The cycling pioneer was denied a housing complex in “Mecca” for the Democratic fundraiser. Now he claims discrimination
Kraken Chairman and co-founder Jesse Powell filed a lawsuit against the cooperative committee in a prominent Democratic building for discrimination against Fox News Digital and offers to buy one of the 12 units. Let me talk about the reason.
The San Francisco apartment co-op is being used to house the Ritzie Democrats’ campaign party, and its mega-donor has established itself as defendants in a new discrimination lawsuit filed by cryptocurrency pioneers.
Jesse Powell, Co-founder of Crypto Exchange Krakensues 2,500 Steiner Street shareholders’ corporations over discriminatory lawsuits against his financial, criminal and potential political affiliations that led to the denial of California Gov. Eleni Kunarakis’s troop purchase.
“I’m frankly tired of dealing with this, I’m exhausted from discrimination,” Powell told Fox News Digital on Friday. “And San Francisco should not be where that happens. In fact, San Francisco needs a crypto industry more than ever.”
“The hypocrisy of the so-called progressive movement that somehow fails to tolerate ideas that disagree with themselves, while claiming they are open to everything,” he added. “That’s strange to me.”
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Powell filed a lawsuit last Wednesday – claiming he “tried everything” to avoid that – and that he and the unit seller were nearly $15.5 million for the unit’s sale in September It is allegedly been entered into escrow before the cooperative committee learned his identity and their “attitude has changed.”
Kraken Chairman and co-founder Jesse Powell told Fox News Digital that he was “exhausted” after housing discrimination and “the hypocrisy of the so-called progressive movement.” (Getty Images)
Powell holds a protected status under California’s Fair Employment and Housing Act (FEHA) and Unruh Act due to his source of income and criminal history. FBI agents searched Powell’s Los Angeles home in July 2023 over hacking and cyberstalking allegations, but were never charged with crimes related to the search and seizure.
“The last attempt I made was to send each shareholder a personal letter explaining why I think I would be a good neighbor. “From a lawyer,” explained Powell. “And for me it was the end of my journey to resolve this in a friendly way, and at that point I had no choice but to file a lawsuit.”
In cooperatives, buyers invest in housing cooperative stocks rather than owning real estate. When Powell’s offer reached shareholders for final approval, the lawsuit said the board “planned to discriminate against Powell by refusing to approve the sale,” adding that the company “reportedly told Powell that It says it doesn’t give a straight answer to denial and not just provide it instead. It interferes with obfuscation and changing pretexts.”
This particular 12-unit property is known colloquially as “Suzy’s Building.” Long-standing democratic donors Susie Tompkins Buell.
“Is our political differences open and motivated to see what they say, or those things, or perhaps the building is packed with Democrats,” Powell pointed out. “It is clearly known for having a reputation as a mecca of this kind of Democrat fundraiser.
“I’m not a Democrat, but I’m not a Republican either. I vote for the issue. Each candidate thinks independently. I see the meaning of public policy in things. The Biden administration “It’s more consistent with a kind of cause that’s been coded right over the past four years as it attacked our industry,” continued the Kraken co-founder.
As he went through the shareholder approval process, Powell realized that the agreement between him and the seller was not the end of the purchase. The bylaws required that the sale be submitted to non-selling shareholders of the building.
Powell’s application was initially denied in October, but no reason for denial was stated. When pressed the answer, the building’s real estate manager argued that there were “many concerns” that were deemed “unresolved.”
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A few days later, the 2500 Steiner Street Board insisted that denial was a financial issue and that his lawyer had “a far from being “unsolved.” In the cooperative transaction, “no such a meeting occurred” before shareholders made a final decision in November.
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“Shareholders knew who the seller was with them all the time. They received an entire package of materials, including the transfer agreement. They deliberately wanted to sell to Li throughout California, and she was about to sell. I’ve been willing to stop selling units of. From my understanding, it’s been quiet and out of the market for over a year,” Powell said.
“Obviously, she didn’t want to report on this, and they forced her to be in the media about this deal, and you might have some kind of bad blood there. You need to wonder: if she’s leaving San Francisco, is she probably the bigger question?
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Representatives from 2500 Steiner Street Corporation did not reply to Fox News Digital’s request for comment.
Lt. Col. Kounalakis’s office also did not respond to Fox Digital’s request for comment.
Powell has no official obsession with Democrats or Republicans, but in June he donated $1 million to President Donald Trump’s campaign, and recently “supporting a nationally popular conservative cause,” the lawsuit said. It states. He co-founded Kraken in 2011 and resigned as CEO in April 2023, but remains as chairman and major shareholder.
He said that preventing this real estate transaction is “very good.” Bad for San Francisco“It perpetuates the urban housing shortage, prevents millions of dollars from entering the local economy, and prevents other successful entrepreneurs from moving there.
“This has a wide range of meanings. It’s not just about this unit of a city, but not just preventing someone from moving from one city to another. I think we need to look at the rules of the cooperative. That’s , no matter how much you like them, no matter what you don’t like, no matter how much you like them, no matter how much you like them, no matter how much you like them, you’re financially They say they can’t discriminate against anyone other than qualifications, whether they are good neighbors.
When asked why he didn’t want to find another property, Powell said he persuaded him to return to San Francisco after leaving for Los Angeles in 2018. He replied that he had a “surprising” view of Golden Gate Bridge and Alcatraz Island.
“I think I just got emotionally connected to it. And I really don’t solve the housing problem by going to another unit. It’s one unit still on the market,” he says. Ta. “I’m happy to be able to live in the building with people with different ideas and people with different ideas…I’m looking after my neighbors and make San Francisco a better place to help make San Francisco a better place. I want to. And I don’t. I don’t. I don’t want to disrupt some feathers and people don’t want to overtake me in the lobby and see me… that’s why I think it’s so selfish.”
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Kraken co-founders are not interested in participating in Exodus in California Either way, people suggest that he move to places like Austin, Texas, or Miami, Florida. He stood firm in his longtime hometown, hoping to “make a difference” rather than “running away.”
The court date is set for July 9th in California’s superior courthouse, where we hear open discussions on the case. Powell and his attorneys are urging the judge to advance the sale of units and award declarative relief for compensatory damages, punitive damages, legal costs and expenses.
“We may reach some sort of settlement before it happens. If this is ultimately brought to justice, the jury will need to decide whether there was illegal discrimination,” Powell said. “If they’re interested in a settlement, there are some paths that can be discussed in a settlement. But I’m really focused on being able to move into that unit, which is really the most satisfying outcome for me.”
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“San Francisco has clearly welcomed a variety of people in all life who have very different ideas about how to live and what their identity is. In fact, San Francisco is a sanctuary city. Mostly Democrats. , I live in this building that has been donated to these causes of diversity and inclusion, but as you know, for people with diverse jobs and diverse opinions, the cryptocurrency industry is important. We are faced with dropouts, and we are used to being discriminated against based on the industry and the work we do.
“I think the city has a lot to do to bring business back and revitalize downtown, and continue to discriminate when people like me are looking for housing to return to San Francisco. It’s not too far, either. He concluded.