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The US Justice Department has closed its investigation into Kraken founder Jesse Powell, returning seized devices from an FBI raid two years ago. The case stemmed from a governance dispute at a nonprofit Powell founded, not Kraken’s operations.
- The FBI raid and investigation were tied to a nonprofit governance dispute, not Kraken’s crypto operations.
- Powell is suing former Verge board members for defamation and withholding documents during discovery.
- Bitcoin’s price has risen from $23,000 to $119,000 since the devices were seized.
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