Former United States President Donald Trump is ramping up his advocacy for cryptocurrency. However, now setting his sights on becoming the “crypto president.” According to a recent Reuters report, he commented on a fundraising event in San Francisco co-hosted by Craft Ventures’ general partner, David Sacks, and tech billionaire Chamath Palihapitiya.
Trump affirmed his commitment to cryptocurrency at this gathering, asserting his readiness to champion it. The industry’s advancement while cautioning against the Democratic Party’s purported inclination towards stringent regulations. The fundraising event proved a significant boon for Donald Trump’s promotional efforts. Therefore, it reportedly netted a substantial $12 million in support ahead of the November 5 U.S. presidential election.
Trump’s Crypto Support Comes in Contrast to Biden
In response to President Joe Biden’s recent decision, which angered the crypto community, Donald Trump has embraced cryptocurrencies as part of his more extensive campaign to differentiate himself from the policies advocated by the present administration.
Biden was already under fire for vetoing a measure to repeal the contentious U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121 only one week before. The industry has been divided over this bulletin, which requires financial institutions to include. Bitcoin assets are liabilities in their balance accounts. Several of Trump’s recent public remarks show his ardent support for Bitcoin is not new. He restated his position on May 26th that the US must establish its supremacy in the cryptocurrency market.
In a post on Truth Social, a platform owned by Trump Media and Technology Group, he stated at the time, “Our country must be the leader in the field; there is no second place.” Not only that, but he just announced his presidential campaign, accepting cryptocurrency donations.
The fundraiser website, which accepts donations made with qualifying cryptocurrencies through Coinbase Commerce, features logos for 0x (ZRX), Bitcoin, Ethereum, Dogecoin, Shiba, XRP, USD Coin, and SOL. In addition, Trump has already pledged to pardon Silk Road creator Ross Ulbricht if he is re-elected in November. This statement was made earlier this month.
Voters Consider Candidates’ Stance on Crypto
In response to President Joe Biden’s recent decision, which angered. In the crypto community, Donald Trump has embraced cryptocurrencies as part of his more extensive campaign to differentiate himself from the policies advocated by the present administration.
Biden was already under fire for vetoing a measure to repeal the contentious U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121 only one week before. The industry has been divided over this bulletin, which requires financial institutions to include Bitcoin assets as liabilities in their balance accounts. Several of Trump’s recent public remarks show his ardent support for Bitcoin is not new. He restated his position on May 26th that the US must establish its supremacy in the cryptocurrency market.
In a post on Truth Social, a platform owned by Trump Media and Technology Group, he stated at the time, “Our country must be the leader in the field; there is no second place.” Not only that, but he just announced his presidential campaign, accepting cryptocurrency donations.
Logos for 0x (ZRX), Bitcoin, Ethereum, Dogecoin, Shiba, XRP, USD Coin, and SOL can be seen on the fundraiser website, which accepts donations made with qualifying cryptocurrencies through Coinbase Commerce. In addition, Trump has already pledged to pardon Silk Road creator Ross Ulbricht if he is re-elected in November.
