Trump makes crypto pitch at Fundraiser
At a fundraising event on Friday, Republican presidential candidate Donald Trump, who has faced legal challenges, positioned himself as a staunch advocate for cryptocurrency, as noted by individuals in attendance.
Attendees at the event, as per a Reuters report, conveyed that Trump embraced a favorable stance towards cryptocurrencies. "He declared himself as the crypto president," shared Trevor Traina, who served as the ambassador to Austria under Trump's administration.
Though Trump did not delve into detailed crypto policy plans, he reportedly stated that the aggressive posture of the Biden administration and SEC Chair Gary Gensler against cryptocurrencies would come to an abrupt end the moment he reassumes office, according to Jacob Helberg, a senior policy consultant to the CEO of analytical firm Palantir.
Notable figures from the cryptocurrency sphere, including executives from Coinbase and Gemini’s co-founders Tyler and Cameron Winklevoss, were said to be among the attendees of the fundraiser.
The political sphere is buzzing with discussions on cryptocurrency, fueled further by bipartisan support for significant cryptocurrency regulation legislation last month, and the unexpected sanctioning of several U.S. spot Ethereum ETFs hailed as a major development for the cryptocurrency industry.
"It appears cryptocurrency has elevated to a crucial political topic," Ethereum’s co-founder Joe Lubin remarked to Decrypt, suggesting that the political landscape has evolved to give cryptocurrencies considerable attention.
According to crypto industry lobbyists, the introduction and bipartisan endorsement of a bill aimed at overturning the SEC rule SAB 121, which President Joe Biden had initially threatened to veto, signifies a shift in the political narrative.
However, Biden executed his veto earlier this month, expressing concern that such a reversal could potentially weaken the SEC's jurisdiction over accounting practices.
Republicans, on their part, are seeking to brand themselves as supportive of the crypto industry, with Trump at the forefront, criticizing the current administration’s stance on crypto and endorsing Bitcoin donations.
Following the revelations from Trump's fundraising event, PolitiFi’s meme coins showed marginal fluctuations, with the MAGA (TRUMP) coin ascending by 7%, whereas other Trump-related cryptocurrencies displayed a downturn.
Cameron Winklevoss Gary Gensler
