Entrepreneur and investor Jesse Powell has made a name for himself in the cryptocurrency space. Jesse Powell is the CEO and co-founder of Kraken cryptocurrency and this is the most recognizable accomplishment he made in the cryptocurrency exchange market. He is also the founder of Verge Center for the Arts.
Jesse Powell Kraken Net Worth
The net worth of Jesse Powell has not yet been verified online, but a report claims:
Powell bought a $11.5 million mansion in Mandeville Canyon, Los Angeles, in April 2019 – “all of it in cash.”
Jesse Powell was also named one of China’s 20 top blockbusters for 2021 by Cointelegraph.
|Full Name||Jesse Powell|
|Profession||Entrepreneur and investor|
|CEO||Kraken Cryptocurrency Exchange|
|Jesse Powell Kraken Net Worth||$11.5 Million (Last Updated 2022)|
Jesse Powell Biography
Jesse Powell was studying philosophy at California State University specializing in law and ethics, but he dropped out.
Powell developed a variety of career paths after university. In 2007, he established the Verge Gallery & Studio Project, the largest commercial art gallery in Sacramento by 2010.
Over time, he has also built a number of other businesses, including the Kraken crypto exchange, which he founded in 2011.
After Mt.Gox was hacked and failed, Kraken was founded
During 2011, the Mt.Gox exchange, one of the biggest cryptocurrency exchanges of that time, was hacked, and its assets were stolen. In the wake of this event, Powell heads to Tokyo to help Mt. Gox. Both he and his friend Roger Ve, a major cryptocurrency figure, worked on the failed Gox exchange. Powell explained about Mt’s alternative exchange to Bloomberg, saying:
“It was clear after that hack at Mt. Gox, when they were down for like a week, that the exchange is really the most critical piece of the ecosystem. I wanted there to be another one to take its place, if Mt. Gox failed.”
Mt. Gox went bankrupt in 2014, and Bloomberg reports that hackers stole an additional $ 473 million worth of cryptocurrency.
Powell founded the Kraken cryptocurrency exchange a month after his Tokyo trip in 2011, releasing the beta version of the exchange in May 2013. Finance Magnates reports:
“Aiming to offer more than just bitcoin trading, Kraken is launching with both bitcoin and XRB trading, with possible future additions of other digital and non-digital currencies plus commodities. In its beta form, the platform is available for practice trading with funded accounts expected next week. The platform will be offering an expected 10:1 leverage as well as short selling. Trading is accomplished through Kraken’s connection to multiple exchanges.”