Companies Behind Kraken and Blockchain.com Hire Trump-Tied Lobbying Firm Ballard Partners
Since November’s elections, the companies behind the crypto exchanges Kraken and Blockchain.com have enlisted the services of the President Trump-tied lobbying firm Ballard Partners, according to records.
Background on Ballard Partners
Founded by lobbyist and Donald Trump fundraiser Brian Ballard, the firm has come under scrutiny for potential ethical conflicts in the new administration after Trump appointed two of its former partners, Susie Wiles and Pam Bondi, to key positions.
Lobbying Services for Crypto Policy
Both Payward Inc., known as Kraken, and Blockchain (US) Inc. from the Blockchain.com group hired Ballard in December, collectively paying $60,000 for lobbying services on crypto policy towards the end of the year.
A representative from Kraken stated that the firm does not discuss relationships with other firms, emphasizing their focus on global policy engagement efforts.
Blockchain.com and the White House did not provide comment on the matter, and Ballard Partners, representing clients across various industries, also remained silent.
Business Growth for Ballard Partners
Since Trump’s victory in November, Ballard Partners has seen a significant increase in clients, with 40 new signings, marking a ramp-up in business activity for the firm compared to the previous months.
Crypto Industry’s Push for Policy Changes
With the Trump administration viewed as crypto-friendly, the industry is advocating for policy changes and legislation to provide clarity on the legal status of cryptocurrencies and facilitate their mainstream adoption.
Amid ongoing litigation with the Securities and Exchange Commission, Kraken is one of many crypto companies navigating regulatory challenges.
Ripple Labs’ Engagement with Ballard Partners
Ripple Labs, a major player in the crypto space, also enlisted Ballard Partners shortly after the election, signaling a trend of companies seeking advocacy in Washington.
Prior to engaging with Ballard, Blockchain.com had not retained a Washington lobby firm for six years, while Kraken continues to work with another firm alongside its in-house lobbyists.
Key Personnel Appointments
Following former Florida lawmaker Matt Gaetz’s withdrawal from consideration, Pam Bondi was nominated by Trump for Attorney General, with Susie Wiles assuming the role of White House chief of staff.
In an ethics agreement submitted to the Justice Department, Bondi pledged to consult with agency ethics officials to manage any potential conflicts of interest arising from her continued lobbying activities.