By Douglas Gillison
(Reuters) – The companies behind the crypto exchanges Kraken and Blockchain.com have joined the dozens of corporations and wealthy individuals that have hired the President Trump-tied lobbying firm Ballard Partners since November’s elections, records show.
Founded by lobbyist and Donald Trump fundraiser Brian Ballard, the firm has drawn scrutiny in recent weeks for potentially creating ethical conflicts in the new administration after Trump tapped two of its former partners, Susie Wiles and Pam Bondi, for key positions.
Both Payward Inc., which is Kraken’s legal name, and Blockchain (US) Inc., part of the Blockchain.com group of companies, hired Ballard in December, together paying the firm $60,000 for lobbying services on crypto policy in the final weeks of the year, records show.
A Kraken representative said the firm did not discuss relationships with other firms.
“As part of our global policy engagement efforts, we work with a number of lobbying firms in our key markets,” the spokesperson said.
Blockchain.com and the White House did not respond to requests for comment.
Ballard Partners, which represents clients from across the business world, including in the oil, finance, tech and pharmaceuticals industries, also did not respond.
Business has blossomed for Ballard since Trump emerged victorious in November, with 40 new clients signed, more than during the prior 10 months, lobbying disclosure records show.
As with many Washington lobbying outfits, it has made no secret of its ties to power. “Many members of our firm have been longtime allies” of Trump, partner Justin Sayfie said in April.
After years of butting heads with former President Joe Biden’s regulators, the crypto industry is pushing for major policy changes, as well as legislation, under Trump’s crypto-friendly administration that would provide clarity over the legal status of cryptocurrencies and help to propel them into the mainstream.
Like many other major crypto companies, Kraken is embroiled in litigation with the Securities and Exchange Commission, which sued the company in 2023 alleging it should have registered with the securities regulator.
Ripple Labs, another major crypto company and issuer of the token XRP, also hired Ballard eight days after the election, records show. The relationship was first reported by Politico.
A spokesperson for Ripple confirmed it had retained Ballard but did not answer questions about its reasons.
Prior to hiring Ballard, Blockchain.com had not retained a Washington lobby firm in six years. U.S.-based Kraken retains one other firm and also uses in-house lobbyists, records show.
After former Florida lawmaker Matt Gaetz withdrew from consideration, Trump named Bondi as his pick for Attorney General. Wiles is now White House chief of staff.
Bondi, who continued to lobby for Ballard in the final months of 2024, said in an ethics agreement submitted to the Justice Department this month that if confirmed she would consult with an agency ethics official to manage any conflicts of interest that may arise.
(Reporting by Douglas Gillison; editing by Michelle Price and Bill Berkrot)
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