On September 15, 2024, an assassination attempt on former President Donald Trump at his golf club in West Palm Beach, Florida, shocked the nation. While the gunman was apprehended, Trump remained unharmed thanks to swift action from the Secret Service. The FBI is currently investigating the incident.
🔥 In uncertain times like these, it’s crucial to have a safe, secure place for your assets. Binance provides top-level security, ensuring your crypto investments are always protected from potential threats! 💼
🔒 Stay secure, stay ahead, and let Binance help you navigate volatility in both the world and the markets.
#BreakingNews #TrumpInCrypto #safetyfirst #CPI_BTC_Watch #Write2Earn!

The US presidential elections have always been a major economic and geopolitical event with a massive impact on the American economy and the world. The election of the right president can make or break a market, that’s why the elections are crucial for crypto.

Many believe that the election of Donald Trump, the candidate from the Republican party, will mark the start of a bull run for crypto and other financial instruments. That’s not only because of his stance on Web3 regulation and Bitcoin, but also because of its macroeconomics and geopolitical decisions. 
In this article, we’ll give you a comprehensive review of the candidate’s political stances and five different ways the 2024 US elections could impact the crypto world. Enjoy! 
Where Do Trump and Harris Stand on Crypto? 
We have two opposite candidates in the run for presidency. Let’s see where they stand on crypto and regulations:
Donald Trump
By 2024, Trump changed his approach, aiming to capture the support of crypto enthusiasts and significant donors in the industry. 
At the Bitcoin 2024 conference in Nashville, Trump announced his ambition to make the U.S. the “crypto capital of the planet” and a global Bitcoin superpower. He even introduced policies aimed at promoting the cryptocurrency sector, including a government Bitcoin stockpile and the formation of a Bitcoin and crypto presidential advisory council.
Trump's campaign now accepts Bitcoin donations, and he has embraced digital assets by launching NFT trading cards that depict him in various settings, including as a superhero with Bitcoin. His vice-presidential running mate, Senator J.D. Vance, is also a strong supporter of cryptocurrency.
Moreover, as of September 17, Donald Trump has officially launched his new crypto project, World Liberty Financial, just one day after surviving a second assassination attempt. The project aims to provide borrowing and lending services for cryptos on the Ethereum blockchain.
During a live interview with Rug Radio, Trump’s team revealed new details about World Liberty Financial. They emphasized that the platform would be more "user-friendly" and accessible than other, more technical DeFi applications. Unlike typical DeFi projects, World Liberty Financial will be powered by a non-transferable governance token called WLFI, meaning users won't be able to trade it.
While the full details of Trump’s project remain unclear, World Liberty Financial promises to simplify DeFi services and make them more accessible to the broader public. Trump has criticized the idea of a U.S. CBDC, calling it a "threat to freedom." He has voiced opposition to the Federal Reserve creating such a currency, aligning himself with crypto advocates who oppose the potential government control that a CBDC might bring.
His campaign’s pro-crypto stance has drawn attention from figures in the industry, and Trump appears to have been influenced by former Republican candidate Vivek Ramaswamy, known for his support of digital assets. Trump also promised to reduce taxes, particularly lowering the capital gains tax, which would directly impact cryptocurrency investors.
Kamala Harris
Kamala Harris, the Democratic presidential nominee and current Vice President, has not yet taken a definitive public stance on cryptocurrency. 
However, her position may align with the approach taken by the Biden administration, which has seen increased legal engagement with the crypto sector. Under President Biden, the crypto sector has been under continuous pressure from every legal institution in the United States, starting from the SEC and ending with the DoJ. 
After the FTX collapse, the SEC hit the crypto industry with a massive wave of lawsuits, accusing top-notch crypto companies of bypassing fundamental investor protections. The two biggest ones were registered against Coinbase and Binance. The attacks on crypto continued as the SEC tried to block the appearance of a Bitcoin ETF. However, the decision was overruled by a federal judge in 2023, and now we have Bitcoin AND Ethereum ETFs around. 
Later that year, in September, the White House released a more detailed framework to guide the responsible development of crypto. It sought to unify the government’s approach to managing crypto risks and maximizing its potential benefits. By many, this framework was seen as a turning point in the Democrats’ relationship with crypto. 
Now, despite the lack of an official stance, Harris’ background in California’s tech industry and recent meetings with crypto leaders suggest she might adopt a moderate approach. 
Notably, she was publicly supported by JP Thieriot, a board member of the crypto platform Uphold, and has engaged with crypto Democrats through events like the "townhall" hosted by Crypto4Harris, a group that advocates for her within the industry.
Crypto Funds the US Politics 
Cryptocurrency's influence in U.S. politics has surged, marked by a staggering 1386% increase in lobbying expenditure over the last seven years. Since 2017, the crypto sector has funnelled vast amounts of money into political campaigns. Nearly 60% of this total spending, or $78.94 million out of $131.91 million, took place in just the past two years, 2022 and 2023.

In 2023, Apollo Global Management emerged as the top spender in crypto lobbying, contributing $7.56 million. Managed Funds Association followed with $4.11 million, while Coinbase spent $2.86 million. Coinbase’s lobbying expenditure has seen a dramatic 3475% increase since 2017, when it spent just $80,000. Over 74% of Coinbase’s total lobbying spend occurred in 2022 and 2023.
Binance.us also experienced a significant rise in lobbying, with an increase of 656.25% from $160,000 in 2021 to $1.215 million in 2023. Ripple saw a similarly impressive surge, with lobbying expenses jumping by 1780% from $50,000 in 2017 to $940,000 in 2023.
This rapid growth underscores the crypto industry's increasing efforts to shape regulation and policy, particularly as it seeks to influence the 2024 elections. Despite the industry's push, crypto remains a niche interest, with only 7% of Americans using or holding digital currency in 2023.
Five Ways the 2024 Election Will Affect the Crypto Market
Here are the five most probable ways that the 2024 election will affect the cryptocurrency market: 
Influence of Memes and Popular Culture
The 2024 election has been marked by a surge in meme culture, particularly around former President Donald Trump. 
With influential figures like Elon Musk supporting Trump, there has been an increase in the popularity of meme coins. This trend is reminiscent of past spikes in interest, where major events led to a broader awareness and investment in various cryptocurrencies. 
The chaotic nature of the current election, with its unexpected twists and turns, provides ample fodder for memes, further driving interest in meme coins. This phenomenon not only entertains but also serves as a gateway for new investors exploring the crypto space.
Candidates' Stances on Cryptocurrency
The candidates' positions on cryptocurrency regulation are significant. Trump, who was previously critical of digital assets, has become a vocal supporter, advocating for minimal regulation and even proposing a National Strategic Bitcoin Reserve. 
This stance is likely to appeal to pro-crypto voters and investors. In contrast, Vice President Kamala Harris's position is less clear. While the Biden administration has been perceived as tough on crypto, recent signals from Harris's camp suggest a potential shift towards a more business-friendly approach. 
The public perception of Harris as anti-crypto could lead to market volatility, depending on her campaign's messaging and actions.
Future Regulation of Cryptocurrency
The election could have lasting implications for the regulation of cryptocurrencies in the U.S. Currently, the Republican Party, including Trump, tends to favour less regulation, promoting a more laissez-faire approach. 
This contrasts with the Democratic Party's push for stronger oversight, particularly in the wake of incidents like the FTX collapse. However, the crypto industry has strategically donated to both parties, ensuring some level of support regardless of the election outcome. 
The lack of clear polarization among voters on this issue suggests that major regulatory changes may not be a central campaign focus, though behind-the-scenes lobbying remains influential.
Limited Impact on Voter Decisions
Despite the increasing prominence of cryptocurrency in public discourse, it remains a relatively minor issue for most voters. 
Key concerns such as inflation, healthcare, and immigration dominate the political landscape. As a result, politicians may not feel pressured to take definitive stances on crypto regulation. 
This allows for flexibility in policy positions, with the potential for crypto-friendly measures to gain traction without significant electoral repercussions. The industry's influence is likely to be felt more through lobbying efforts than direct voter engagement.
Rising Bitcoin Prices
The price of Bitcoin is notably higher than in previous election cycles, reflecting both the maturation of the cryptocurrency market and increased public interest. 
This trend underscores the growing importance of crypto assets in the financial portfolios of many voters. As Bitcoin remains the most well-known and widely held cryptocurrency, its performance can significantly impact public perception and confidence in the crypto market. 
Moreover, U.S. policies on cryptocurrency can have global repercussions, influencing international markets and regulatory approaches.
Conclusion
In the 2024 election, cryptocurrency has become a key issue. Both major parties are paying close attention to the large sums of money flowing into campaigns from crypto supporters. 
Donald Trump has embraced the crypto community with promises of a more favorable regulatory environment. Meanwhile, Kamala Harris and the Democrats are gradually addressing the topic but lag behind in enthusiasm. Crypto backers are heavily funding campaigns, hoping to sway the regulatory landscape in their favor. 
This influx of money is influencing not only the presidential race but also down-ballot contests, making it a critical issue in many campaigns. With so much at stake, the debate over crypto regulation will likely intensify as the election nears.

#TrumpCrypto #TrumpInCrypto #TrumpCryptoSupport #kamalaHarris #kamala
$BTC $XRP $BNB

#DonaldJTrump #ElonMuskUpdates #Eloncrypto #TrumpCryptoSupport
#TrumpInCrypto

New York: Former US President Donald Trump on Thursday pledged that, if elected in the US Presidential Election 2024, will set up a new task force that aims to conduct a complete financial and performance audit of the entire federal government and make recommendations for drastic reforms. “Tesla CEO Elon Musk has agreed to head that task force”, said Trump, in a video posted by the CSpan news network on its X platform. 

“To stop this onslaught at lower prices, I’m pledging today that in my second term we will eliminate a minimum of ten old regulations. For everyone, with new regulations, we’ll be able to do that quite easily. Actually, and instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and bitcoin.” Trump said on Thursday while addressing the Economic Club of New York.

“At the suggestion of Elon Musk, who has given me his complete and total endorsement, that’s a nice smart guy. He knows what he’s doing. Very much appreciated. I will create a Government Efficiency Commission task with conducting a complete financial and performance audit of the entire federal government and making recommendations for drastic reforms we need to do. It can’t go on the way we are now. And Elon, because he’s not very busy, has agreed to head that task force, be interesting if he has the time, be good one to do it, but he’s agreed,” Trump added.
He stressed that improper and fraudulent payments cost taxpayers an estimated hundreds of billions of dollars in 2022. He also announced that the commission will create an action plan to eliminate payments within months and added that it will save trillions of dollars, according to a video posted by CSpan on X.

Trump said, “In 2022, fraud and improper payments alone cost taxpayers an estimated hundreds of billions of dollars. As the first order of business, this commission will develop an action plan to totally eliminate fraud and improper payments within six months. This will save trillions of dollars trillions. It’s massive for the same service that you have right now, trillions of dollars is wasted and gone, and nobody knows where it went further, taming inaction and bringing prices way down.”
The Republican candidate also pledged to make Trump tax cuts permanent and announced that there will be no tax on tips. He even alleged US Vice President Kamala Harris to copy his plans and announced to impose no tax on tips. He stated that she will stick to her plan and will not move ahead. 
He further added, “The 5th pillar of my plan is to make the Trump tax cuts permanent. They are massive tax cuts, biggest ever permanent and to cut tax even more, and we will have no tax on tips, something which they copied four weeks after I said it. She got upset and said no tax on tips. I said I just said that she is actually copying a lot of my plans. In fact, we’re going to send her a MAGA sometime in the next week….But we also know she doesn’t mean it. She’s going to stick with what has been about and also no tax on Social security benefits.”
Donald Trump also pledged to save social security. He promised that he will not impose tax on the benefits of people in social security, stressing that they have been wiped out by the inflation.  Trump stated, “People in social security have been wiped out by inflation and now on top of it, we tax their benefits. We’re not going to tax their benefits. We have so many different ways of making so much money. This country, the potential is so incredible. We don’t have to take it away from people on social security. We’re not going to do that. We’re going to save social security. She’s going to destroy Social Security.”
According to the video posted by CSpan on X, Trump said that his administration has proved that targeted tax cuts do not increase the deficit but it reduces the deficit by growing the economy and raising revenue. 
He further added, “After we gave the massive tax cuts, we took in the following year with a much lower rate. Billions and billions of dollars more than we did the previous year with a high rate, think of that. So, with a much lower rate, we took in more money because people were incentivised.”
He vowed that he will work to reduce the corporate tax rate from 21 percent to 15 percent for the companies that make their product in the US. 
“Corporate tax revenues are 31 per cent higher today than before, my tax law was signed with all of those cuts 31 percent higher. To further support the revival of American manufacturing, my plan calls for expanded R&D tax credits, 100 percent bonus depreciation, expensing for no manufacturing investments, and a reduction in corporate tax rate from 21 percent to 15 per cent solely for companies that make their product in America,” he added.
Taking on X, Elon Musk welcomed Trump’s decision stating “This is badly needed.”