Former US president and presidential candidate Donald Trump has promised that he will become “the crypto president” if re-elected. He vowed to put an end to the anti-crypto policies introduced by Joe Biden and US Securities and Exchange Commission (SEC) Chairman Gary Gensler, stressing that their policies “came within an hour of a second Trump administration will come to a standstill.”
Trump sees himself as ‘the crypto president’
U.S. presidential candidate and 45th President Donald Trump has reportedly positioned himself as a strong supporter of cryptocurrency and criticized Democratic regulatory efforts during a high-profile fundraising event in San Francisco 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 statement on cryptocurrency, saying:
“He said he would be the crypto president.”
Republican National Committeewoman Harmeet Dhillon told the news agency that major crypto industry figures, including executives from Nasdaq-listed crypto exchange Coinbase and Gemini co-founders Tyler and Cameron Winklevoss, attended the fundraiser. Sacks and Palihapitiya have spoken publicly about their investments in cryptocurrencies, specifically Bitcoin (BTC). The event marked the first major fundraiser following Trump’s conviction on 34 crimes.
Amid increased regulatory attention, the crypto industry has stepped up its efforts to influence U.S. politicians. Trump has been actively reaching out to the crypto sector, recently promising to end President Joe Biden’s crusade to destroy crypto and ensure the future of Bitcoin and other cryptocurrencies is shaped in the US, not driven abroad.
Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), considers Trump America’s first crypto president due to his approval of Bitcoin futures exchange-traded funds (ETFs) during his administration. Trump recently criticized President Joe Biden’s understanding of cryptocurrency and urged crypto supporters to vote for him. In March, the former US president called Bitcoin “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.”
Jacob Helberg, an advisor for Palantir, quoted Trump on the SEC’s approach to regulating the crypto industry and Chairman Gensler’s enforcement actions:
“President Trump made it clear that the Biden-Gensler crusade against crypto will come to a halt within an hour of a second Trump administration.”
Source: https://cryptobenelux.com/2024/06/09/trump-benoemt-zichzelf-als-crypto-president-bij-verkiezingen/
