Former United States President Donald Trump is ramping up his advocacy for cryptocurrency as a key component of his 2024 presidential campaign. During a fundraising event in San Francisco, hosted by Craft Ventures’ general partner David Sacks and tech billionaire Chamath Palihapitiya, Trump made a bold declaration that he aims to be the “crypto president.”
A Commitment to Cryptocurrency
At the event, Trump reiterated his support for the cryptocurrency industry and outlined his plans to advance the sector. He emphasized the contrasting approach of the Democratic Party, which he claims intends to impose stringent regulations on the industry. Trump’s advocacy signals his intention to foster a more favorable environment for cryptocurrency innovation and growth.
Shifts in Washington
Despite Trump's criticisms, some industry experts believe that a positive shift toward cryptocurrency is already occurring in Washington. Matt Hougan, Chief Investment Officer at Bitwise, expressed optimism about the U.S. moving towards regulatory clarity. Hougan suggests that clearer regulations could integrate the cryptocurrency market into the country’s $20 trillion financial advisory industry, potentially driving significant growth and adoption.
Industry Lobbying Efforts
While political promises play out, the cryptocurrency industry is actively lobbying for favorable regulatory changes. Crypto exchange Coinbase has recently donated $25 million to the crypto-focused super political action committee (PAC) Fairshake. This contribution is part of a broader effort to influence policy ahead of the November U.S. elections.
The latest donation brings the total amount raised by Fairshake and its affiliates to $160 million for this election cycle. This substantial fundraising effort aligns with similar contributions from notable industry players such as Ripple and venture capital firm Andreessen Horowitz.
Conclusion
As the 2024 presidential campaign unfolds, Donald Trump’s commitment to becoming the “crypto president” highlights the growing importance of cryptocurrency in political discourse. With ongoing lobbying efforts and potential regulatory shifts, the future of cryptocurrency in the United States remains a critical and closely watched issue.
#crypto #Trump #cryptopresident

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Bitcoin whale BlackRock set to clash with ‘crypto president’ Trump after inauguration
BlackRock, the biggest asset manager on the planet with $11.5 trillion under its belt, is about to lock horns with Donald Trump, who is about to step back into office with a crypto agenda.
Trump’s administration is promising to turn it into a cornerstone of US economic strategy.
Meanwhile, BlackRock, the same company holding over half a million Bitcoins valued at $52.81 billion through its iShares Bitcoin Trust (IBIT), has its own battles to fight — with regulators breathing down its neck.
The Federal Deposit Insurance Corporation (FDIC) isn’t cutting BlackRock any slack. And Trump’s big Bitcoin plans? Let’s just say they don’t make things any easier for Mr. Larry Fink. But hey, at least BlackRock’s a Bitcoin whale now.
BlackRock vs. FDIC
Here’s what is going down with the FDIC. BlackRock was supposed to meet a January 10 deadline to address concerns about its influence on US banks.
However, It didn’t. Instead, it asked for more time—until March 31—to review a proposed agreement, claiming it needed at least two more months.
The FDIC wasn’t buying it. The agency not only rejected the extension but also added more demands. They want more transparency about how BlackRock makes decisions and details about its bank-related holdings.
If BlackRock doesn’t act fast, things could get worse, and fast too. Sources familiar with the matter say the FDIC might issue subpoenas or take other mandatory actions to force the firm’s compliance.
This isn’t a minor dispute. BlackRock’s sheer size, combined with its massive stakes in banks, has some regulators worried it could have too much control over the financial system.
Jonathan McKernan, a Republican FDIC board member, and Rohit Chopra, the Democratic head of the Consumer Financial Protection Bureau, have both called for tighter oversight of big asset managers.
Their main argument is that BlackRock could sway how banks operate, making them less independent.
BlackRock’s defense has so far been calling the FDIC’s demands disruptive, arguing that new rules could wreck index funds—one of its flagship offerings—and make it harder for banks to raise cash.
The company also says the FDIC needs to coordinate its efforts with the Federal Reserve, which already oversees its operations through a passivity agreement.
Trump’s Bitcoin play
Trump, along with Bitcoin-friendly figures like Senator Cynthia Lummis, is pushing for a US Strategic Bitcoin Reserve. Here’s the plan: Senator Lummis has introduced a bill proposing the US Treasury and Federal Reserve acquire 1 million Bitcoins over five years.
That’s 200,000 Bitcoins a year, adding up to about 5% of the total global supply. The goal? To reduce America’s reliance on traditional financial systems and keep up with rivals like China and Russia.
Dennis Porter, the co-founder of the Satoshi Act Fund, spilled the details. The reserve would partly come from Bitcoins seized in criminal investigations, giving the government a head start.
Trump’s team believes this reserve could help stabilize the dollar while tackling the US’s enormous $36 trillion national debt.
BlackRock, despite its massive Bitcoin holdings, isn’t on the same page. The firm has been making headlines for other reasons, like its withdrawal from the Net Zero Asset Managers Initiative (NZAMI).
BlackRock pulled out of NZAMI on January 11, under pressure from Republican-led states that weren’t happy with its climate-focused investments.
The company insists it will continue to consider climate risks in its investment strategies, but the decision shows how political tensions are forcing it to adapt.
#BlackRock #CryptoPresident #Trump #cryptomarket #Cryptonews