Jesse Powell, co-founder of cryptocurrency exchange Kraken, has filed a lawsuit against a San Francisco co-op, claiming his home purchase attempt was blocked due to his crypto industry ties and political beliefs.
Details of the Lawsuit
Powell’s lawsuit was filed in San Francisco Superior Court against the board of the 2500 Steiner Street building, which houses 12 high-end residential units. Powell claims the board's refusal to accept his offer was discriminatory and without evident reasons. He argues that his political beliefs and professional connections should not lead to housing discrimination. The lawsuit notes that the board did not provide an apparent reason for rejecting Powell's offer.
Allegations on Purchase Refusal
Jesse Powell agreed to purchase the unit last year but needed approval from nine of the 11 non-selling co-op members and the board. He claims the board intentionally delayed the process to prevent the sale from being voted on. Shortly after, his bid was denied. The board cited financial concerns and the lack of a signed tax return. Powell argued that the tax return was unnecessary for the deal but provided additional financial documents. Nevertheless, the board and non-selling members rejected his bid without explanation late in 2024.
Jesse Powell's Donation
Meanwhile, Jesse Powell made headlines for his $1 million donation to the campaign of former U.S. President Donald Trump. This significant contribution, primarily composed of Ether, underscores his ongoing support for the digital currency landscape and Trump's political initiatives. The growing intersection between the cryptocurrency world and politics continues, and Powell's support for Trump is not entirely surprising given his previous endorsements.
Jesse Powell's lawsuit against the San Francisco co-op is pending, with the outcome yet to be seen. This case highlights the ongoing intersection of the crypto industry with various aspects of life.
