In case you didn’t know, cryptocurrencies, or to be more specific, Bitcoin, are the future of online payments. Today, there are many exchange platforms on the internet, but few to none can match what Jesse Powell achieved in 2011.

Jessie’s Kraken is a virtual exchange platform where people can trade with over 40 digital assets. Today, it’s one of the most successful and fastest-growing Bitcoin exchange markets in the world, connecting traders and buyers into one place.

It went live in 2013, and it’s the perfect replacement of the old Mt.Gox, which crashed before Kraken’s launch in the very same year. Today, Kraken is available in more than 190 countries worldwide, and it looks like nothing can’t get in its way!

This is the story of Jesse Powell and his rise to dominance in the online Bitcoin exchange market. Stick around and read all about the perseverance, talent, and determination that led Jesso towards success.

Cryptos Are Coming

Born and raised in San Francisco, young Jesse did not know which college to choose to continue his education, as the choice was now more prominent than ever.

Ultimately, Jesse chose California University, and he couldn’t have made a better choice since he graduated in Philosophy with regard to Ethics, acing it.

Unfortunately, philosophy’s appeal would not stick around forever, so, Jesse made a choice to explore new heights. Eventually, young Jesse decided to dive into the relatively new world of cryptocurrencies. Upon founding multiple companies, the focus on Jessie’s mind was set on digital matters, which will make a splash in the upcoming years.

Known as the creator of Kraken, one of the most prominent cryptocurrency exchange marketplaces, Jesse Powell just made our lives much easier when it comes to exchanging cryptocurrencies.

How did he manage this, and what made him focus on cryptocurrencies is the mystery behind Jesse Powell, a prominent entrepreneur who never took his eyes off Bitcoin.

In 2001, Jesse made his first contact with digital currencies. Later that same year, Jesse founded a firm that focused on players of online games, but not all online games. Jesse was assisting players with their account management and in-game currencies, so he took a bold step forward into the unknown world of cryptos.

In 2007, Jesse founded the Verge Gallery and Studio Project and quickly became Sacramento’s largest commercial art gallery at that time. Jesse ran this company until the end of 2010, just upon the rise of the new it thing that would take the world by storm - Bitcoin.

Realizing that Bitcoins are the future of the economy, both online and in the real world, Jesse wasted no time in pursuing his new dream - an online cryptocurrency exchange platform.

Taking the example of the then-active online exchange Mt.Gox, Jesse wanted to have his own virtual space where people could trade and sell Bitcoins as they pleased.

Why Bitcoins?

Jesse always thought that cryptocurrencies would be the future of online payments. He believed that Bitcoins have the potential to change everything, so his focus was set solely on this cryptocurrency.

Before Jesse could jump into the world of Bitcoin, he watched closely the now-defunct Tokyo-based cryptocurrency online exchange market, Mt.Gox. In the same year, when Jesse was going to set the foundations of Kraken, Mt.Gox experienced a security breach, and that was just the opportunity Jesse was waiting for. If one online crypto exchange market goes down, another one must emerge, so, hail Kraken!

Jesse realized that Bitcoin is the real deal, and following the hacking of Mt.Gox, he started to work on Kraken with all the money he saved from previous ventures, but he was not alone in this undertaking.

With the help of his two friends, Jesse managed to set the floor for Kraken to take the reign. Besides Jesse, there are two other people that helped Kraken to fill the void left by Mt.Gox.

Jed McCaleb, who used to work at Mt.Gox, and fellow Brian Armstrong from Coinbase, with their vast experience in online crypto trading, helped make Kraken a giant in the business.

The Kraken Is Released!

The year is 2013, and Kraken is ready to go live. Kraken went live prior to the hack attacks on Mt.Gox, and all those that were trading on Mt.Gox were now ready to try out Kraken. Jesse’s idea for Kraken worked spectacularly - his initial intention was to make a new place for Bitcoin trades, in case something happens to Mt.Gox, and boom - it just did!

With all of his money saved from his other projects, Jesse and his friends worked tirelessly to develop Kraken and make it immune to online attacks. In March of 2014, Kraken received $5 million in Series A funding, and shortly after that, Bloomberg started to provide data-based information about cryptocurrencies directly for Kraken.

Funding-wise, Kraken has received a total amount of whopping $129.6 million by 26 funding rounds. Some of Kraken’s lead investors include Raison Asset Management, and Anchor Capital, among others.

Jesse is still considering a potential IPO, and it’s unknown if the company will ever go public, as Jesse is willing to keep total control of his company.

Over the next few years, Jesse’s exchange market only rose in popularity. His platform had countless users and was holding a unique position in the global cryptocurrency market. Bitcoin traders and sellers wasted no time in bringing their assets to Jesse’s platform, and as it turns out, it was totally worth it.

Since the Kraken was released, Jesse became one of the most important figures in the world of cryptocurrencies, and his company even managed to become the first cryptocurrency firm to become a bank in the United States.

After everything had unfolded nicely for Jesse, he realized that his life’s dream was fulfilled, and now it was time to maintain it.

The Future of Crypto Exchange Is with the Kraken!

As Kraken’s owner, Jesse Powell guided his company to record trading volumes in 2020. Jesse was able to enter the Australian crypto market and reappear on the Japanese one shortly after. In that same year, it was reported that Jesse’s Kraken is now available in around 190 countries worldwide! At that moment, Jesse stood on the top of the crypto world, and only the sky was the limit.

As time went on, Jesse’s Kraken now had around 6 million clients. Later on, Jesse stated that the rise of Bitcoin had a significant role in his platform’s mercurial rise.

Jesse realized that his stand must improve, and finally, in the first quartal of 2021, the number of users rose to four times than the previous year, proving that his idea from 2013 was more than worth it.

Jesse is also an active cryptocurrency advocate and believes that Bitcoin will surely become more valuable as time goes on. Nonetheless, Jesse’s timing of founding Kraken was more than perfect, and today, his platform is considered the future of online crypto exchange.

Kraken, Today

Today, Jesse Powell is still doing what he does best - dominating the world of cryptocurrencies while his Kraken rules the online crypto exchange. Jesse is still involved in his company, acting as the CEO, still working on pioneering the crypto space.

At the start of 2021, Jesse witnessed the opening of the Kraken Bank in Cheyenne, Wyoming, something that has been thought of as the turning point in the interaction of traditional banks with the crypto ones.

A crypto-lover himself, Jesse took off early with these ideas, and look at him now - he owns one of the largest online crypto-trading markets in today’s world!

However, before Kraken’s crypto-world dominance, some serious obstacles had to be overcome. Jesse’s Kraken had to shake off competitors like Gemini, Bitstamp, and Bitfinex, making sure the top of the crypto-world belonged to Kraken.

Jesse proved that he is adaptable to the fast-paced industry, and he expects to see Kraken move deeper into DeFi in no time!

Today, Kraken’s headquarters are located in San Francisco, with 5 additional offices in 5 countries. More than 240 people work for Kraken, making sure everything runs smoothly for its users.

As of late 2021, Kraken is still booming on the market, and Jesse Powell can finally say that this was worth waiting for. Jesse’s total net worth from founding Kraken is unknown, but he bought himself a lovely new mansion worth $11.5 million, so his pockets must be filled to the max!