NewsletterDonald Trump Courts Crypto Enthusiasts, Pledges Full Support
Highlights
- Donald Trump said" If you're in favour of crypto, you better vote Trump".
- Trump assured that unlike the Biden administration he won't impose regulatory enforcement on crypto.
- Trump added that he's surprised with the rate of crypto adoption in recent years.
Donald Trump, the Republican nominee for the 2024 U.S. Presidential Elections, has publicly voiced his support for cryptocurrencies, asserting his commitment to safeguarding the interests of crypto investors. During his campaign address, the Trump administration criticized the Biden administration for its perceived lack of understanding of cryptocurrency operations, alleging heavy-handed regulatory measures against digital assets.
Joe Biden vs. Donald Trump – The Crypto Battlefield
In his latest presidential campaign speech, the Republican candidate stated: “If you like crypto in any form…and it comes in many forms…if you’re in favor of crypto, you better vote Trump.”
Presidential candidate Donald Trump has been very clear that he would not crack down on Bitcoin and other digital assets by using regulatory power. “I have seen there has been a lot of use of that. “And I’m not sure that I’d want to take it away at this point,” he said during an interview with CNBC last month.
However, Donald Trump’s views on Bitcoin were not the same back in 2021 when he termed Bitcoin as a “scam” and something that threatens USD’s status as the world’s reserve currency. But he still talks about protecting the Dollar. “I want one currency, I want the dollar, I don’t want people leaving the dollar,” he continued.
Donald Trump says “If you’re in favor of Crypto, you better vote for Trump” pic.twitter.com/5AGYIfsNOg
— Randi Hipper (@missteencrypto) May 9, 2024
However, over the last few years, Donald Trump has dabbled into the world of digital assets by launching his self-branded NFTs in the market. “People were going crazy for these things [NFTs], and so many of these were bought with this new cryptocurrency and I couldn’t believe the amount,” he said.
Popular crypto analyst Will Woo stated that this could probably be the last time when an anti-crypto government has little chance of winning an election.
15% of the 258m adults in the US hold crypto.
Based on US crypto adoption growth rates, I suspect this election year will be the last time a government can feasibly win while still being anti-crypto. pic.twitter.com/LXOOZHbHJe
— Willy Woo (@woonomic) May 9, 2024
Democrats vs Republicans
Fox News Journalist Eleanor Terret mentioned that the debate over cryptocurrency took center stage as the two leading presidential contenders staked out contrasting positions.
President Joe Biden aligned himself with Senator Warren and SEC chair Gary Gensler, expressing unwavering support for the SEC’s regulatory approach, and emphasizing regulation by enforcement.
Meanwhile, Donald Trump has taken a different stance, vowing to end the adversarial stance towards crypto in the United States. He further pledged to actively embrace cryptocurrency by accepting campaign donations in digital assets.
The two presidential frontrunners planted their flags on very different sides of the #crypto debate today. @POTUS made clear he would side with @SenWarren and @GaryGensler by continuing to support the @SECGov’s regulation by enforcement.@realDonaldTrump said he would stop the…
— Eleanor Terrett (@EleanorTerrett) May 9, 2024
In an interesting development, some Democrats also joined the Republicans to pass a resolution that nullifies SAB 121. However, the Biden administration has opposed this bill.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- OCC Confirms That Banks Can Facilitate No-Risk Crypto Transactions
- Bitcoin, Ethereum, XRP, Solana Rally Ahead of Fed Rate-Cut Decision
- Bitwise Multi-Crypto ETF Featuring Bitcoin, Ethereum, XRP, Solana, Cardano Goes Live
- Standard Chartered Lowers Bitcoin Year-End Target to $100K Amid Crypto Sell-Off
- Breaking: USDC Issuer Circle Taps Into Privacy Trend with USDCx Launch on Aleo
- HYPE Price Drops 7% as $2.2M Shift and 10M Token Unlocks Stir Fear — What’s Next?
- Ethereum Price Breaks $3,390: What’s Driving 10% Surge?
- Shiba Inu Price Surges as Whale Transfers Hit Highest Levels Since June
- Bitcoin Price Alarming Patterns Point to a Dive to $80k After FOMC Decision
- Pi Network Price Could Surge to 15%, But Watch Out for This
- Cardano Price Prediction – Analyst Eyes 56% Rally as Taker Buy Dominance Strengthens
