The companies associated with the cryptocurrency exchanges Kraken and Blockchain.com are among several corporations and wealthy individuals that have recently engaged the services of the lobbying firm Ballard Partners, which has ties to former President Trump's administration. Founded by lobbyist and fundraiser Brian Ballard, the firm has come under scrutiny for potentially creating ethical conflicts in the new administration since Trump appointed two of its former partners to key positions.
In December, both Payward Inc. (Kraken's legal name) and Blockchain (US) Inc., a part of the Blockchain.com group, hired Ballard for lobbying services related to cryptocurrency policy, collectively paying the firm $60,000 in the final weeks of the year. A representative from Kraken stated that the firm does not disclose its relationships with other firms, mentioning, As part of our global policy engagement efforts, we work with a number of lobbying firms in our key markets.
Blockchain.com and the White House did not respond to requests for comment, and Ballard Partners, known for representing clients across various industries, including oil, finance, technology, and pharmaceuticals, also did not provide a response.
Since President Trump's reelection in November, Ballard's business has flourished, signing up 40 new clients, exceeding figures from the previous 10 months, according to lobbying disclosure records. Partner Justin Sayfie remarked, Many members of our firm have been longtime allies of Trump.
The cryptocurrency industry, after facing challenges during former President Joe Biden's administration, is actively advocating for regulatory clarity and legislation under Trump's administration to foster mainstream adoption. Several crypto firms, including Kraken and Ripple Labs, have engaged Ballard Partners for representation. Ripple Labs confirmed its association with Ballard but did not elaborate on the reasons for hiring the firm.
Before retaining Ballard, Blockchain.com had not enlisted a Washington lobbying firm in six years. Kraken, based in the U.S., employs another lobbying firm in addition to using in-house lobbyists.
Former Florida lawmaker Matt Gaetz withdrew his Attorney General candidacy, and Caroline Wiles is now serving as the White House chief of staff. Pamela Bondi, who continued lobbying for Ballard until the end of 2024, stated in an ethics agreement submitted to the Justice Department that she would manage any conflicts of interest that may arise if confirmed for a position.