Oh, the drama! Jesse Powell, the co-founder of Kraken (that’s the crypto exchange, not the mythical sea beast, although sometimes it feels close), is taking a San Francisco co-op to court over what he’s calling a blatant case of crypto discrimination. Apparently, being a crypto mogul is still, like, sooo not chic in certain circles. Who knew? 🤔
According to a lawsuit filed by his legal squad (who are probably wearing lawyers’ robes and sipping overpriced coffee), Powell claims that the elite members of Twenty-Five Hundred Steiner Street Inc. decided not to give him the keys to his dream apartment simply because he’s just a little too crypto for their taste. You know, the California Fair Employment Housing Act, etc., etc. — always getting in the way of a solid real estate investment! 🏡
On February 6th, in a dramatic twist worthy of a Netflix series, Powell took to X (formerly Twitter, because rebranding is what we do) to vent his frustrations. “Frankly, I’m fed up with condescending, elitist bigots unlawfully discriminating against me,” he complained. Well, welcome to the club, Jesse! 😬
Apparently, the co-op didn’t give him a ‘straight answer’—shocking, I know—just a lot of fluffy obfuscation (a frankly delightful word that’s a bit of a mouthful). They kept shifting their excuses around like it was a game of dodgeball, until he was just outright denied. Awkward! 🤷♂️
1/2 I tried everything to avoid filing this lawsuit. Frankly, I’m fed up with condescending, elitist bigots unlawfully discriminating against me. This time it’s housing in San Francisco. I had hoped to return to take part in the revitalization of the city.
— Jesse Powell (@jespow) February 5, 2025
In the lawsuit, Powell alleges that the co-op members were really just against him because he’s all about that crypto life and his slightly conservative views. And let’s not forget that little FBI probe from 2023, which I’m sure didn’t help his case at the dinner parties. 🍷
Now, it’s not like Powell is a staunch Republican or anything. He did donate a cool million to Donald Trump’s campaign back in June 2024, but he also represents the misunderstood crypto crowd. Talk about being caught between a rock and a Bitcoin! 💸
The co-op, which the lawsuit describes as a “bastion of San Francisco power Democrats” (oh, how very exclusive!), has a few notable members, including venture capitalist Bruce Golden, who’s apparently made it his personal mission to ruin Powell’s real estate dreams. Must be nice to have that kind of power, Bruce! 👀
Originally, Powell’s bid for the apartment was approved by nine out of eleven non-selling members of the co-op (miracles happen!), only to have the board suddenly decide to throw in a curveball: “Hey, we need a signed tax return.” How convenient! He thought that was more of a ‘wink-wink’ situation rather than an actual requirement. 🍹
After lots of back-and-forth and paperwork shenanigans, the board finally did their ‘due diligence’ (I’m rolling my eyes as I type). Now, Powell is basically begging the court to let him buy the apartment and hand over some damages while they’re at it. Because, who doesn’t want a little extra cash for their troubles? 💰
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2025-02-06 15:28