Trump’s campaign has opened a channel for cryptocurrency donations through Coinbase Commerce, a move that underscores his goal of reducing government intervention in individuals’ financial choices and stands in stark contrast to the Biden administration’s tougher approach to cryptocurrencies.
On May 21, former U.S. President Donald Trump’s campaign team launched a fundraising page that allows legal donors to donate using cryptocurrency through Coinbase Commerce. This strategy not only demonstrates Trump’s open attitude toward cryptocurrency, but also contrasts with the current administration’s stance on digital assets.
Trump campaign accepts up to 8 cryptocurrencies
Trump's campaign announced that supporters can now donate to Trump's campaign using cryptocurrency through a specific website. All cryptocurrency donations will be subject to the limits and disclosure requirements set by the Federal Election Commission.
In the announcement, Trump's campaign team emphasized that his goal is to "reduce government control over Americans' financial decisions." He also believes that accepting cryptocurrency donations reflects his commitment to an agenda that "values individual freedom over increased socialist government control."
The announcement also referenced Elizabeth Warren’s criticism of cryptocurrencies, claiming she wanted to build an “anti-crypto army” to limit Americans’ financial freedom options. And now, Trump supporters will build their own “crypto army” with new cryptocurrency options to push the campaign to victory on November 5.
The mention of MAGA is particularly interesting here, as MAGA is a Trump-themed meme coin. It seems that Trump hopes to use this asset to symbolically express his campaign’s acceptance of cryptocurrencies.
Trump's team also accepted a variety of cryptocurrencies including Bitcoin ($BTC), Ethereum (ETH), Solana (SOL), Circle (USDC), Ripple (XRP), Dogecoin (DOGE), 0x (ZRX) and Shiba Coin (SHIBA). Supporters can choose to customize the donation amount or choose from preset options such as $20.24, $2,024, $45, $47 and $4,547. The numbers 45 and 47 represent Trump's identity as the 45th President of the United States and his goal to become the 47th President.
Although Trump's team promoted him as the "first major party nominee to accept cryptocurrency donations," he did not actually become the official nominee until July. In addition, it is worth mentioning that in 2015, Republican Senator Rand Paul had already accepted Bitcoin donations for his presidential campaign, indicating that Trump is not the first politician to accept such donations.
Trump, speaking at an event at Mar-a-Lago where supporters could donate in cryptocurrencies, pledged a friendlier approach to the crypto industry, criticizing current U.S. regulation.
Trump’s political move is particularly significant against the backdrop of the Biden administration’s stricter stance on the digital asset industry, in stark contrast to his skeptical attitude toward cryptocurrencies during his presidency from 2017 to 2021.
Despite this, many believe that Trump’s policies could have a positive impact on the crypto industry. Geoffrey Kendrick, a researcher at Standard Chartered Bank, once pointed out that Trump’s administration may take more relaxed cryptocurrency regulatory measures than the Biden administration.
This potential policy shift could incentivize foreign official buyers to explore alternative financial assets such as Bitcoin, potentially driving its price higher.
Conclusion:
Trump's campaign team accepted cryptocurrency donations, demonstrating its support for financial freedom and technological innovation. At a time when global cryptocurrency regulation is tightening, Trump's strategy may bring new opportunities to the industry. By embracing cryptocurrency, Trump not only broadens the channels for raising funds, but also sends a positive signal to his supporters and the entire crypto community.
Although Trump is not the first politician to accept cryptocurrencies, his actions indicate that a more relaxed policy may be adopted towards the crypto industry in the future. This potential policy shift may stimulate foreign investors' interest in financial assets such as Bitcoin, which in turn promotes the development and maturity of the cryptocurrency market. As Trump's friendly stance on cryptocurrencies becomes clear, we expect cryptocurrencies to play a more important role in American politics and finance. #特朗普 #加密货币 #竞选捐款
