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Kraken bets $2 million to protect digital freedom in the US
Kraken invests $2 million in pro-crypto PACs to promote digital freedom as the US economy weakens.
Kraken bets $2 million to protect digital freedom in the US
Kraken, one of the leading cryptocurrency exchanges, took a significant step on October 5, 2025 to strengthen lobbying for the crypto industry in the US. Kraken co-CEO Arjun Sethi announced a $2 million commitment to two pro-crypto political action committees, the Freedom Fund and America First Digital. This donation should be seen as a commitment to digital freedom, even though both PACs predominantly support Republican candidates and Donald Trump. Sethi explained that Kraken will allocate $1 million each to both committees.
The announcement comes at a time when the cryptocurrency market has grown 45% year-to-date, with a current market capitalization of over $4 trillion. Still, polls suggest that a majority of Americans believe the economy is on the wrong track. According to a Reuters/Ipsos poll, Trump's approval rating is at 41%.
Commitment to principles
Sethi emphasized that Kraken does not support any specific political camp, but advocates for core principles such as self-custody and decentralized systems. He highlighted concerns about regulatory overreach and bans on privacy tools, which continue to pose a challenge for the crypto industry.
In the past, the crypto industry has already invested $160 million in lobbying expenses last October, which contributed to more favorable regulatory conditions. In the upcoming midterm election, crypto PACs have raised a total of $140 million, primarily to support candidates with pro-crypto agendas.
Political milestones
One of the most significant developments in this regard is the GENIUS Act, a major pro-crypto bill introduced by Senator Bill Hagerty and passed with bipartisan support. In this context, Kraken is benefiting from regulatory progress, including the SEC's dismissal of a lawsuit against the company in March.
Arjun Sethi made it clear that the fight for cryptocurrencies in the US continues. As regulators become more vigilant, it remains crucial to stand up for the principles and freedoms of crypto users.