Former U.S. President Donald Trump, who is currently facing criminal charges in four jurisdictions in the country, announced that his 2024 presidential campaign will accept cryptocurrency donations.
In a May 21 notice, the Trump 2024 campaign said it had launched a fundraising page for eligible people to make cryptocurrency donations using the Coinbase Commerce product. The site lists cryptocurrencies such as BTC, ETH, GOGE, SOL, SHIB, XRP, USDC, and 0x (ZRX).
At a May 8 dinner for supporters who bought a non-fungible token featuring a photo of him from his time in a Georgia prison, Trump said he would ensure attendees could donate to his campaign in cryptocurrency. With less than six months until Election Day, Trump will be the Republican Party’s 2024 U.S. presidential nominee. He will likely face off against Democratic nominee President Joe Biden.
On May 15, Trump responded to President Biden's challenge by agreeing to hold televised debates on CNN on June 27 and ABC on September 10. Although the terms have not yet been finalized, the debate could mark the first time the two candidates have faced off face to face since Trump lost the election to Biden in 2020.
Source: Joe Biden
Despite accepting cryptocurrency donations, the “Issues” page on the Trump campaign website did not specifically mention digital assets or blockchain at the time of publication. President Biden has made few public statements on cryptocurrencies but did sign an executive order to establish a regulatory framework for digital assets in 2022.
Trump’s cryptocurrency donation announcement comes as a New York criminal trial jury prepares to deliberate, expected to begin next week. The former president was ordered to appear in person in a Manhattan courtroom on charges that he falsified business documents to pay crimson movie star Stormy Daniels $130,000. He also faces charges in Georgia and the District of Columbia for allegedly trying to overturn the results of the 2020 election, and in Florida for allegedly mishandling confidential documents.
In 2021, after leaving office, Trump said that Bitcoin "looks like a scam" and that he would rather the U.S. dollar become the "world currency." However, before Trump became a possible Republican candidate, digital asset policy was sometimes in the spotlight as rivals Vivek Ramaswamy and Ron DeSantis made statements about central bank digital currencies (CBDCs). Trump said during a campaign event in January 2024 that he would never allow a CBDC to be created in the United States.
Political action committees (PACs) supporting Trump have reportedly been paying for some of his criminal and civil cases.
In February, a judge ordered $355 million in disgorgement against Trump and his companies, finding them responsible for the fraud. In January, a New York judge ordered the former president to pay more than $83 million in connection with a defamation lawsuit filed by author E. Jean Carroll. In May 2023, a jury also found Trump responsible for sexual assault and defamation of Carroll and ordered $5 million in damages.
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