Crypto Giants Kraken and Blockchain Dive into Trump-Linked Lobbying

Crypto firms Kraken and Blockchain.com hired Trump-linked lobbying firm Ballard Partners for policy advocacy. With increasing business post-election, Ballard's Trump connections raise ethical concerns. The crypto industry seeks clarity on legal statuses under Trump's favorable climate, with Ripple also engaging Ballard. Former officials linked to Ballard hold influential appointments.

Cryptocurrency giants Kraken and Blockchain.com have engaged with Ballard Partners, a lobbying firm closely associated with former President Trump, aiming to influence crypto policy. This move is part of a broader industry push for legal clarity under Trump's administration.

The lobbying firm, founded by Trump ally Brian Ballard, faces scrutiny over ethical conflicts as two former partners now hold significant government positions. Kraken and Blockchain.com each paid Ballard $60,000 for lobbying in the final weeks of the election year, joining a growing list of corporations leveraging Trump's political connections.

This trend emerges amid the crypto sector's legal battles with financial regulators and after a substantial increase in Ballard's clientele, with 40 new clients post-election. Additionally, Ripple Labs, another prominent crypto entity, has also joined Ballard's client roster.

(With inputs from agencies.)