FBI concludes investigation into Kraken's Jesse Powell, returns seized devices without pressing charges.
a16z Crypto leads $15M funding round for Poseidon, a startup building a decentralized AI data layer.
Telegram launches TON Wallet in the US, enabling users to send, receive, and manage digital assets within the app.
Today, some major developments headlined the crypto market. The FBI concluded its investigation into Kraken co-founder Jesse Powell, returning confiscated equipment. In another update, a16z Crypto, the crypto investment division of a16z and founded by Powell, successfully raised $15 million in a seed round for Poseidon, a startup focused on decentralized AI data. Additionally, Telegram has launched the TON Wallet for users in the U.S., offering them enhanced blockchain-based features within the app. Check out our Crypto news today:
The Federal Bureau of Investigation has concluded its investigation into Jesse Powell, co-founder of the crypto exchange Kraken, and has returned devices seized during a 2023 search. The case was unrelated to Powell’s involvement in Kraken or any cryptocurrency activity. Instead, the inquiry centered on allegations of hacking and cyberstalking linked to the Verge Center for the Arts, a nonprofit Powell co-founded.
According to Fortune, the FBI began investigating Powell in 2022 and searched his home the following year. Although authorities seized electronic devices that may have contained digital assets, no charges emerged. Powell denied the allegations and filed a civil suit against members of the Verge board. No official explanation was provided for the termination of the case.
While the FBI’s investigation was ongoing, Powell made headlines for donating $1 million in Ethereum to Donald Trump’s 2024 presidential campaign. The return of his devices and the closure of the probe ended a non-crypto-related legal matter that had drawn attention across tech and political circles.
Venture firm a16z Crypto led a $15 million funding round for Poseidon, a San Francisco-based startup building a decentralized data layer for AI model training. The project addresses the growing shortage of high-quality, IP-cleared data in artificial intelligence, which has now replaced compute power as the primary development bottleneck.
Poseidon plans to build a decentralized data pipeline that compensates contributors and safeguards developers from intellectual property risks. The platform also integrates with Story Protocol, an on-chain licensing platform, which enables data contributors to receive transparency and monetization. The funds will help the company expand its infrastructure and launch SDKs, contributor tools, and licensing modules.
The startup aims to meet the demand for highly contextual data in Artificial Intelligence applications, such as robotics and spatial computing. Meanwhile, a16z partner Chris Dixon described the project as a step toward a more equitable internet economy, where data suppliers receive rewards for enabling the development of AI.
Also Read: Crypto Prices Today: Mixed Performance as Bitcoin Dips Below $118,000 While Solana Surges 8.53%
Telegram has begun offering its integrated crypto wallet to users in the United States, marking a significant expansion of its blockchain ecosystem. Built on The Open Network (TON), the wallet allows users to send, receive, and manage digital assets within the Telegram app. It functions as a self-custodial wallet, giving users complete control of their private keys.
USDT, Toncoin, and other TON-based tokens can be stored in the wallet. It allows peer-to-peer exchange with an illusion of sending ordinary messages. Moreover, users can deposit tokens, exchange them through built-in tools, and buy crypto without any commissions using Apple Pay, Google Pay, or credit cards through MoonPay.
Telegram has also added a direct off-ramp, allowing users to withdraw cryptocurrency to bank cards. Egor Danilov, the Chief Product Officer at the Open Platform, stated that the wallet links users with TON Mini Apps. More than 100 million Telegram users enabled the wallet in 2024, and the US market provides significant potential for additional growth.
Also Read: Ethereum Price Prediction: Will It Reach $15,000 by Year-End?
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