Donald Trump Pledges to be the Crypto President During Fundraising Event

Donald Trump Declares Intent to be Known as the ‘Crypto President’ at Fundraising Event
Former President of the United States, Donald Trump, is intensifying his support for cryptocurrency, aiming to establish himself as the “crypto president.” This declaration was made during a fundraising event in San Francisco, which was co-hosted by Craft Ventures’ general partner, David Sacks, and tech billionaire Chamath Palihapitiya, according to a recent report from Reuters.
At the event, Trump affirmed his dedication to cryptocurrency, expressing his willingness to advocate for the industry’s progress and cautioning against the Democratic Party’s alleged inclination towards strict regulations. The fundraiser proved to be a major success for Trump, raising an impressive $12 million in support ahead of the upcoming U.S. presidential election on November 5.
Trump’s endorsement of cryptocurrency stands in contrast to President Joe Biden’s recent actions that have been met with criticism from the crypto community. Just a week before, Biden faced backlash for vetoing a resolution that aimed to overturn the controversial U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121, which requires institutions holding cryptocurrency assets to list them as liabilities on their balance sheets.
Trump’s public support for cryptocurrency is not new, as he has made several statements in recent times emphasizing the need for the United States to lead in the crypto sector. He has also announced that his presidential campaign will accept cryptocurrency donations, with eligible individuals able to contribute using Coinbase Commerce and various cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
In addition, Trump has promised to grant a presidential pardon to Ross Ulbricht, the founder of Silk Road, if he is re-elected in the upcoming election. Surveys have shown that a candidate’s position on cryptocurrencies is a significant factor for one in three voters in the US when deciding who to vote for. Trump’s support among the crypto community is evident, with a survey indicating that 48% of crypto owners plan to vote for him, while 39% intend to support President Joe Biden.
Furthermore, a report from Coinbase suggests that California voters who own cryptocurrencies could have a considerable impact on the outcome of the 2024 elections. Trump’s embrace of cryptocurrency and his efforts to position himself as the “crypto president” indicate a shift in the political landscape regarding digital assets.