Former US President and Republican presidential candidate Donald Trump raised $12 million at a fundraiser in San Francisco attended by prominent crypto leaders. “Trump said he would be the cryptocurrency president,” a tech executive said at the event.

Trump Raised Funds in Silicon Valley

Trump preferred Silicon Valley for campaign financing. According to Reuters, Trump raised $12 million at the event held at the home of technology entrepreneur David Sacks in San Francisco. This event was hosted by Social Capital CEO Chamath Palihapitiya.

Crypto Adoption Gains Speed

Trump's interest in crypto is growing ahead of the 2024 elections. Notable crypto leaders such as Gemini founders Cameron and Tyler Winklevoss also took part in the event. Trevor Traina, Chief Operating Officer of Tools for Humanity, stated that Trump promised to be the "president of cryptocurrency" at the event. Palantir Technologies consultant Jacob Helberg stated that Trump's anti-crypto policies of the Biden-Gensler administration will end in the second Trump administration.

Growing Interest Among Crypto Supporters

Republican National Committee member Harmeet Dhillon said Trump did not provide details about his crypto policy. However, crypto supporters continue to support Trump for the upcoming elections. Intercom CEO Eoghan McCabe explained on social media platform X that many of the people he spoke to at the event had voted or donated Democrats in the past, but now support Trump. He emphasized that these elections were a referendum on war and immigration policies.

Support for Crypto Is Growing

Trump announced his support for crypto in May, announcing that he would accept Bitcoin, Ether, Solana, Dogecoin and Shiba Inu cryptocurrencies for his campaign. At the Libertarian Convention, he stated that he would commute the sentence of Silk Road founder Ross Ulbricht, stop the creation of central bank digital currencies (CBDCs) in the United States, and support self-custody rights.

Biden's Crypto Strategy

President Joe Biden's re-election campaign has also begun reaching out to crypto industry players for guidance on the crypto community and policy.

Trump's interest in crypto and his fundraiser in Silicon Valley are attracting attention ahead of the 2024 elections. The crypto world is closely watching Trump's promises and policies.

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