FBI ends probe of Kraken co-founder, returns confiscated devices

The investigation was reportedly not connected to Jesse Powell’s activities within the crypto industry.

The US Federal Bureau of Investigation (FBI) has reportedly ended its investigation of Kraken co-founder Jesse Powell and returned property belonging to him that was seized in a 2023 search of his home.

According to a Tuesday Fortune report, the FBI had returned devices to Powell and ended its probe over allegations he had hacked and cyberstalked the Verge Center for the Arts, a nonprofit he helped found in 2008.

The investigation, reportedly not connected to Powell’s association with Kraken, the cryptocurrency exchange he co-founded, or the crypto industry, resulted in the FBI searching his home and seizing electronic devices that could have contained digital assets.