**Kraken and Blockchain. com Engage Trump-Connected Lobbyists** By Douglas Gillison (Reuters) - The operators behind the cryptocurrency exchanges Kraken and Blockchain. com have joined a growing list of corporations and affluent individuals that have hired the lobbying firm Ballard Partners, linked to former President Trump, since the elections in November, according to records. Founded by Brian Ballard, a prominent lobbyist and Trump fundraiser, the firm has come under scrutiny for possible ethical conflicts arising from the new administration, particularly following Trump's selection of two of its former associates, Susie Wiles and Pam Bondi, for pivotal roles. Both Payward Inc. (Kraken's official name) and Blockchain (US) Inc. , which is part of the Blockchain. com family, contracted Ballard in December, collectively paying $60, 000 for lobbying services focused on cryptocurrency policy during the year's final weeks, records indicate. A spokesperson for Kraken stated that the company doesn't comment on its relationships with other firms. "As part of our global policy engagement efforts, we collaborate with several lobbying firms within key markets, " the representative explained. Requests for comments from Blockchain. com and the White House went unanswered, as did inquiries directed at Ballard Partners, which serves clients across various sectors, including oil, finance, technology, and pharmaceuticals. Business for Ballard Partners has surged since Trump’s election, acquiring 40 new clients—more than in the previous ten months—according to lobbying disclosure records. Like many Washington lobby firms, Ballard Partners is open about its connections to power. "Many members of our firm have been longtime allies" of Trump, remarked partner Justin Sayfie in April. With the crypto industry seeking significant policy reforms after years of conflict with regulators under former President Biden, there is an expectation that legislation during Trump's crypto-friendly administration could clarify the legal status of cryptocurrencies, potentially bringing them into the mainstream. Similar to other prominent crypto firms, Kraken is currently involved in litigation with the Securities and Exchange Commission, which filed a lawsuit in 2023 claiming the company failed to register with the agency. Another major player in the cryptocurrency space, Ripple Labs—issuer of the XRP token—also hired Ballard just eight days post-election, with the relationship first reported by Politico.

A Ripple representative confirmed the hiring but did not elaborate on their reasoning. Before engaging Ballard, Blockchain. com had not employed a lobby firm in Washington for six years. Kraken maintains another lobbying firm and utilizes in-house lobbyists as well, records reveal. Following the withdrawal of former Florida lawmaker Matt Gaetz from consideration, Trump appointed Bondi as his choice for Attorney General. Wiles currently serves as the White House Chief of Staff. Bondi, who continued to lobby for Ballard during the latter part of 2024, stated in an ethics agreement presented to the Justice Department this month that, if confirmed, she would consult with an ethics officer to address any potential conflicts of interest. (Reporting by Douglas Gillison; editing by Michelle Price and Bill Berkrot) **Recommended Stories**