As cryptocurrency takes a central role in Donald Trump's election campaign strategy, the former President has chosen a long-time crypto supporter as his Vice Presidential candidate. Trump, the presumptive GOP nominee, announced on Monday that Ohio Senator JD Vance will be his running mate. This decision follows "lengthy deliberation and thought," as Trump stated on his Truth Social Network.
“J.D. has had a very successful business career in Technology and Finance,” Trump wrote.
Vance, a former tech venture capitalist, reportedly holds more than $100,000 in Bitcoin, according to his latest federal financial disclosure. Crypto news reporter Colin Wu noted that Vance owns between $100,001 and $250,000 worth of Bitcoin through Coinbase as of 2022.
Since taking office as Senator in 2022, Vance has been an advocate for pro-crypto legislation. He recently introduced a bill aimed at revamping U.S. regulations on digital assets. Sources close to Vance suggest he aims to improve on Republican-led legislation passed by the House in May.
Crypto Advocate and Regulatory Critic
Vance has been a vocal critic of the SEC's regulatory approach to cryptocurrency, particularly under the leadership of SEC Chair Gary Gensler. In February, Vance, along with other GOP Senators, wrote a letter to Gensler criticizing the case against the crypto company DEBT Box.
Implications for the Crypto Community
Trump's choice of Vance as his running mate has been well-received by many in the crypto community. Nic Carter, founder of Castle Island Ventures, praised the decision, describing Vance as “very good on crypto” and highlighting his background as a former venture capitalist.
“JD is a great choice, former VC, and very good on crypto,” Carter wrote on X. “Trump 2.0 is signaling a pro tech, pro Silicon Valley, pro American dynamism outlook.”
Sam Lyman, Director of Public Policy at Riot Platforms, also supported the Trump-Vance ticket, suggesting it would counteract the efforts of anti-crypto lawmakers like Massachusetts Senator Elizabeth Warren.
“Senator Warren’s ‘anti-crypto army’ would be no match for a Trump-Vance presidency,” Lyman told Fox Business. “This is the dream ticket for anyone who believes in self-sovereignty and the freedom to transact.”
Upcoming Bitcoin Conference Appearance
In related news, Trump is set to speak at the Bitcoin Conference in Nashville, Tennessee, from July 25 to July 27. This appearance follows an assassination attempt during a Pennsylvania rally on July 13. Trump is scheduled to deliver his keynote address on the final day of the conference.
With this strategic VP pick and ongoing support for cryptocurrency, Trump’s campaign is positioning itself as a pro-technology and pro-crypto force in the upcoming election.
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