According to ChainCatcher, Decrypt reported that former US President Trump said in a live broadcast released by World Liberty Financial that if he is not elected in November this year, he believes that cryptocurrency builders who are being investigated by the US SEC "will be in hell."

“If we don’t win the election, the people who are being investigated, the people who are free right now, the people who are not being followed in the crypto world, they’re going to have a hell of a life,” Trump said.

Trump discussed what he described as an “incredibly hostile” regulatory approach to the crypto industry under current SEC Chairman Gary Gensler.

There has been speculation that Trump's public declaration of support for cryptocurrencies and his promise to bring friendlier regulation to the industry may have persuaded the Biden administration to cool down on crypto enforcement. Trump himself also thought this made sense, "Frankly, since they heard that I was involved, they've treated industry participants a lot better, and maybe they think this is a way to get votes."