Federal Prosecutors Close Inquiry Into Co-Founder of Kraken Crypto Exchange
In 2023, the F.B.I. searched Mr. Powell's home in Los Angeles as part of an investigation into claims that he had illicitly gained access to and interfered with the online accounts of Verge Center for the Arts, a Sacramento-based nonprofit. Mr. Powell started Verge in 2007, and its leadership removed him from the board of directors in 2022, citing violations of the organization's 'guiding principles.'
Mr. Powell later sued Verge for defamation and fraud.
In a letter last month from the U.S. attorney's office for the Northern District of California to Mr. Powell's representatives, which was reviewed by The New York Times, the U.S. attorney said 'an appropriately authorized investigation' was opened into 'allegations of criminal conduct,' and the investigation was closed in April. The U.S. attorney's office said it reserved the right to reopen the inquiry, according to the letter.
A representative for the U.S. attorney's office did not return a request for comment.
In a statement on Tuesday, Mr. Powell called the raid on his home 'devastating both personally and professionally' and vowed to continue his lawsuit against Verge.
'I will continue to pursue the appropriate legal remedies against those who created this disaster by making false statements to law enforcement,' he said.
Phillip Cunningham, a lawyer for Verge, declined to comment.
Mr. Powell helped build Kraken into one of the largest U.S. crypto exchanges. But he stepped down as chief executive in 2022 after The Times reported on how he incited debates about race and gender in the workplace. Shortly after, Verge tried to cut ties with its founder.
After Mr. Powell's dismissal, Verge accused him of blocking employees from using the organization's website, emails and internal messaging system, and accessing confidential information stored in those accounts, according to a 2022 letter from Mr. Cunningham to Kraken. Months later, the F.B.I. raided Mr. Powell's home.
David Yaffe-Bellany contributed reporting from New York.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
a few seconds ago
- Yahoo
Habit Burger & Grill Celebrates Newest Restaurant in Santa Clarita, California
New Drive-Thru Habit Restaurant to Open Doors on July 30; Hold Pre-Opening VIP Events on July 26, 28-29 Habit Burger & Grill Celebrates Newest Restaurant in Santa Clarita, California IRVINE, Calif., July 23, 2025 (GLOBE NEWSWIRE) -- Habit Burger & Grill, the California-based restaurant company renowned for its award-winning Charburgers grilled over an open flame, signature sandwiches, fresh salads, and more, announces today the launch of their latest restaurant opening in California with the Santa Clarita opening. The new restaurant's address is 16424 Village Way, Santa Clarita, CA 91387. Their famous 'Habit Hospitality' will be served to the public starting Wednesday, July 30, 2025. In honor of their grand opening, Habit Burger & Grill will host exclusive pre-opening VIP events for their CharClub and mobile app members. Guests can receive an invite to this exclusive sneak peek by signing up at VIP Event Details: Free Charburger Day (Saturday, July 26): The first 200 guests at 11:30 a.m. and 5:00 p.m. will receive a free freshly-made Charburger, fries and drink. Must be a CharClub member and present VIP invitation. Free Habit Day (Monday, July 28): The first 200 guests at 11:30 a.m. and 5:00 p.m. will receive a free chargrilled meal from one of our pre-set menus. Must be a CharClub member and present VIP invitation. Free Habit Day (Tuesday, July 29): The first 200 guests at 11:30 a.m. and 5:00 p.m. will receive a free chargrilled meal from one of our pre-set menus. Must be a CharClub member and present VIP invitation. "We have been waiting a while to open our Santa Clarita location, and we couldn't be more pumped to finally throw out the welcome mat,' said Chef Jason Triail, Executive Chef at The Habit. 'We know Santa Clarita is filled with a ton of things to do – amusement parks, festivals, summer concerts, and sports to name a few. This is a vibrant energetic city and Habit Burger & Grill can't wait to serve up our award-winning charburgers, sandwiches stacked high, and those amazing sides, like our Tempura Green Beans.' The latest Santa Clarita restaurant will offer dine-in, takeout; and delivery will be available via the Habit Mobile App and online at Guests also have additional convenient ordering options including state-of-the-art indoor self-serve kiosks and delivery through Grubhub, DoorDash, Postmates and Uber Eats. Habit Burger & Grill was named in Thrillist's list of 'Underrated Burger Chains that Need to be in Every State!' With its cooked-to-order mantra, Habit Burger & Grill's open flame sears a distinctive smoky flavor into their famous Charburgers, fresh marinated chicken, and sushi-grade ahi tuna. Guests at Habit Burger & Grill can always count on freshly-made, handcrafted quality served up with genuine hospitality. This Habit Burger & Grill restaurant will be open Mon-Sun 10:30 a.m. -10:00 p.m. Connect with Habit Burger & Grill on social media at: FB: IG: TikTok: LinkedIn: About The Habit Restaurants, Inc. Born in sunny Southern California in 1969, Habit Burger & Grill is known for Charburgers cooked-to-order over an open flame. But the menu extends far beyond burgers—it's a celebration of Californian-inspired flavors. Alongside the brand's signature Charburgers is a meaningful array of handcrafted sandwiches, crisp salads, and creamy shakes, ensuring there's something for everyone. Habit Burger & Grill has earned notable recognition, with its Double Char ranked #1 by USA Today 10Best*, its Tempura Green Beans named the #1 side by USA Today 10Best, and its Chicken Club recognized as the best grilled chicken sandwich by The Daily Meal. The brand was also featured in Newsweek's America's Favorite Restaurant Chains 2023 and included in Thrillist's roundup of Underrated Burger Chains that Need to be in Every State! Habit Burger & Grill has since grown to over 385 restaurants across 14 states and internationally—continuing to serve up bold fresh flavors, made-to-order. Learn more at Sources: USA Today 10Best, USA Today 10Best, The Daily Meal, Newsweek, The Daily Meal, Thrillist Habit Burger & Grill Press Contact: HBGMedia@ A photo accompanying this announcement is available at
Newsweek
2 minutes ago
- Newsweek
What a Viral Kidnapping Attempt Can Teach Women About Self-Defense
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. A young woman in Florida narrowly escaped kidnapping by fighting back against her attacker, drawing praise from law enforcement for her actions. Emma Marine, an 18-year-old from St. John's County, was working a shift at a local smoke shop when a man came in to use the bathroom for the second time in a day. After he came out of the bathroom, he reportedly went behind the counter of the shop and started grabbing and pocketing merchandise. Marine tried to stop the man from leaving the store, but he grabbed her in a headlock and dragged her toward his pick-up truck. Stock image of police tape around a crime scene. Stock image of police tape around a crime scene. Photo by Ajax9 / Getty Images Marine screamed repeatedly and fought back, eventually breaking free and making a run for it before a passerby helped her escape. When police officers arrived, the suspect had fled the premises, but he was later spotted driving recklessly and was arrested. He was then issued a number of charges. Why Marine Confronted The Man According to Marine, speaking to Action News Jax, she tried to stop the man because she feared for her job. "Less than a week before that, a customer had stolen something on my sister's shift, and [their boss] did threaten to fire her if it happened again, or he would take it out of her pay again," Marine explained. Later in the interview, she revealed that her boss had since let both her and her sister go, which she said was "pretty upsetting". "He just completely stopped talking to either of us," she added. 'Decisive and uninterrupted response' However, Marine's actions were lauded by law enforcement, who said she did "everything right" by fighting and screaming. Gloria Marcott is the founder and CEO of Soul Punch Self-Defense, which trains women in personal safety. According to Marcott, Marine "made a choice: survival". "The most powerful thing this young woman did was act immediately and fight for her life," Marcott told Newsweek. "She didn't try to rationalize with her attacker. She yelled, moved and kicked continuously. "That decisive and uninterrupted response is what saved her." 'Politeness won't save you' Chuck J. Rylant, a California-based expert witness in self-defense and Brazilian jiu-jitsu black belt who has been retained in hundreds of cases nationwide, told Newsweek that Marine "deserves credit for fighting back and making a lot of noise". "Humans are biologically wired to respond with fight, flight or freeze response in the face of danger," Rylant told Newsweek. "Unfortunately, the instinctual freeze response makes it easy for predators to victimize their prey." The "freeze" response is more likely if you haven't practiced self-defense, according to Marcott. "We are taught to be polite, but politeness won't save you," Marcott warned. "Disruption will. Our training helps women step into the mindset of: 'I'm not here to be quiet, I'm here to command my power and safety.' "We train them to be a force to be reckoned with." 'You can fight back' Marine told Action News Jax that her parents taught her to "always fight back". "I hope this can show other women and young females like myself that you can fight back, and it doesn't matter how small you are," Marine said. Marcott said the only thing she might have recommended Marine do differently would be to have a weapon in hand to create a "stopping action". "You don't need to be strong, fast or trained in martial arts to defend yourself," she noted. "You need layered safety strategies, an understanding of predator behavior and pre-attack indicators, the ability to interrupt their plan, and a way to force multiply your response in real time." Rylant told Newsweek the incident was reminiscent of a scene from the movie Ballerina, a spin-off of the successful John Wick franchise. "The mentor instructs the main character to 'fight like a girl', in which she means to fight dirty," Rylant told Newsweek. "This is the turning point in the movie where she begins to win."
Associated Press
2 minutes ago
- Associated Press
INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Centene Corporation (CNC) Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO, July 23, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that the Centene class action lawsuit – captioned Lunstrum v. Centene Corporation, No. 25-cv-05659 (S.D.N.Y.) – seeks to represent purchasers or acquirers of Centene Corporation (NYSE: CNC) securities and charges Centene and certain of Centene's top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Centene class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the Centene class action lawsuit must be filed with the court no later than Monday, September 8, 2025. CASE ALLEGATIONS: Centene is a healthcare enterprise that provides fully integrated services to government-sponsored and commercial healthcare programs, focusing on underinsured and uninsured individuals. The Centene class action lawsuit alleges that defendants throughout the Class Period created the false impression that they possessed reliable information pertaining to Centene's projected revenue outlook and anticipated growth while also touting enrollment rates and low morbidity. In truth, Centene's optimistic reports and promises regarding Centene's inflated guidance fell short of reality when a preliminary analysis of over two-thirds of Centene's marketplace share showed lower-than-anticipated enrollment and increased aggregate market morbidity, according to the complaint. The Centene class action lawsuit further alleges that, on July 1, 2025, Centene withdrew its 2025 guidance. Particularly, following an analysis of the 2025 Health Insurance Marketplace, Centene's overall market growth across 22 states, or 72% of Centene's marketplace membership, was lower than expected, according to the complaint. Centene also stated that this preliminary analysis resulted in a reduction of its previously issued guidance to approximately $1.8 billion or an adjusted diluted EPS of $2.75, the Centene class action lawsuit alleges. On this news, the price of Centene stock fell by more than 40%. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Centene securities during the class period to seek appointment as lead plaintiff in the Centene class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Centene class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Centene class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Centene class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected]
