Kraken CEO sues US corporation over cryptocurrency discrimination

Jesse Powell, founder and CEO of US cryptocurrency exchange Kraken, has filed a lawsuit against a San Francisco corporation, accusing it of refusing to sell a building due to his ties to the cryptocurrency industry.

Corporation Accused of Violating Laws

J. Powell's lawsuit alleges that the corporation conspired to thwart his efforts to purchase the property at 2500 Steiner Street in San Francisco, even though the transaction had already been completed with a seller who was willing to sell.

The document alleges that the corporation violated the California Fair Employment and Housing Act and the California Unruh Act and is liable to Powell.

A Long History of Discrimination

The cryptocurrency industry has long faced a lot of discrimination and attacks, especially from the Democratic administration of former President Joe Biden.

This opposition has come mostly from Democratic lawmakers, but it has also been felt by party supporters.

Mr. Powell claims that the Democratic-owned corporation decided to thwart his efforts to acquire the assets only after learning that he was the buyer.

He believes that the refusal to sell the assets is related to his deep involvement in cryptocurrencies and the conservative views associated with the Republican Party.

The opposition, according to the lawsuit, is led by Bruce Golden, who lived in the apartment.

“When Mr. Golden learned that Mr. Powell was the buyer, his behavior changed and, according to the information available to him, he blocked the transaction. Despite Mr. Powell’s determination to purchase the apartment and the sellers’ agreement to sell, Mr. Golden and the corporation had other plans,” the lawsuit says.

What is the Kraken founder asking for?

Mr. Powell is asking the court to enter a judgment in his favor for the apartment and award compensatory damages, penalties, attorneys’ fees and other costs related to the case.

He is also seeking an award of pre- and post-judgment interest to the extent permitted by law, and any other relief the court deems appropriate.