Donald Trump Vows to Be the 'Crypto President' — Pledges to End Biden-Gensler Crypto Policies Within One Hour
Former U.S. President and presidential candidate Donald Trump has pledged to become “the crypto president” if re-elected. He vowed to terminate the anti-crypto policies introduced by Joe Biden and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, emphasizing that their policies “will grind to a halt within one hour of a second Trump administration.”
Trump Sees Himself as ‘the Crypto President’
U.S. presidential candidate and the 45th President Donald Trump reportedly positioned himself as a strong advocate for cryptocurrency and criticized Democratic regulatory efforts during a high-profile San Francisco fundraiser on Thursday, according to three sources who spoke to Reuters.
The event, held at billionaire investor David Sacks’ home in Pacific Heights, raised $12 million and was co-hosted by venture capitalist Chamath Palihapitiya. Trevor Traina, a tech executive and former Trump ambassador to Austria, explained that Trump made a declaration about cryptocurrency, stating:
He said he would be the crypto president.
Republican National Committeewoman Harmeet Dhillon told the news outlet that key figures from the crypto industry, including executives from the Nasdaq-listed crypto exchange Coinbase and Gemini co-founders Tyler and Cameron Winklevoss, attended the fundraiser. Sacks and Palihapitiya have publicly discussed their investments in cryptocurrencies, especially bitcoin. This event marked the first major fundraiser following Trump’s conviction on 34 felony counts.
Amid heightened regulatory scrutiny, the crypto industry has ramped up its efforts to influence U.S. politicians. Trump has been actively courting the crypto sector, recently pledging to stop President Joe Biden’s crusade to crush crypto and ensure that the future of bitcoin and other cryptocurrencies will be shaped in the U.S., not driven overseas.
Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), considers Trump America’s first crypto president due to the approval of bitcoin futures exchange-traded funds (ETFs) during his administration. Trump has recently criticized President Joe Biden’s understanding of cryptocurrency, urging crypto supporters to vote for him. In March, the former U.S. president referred to bitcoin as “an additional form of currency.” In February, he acknowledged BTC’s growing popularity, stating that bitcoin has taken on a life of its own and that he “can live with it.”
Commenting on the U.S. Securities and Exchange Commission (SEC)’s approach to regulating the crypto industry and Chair Gensler’s enforcement-centric actions, Jacob Helberg, an adviser to Palantir, quoted Trump saying:
President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration.
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