Donald Trump is actively engaging with the crypto community, including high-profile endorsements and major fundraising events.
Trump’s campaign has raised over $4M in crypto donations, highlighting his commitment to supporting the crypto sector against regulatory hurdles.
Trump pledges to protect Bitcoin holders and promote U.S. Bitcoin mining, contrasting sharply with the Biden administration’s stricter regulations.
Donald Trump is one of the presidential contenders who has openly embraced cryptocurrency. This is becoming the norm. He has shown optimism in cryptocurrency ever since he shared his most recent NFT art collection on the Solana network in April. Consequently, seasoned cryptocurrency and technology investors like Ben Horowitz and Marc Andreessen have praised Trump.
This Saturday, Trump is officially planning to give the opening speech at The Bitcoin Conference in Nashville. The function will take place at the convention centre in Music City Center. He is also planning on holding a fundraising dinner in the city that same day with tickets costing as much as $844,600 per head.
The cost of premium tickets includes a roundtable with Trump. The next tier comes with a picture opportunity with the outgoing president and costs $60,000 for an individual or $100,000 for a pair.
Crypto Contributions to Trump’s Campaign
A Trump campaign aide named Brian Hughes stated that the campaign had raised more than $4 million in cryptocurrencies, mostly in the form of Bitcoin. Hughes stressed that Kamala Harris and the Democrats are “attacking crypto innovators and others in the technology sector.”
He also attacked the Biden-Harris administration for impeding innovation by raising taxes and regulations. On the other hand, Trump is dedicated to promoting US leadership in developing technology.
As of right now, Trump is the first presidential contender to take donations made in a variety of digital tokens, such as ether, dogecoin, USDC, Shiba inu coin, and XRP. Notably, Jesse Powell, the founder of Kraken, gave around $845,000 in ether. Stuart Alderoty, the chief legal officer of Ripple, attended a Trump fundraiser event in San Francisco and gave $300,000 to XRP.
Former Messari CEO Ryan Selkis, who resigned, donated $50,000 to USDC. The Trump campaign generally converts these crypto contributions to USDC and then liquidates them, although they sometimes hold onto the USDC.
Commitment to Crypto Rights and Future Policies
Trump has vowed to defend the rights of those who self-custody their coins, avoiding reliance on centralized entities like Coinbase. Additionally, he promised at the Libertarian National Convention to protect Bitcoin holders from critics like Sen. Elizabeth Warren.
Following a meeting with bitcoin mining executives, Trump declared that all future bitcoin will be minted in the U.S. if he returns to the White House. Furthermore, he named Ohio Sen. JD Vance as his running mate, a move seen as favorable for the crypto sector. Vance, an advocate for looser crypto regulation, disclosed in 2022 that he personally holds Bitcoin.
The Biden administration has increased crypto regulation, with the SEC intensifying actions in recent years. However, Trump’s pro-crypto stance and growing support from the sector present a stark contrast and potential shift in U.S. crypto policy.
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