken, based in San Francisco, is no stranger to the regulatory minefield Coin Center strives to defuse and build bridges across.

In April, Kraken was one of 13 exchanges that received an inquiry regarding "Internal controls and safeguards to protect consumer assets" from former New York Attorney General Eric Schneiderman.

Kraken's donation won Powell a round of applause.

Almost as warmly received was the litany of cryptocurrency-themed jokes delivered by Coin Center's director of research, Peter Van Valkenburgh.

"For cryptocurrency enthusiasts, this translates pretty directly to: free coins! And I'd add that, to their tax attorney, this translates to: 'fuck.'".

Coin Center director Jerry Brito said a representative from the nonprofit has attended every congressional hearing related to cryptocurrency since 2013.

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