**Kraken and Blockchain. com Collaborate with Trump-Connected Lobbyists** By Douglas Gillison (Reuters) - The firms behind the cryptocurrency exchanges Kraken and Blockchain. com have entered into partnerships with the lobbying firm Ballard Partners, which is linked to former President Trump, according to records reviewed after November's elections. Ballard Partners, founded by lobbyist and Trump fundraiser Brian Ballard, has faced scrutiny lately due to potential ethical conflicts raised by Trump’s appointment of two former partners, Susie Wiles and Pam Bondi, to important roles within the administration. Records indicate that both Payward Inc. (the legal name for Kraken) and Blockchain (US) Inc. (part of the Blockchain. com family) engaged Ballard in December, collectively disbursing $60, 000 for lobbying services focused on cryptocurrency policies during the last weeks of the year. A representative from Kraken noted that the company does not disclose its relationships with other firms.

They stated, "As part of our global policy engagement efforts, we work with several lobbying firms in our key markets, " according to the spokesperson. Neither Blockchain. com nor the White House responded to requests for comments, nor did Ballard Partners, which serves clients from various sectors, including oil, finance, technology, and pharmaceuticals. Since Trump's victory in November, Ballard's business has surged, adding 40 new clients—surpassing the total from the preceding 10 months, as shown in lobbying disclosure records. As is typical with many lobbying firms in Washington, Ballard has openly acknowledged its connections to power. Partner Justin Sayfie remarked in April that "Many members of our firm have been longtime allies" of Trump. Amid previous confrontations with former President Joe Biden’s regulators, the cryptocurrency sector is now advocating for significant policy reforms and legislation under Trump’s administration that would clarify the legal framework surrounding cryptocurrencies, facilitating their broader acceptance. Like various other leading cryptocurrency firms, Kraken is currently involved in legal disputes with the Securities and Exchange Commission, which filed a lawsuit in 2023, alleging that the company failed to register with the regulatory body. Ripple Labs, a prominent crypto firm and issuer of the XRP token, also engaged Ballard eight days following the election, as reported in the records and initially highlighted by Politico. A Ripple spokesperson confirmed the firm’s retention of Ballard but did not elaborate on the reasons behind the decision. Before hiring Ballard, Blockchain. com had not utilized a Washington lobbying firm for six years. U. S. -based Kraken engages one additional firm and employs in-house lobbyists, as per the records. Following former Florida lawmaker Matt Gaetz’s withdrawal from nomination consideration, Trump appointed Bondi as his choice for Attorney General, while Wiles has taken on the role of White House chief of staff. In an ethics agreement filed with the Justice Department this month, Bondi, who continued her lobbying work with Ballard until late 2024, stated that if confirmed, she would consult with an agency ethics official to navigate any potential conflicts of interest. (Reporting by Douglas Gillison; Editing by Michelle Price and Bill Berkrot) **Recommended Stories**