Donald Trump Vows to Become the ‘Crypto President’ in Fundraising Event
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Former United States President Donald Trump is ramping up his advocacy for cryptocurrency, now setting his sights on becoming the “crypto president.”
He made the comment during a fundraising event in San Francisco, co-hosted by Craft Ventures’ general partner, David Sacks, and tech billionaire Chamath Palihapitiya, according to a recent Reuters report.
At this gathering, Trump purportedly affirmed his commitment to cryptocurrency, asserting his readiness to champion the industry’s advancement, while cautioning against the Democratic Party’s purported inclination towards stringent regulations.
The fundraising event proved to be a significant boon for Donald Trump’s promotional efforts, reportedly netting a substantial $12 million in support ahead of the November 5 U.S. presidential election.
Donald Trump’s embrace of cryptocurrency aligns with his broader strategy to distinguish himself from the policies espoused by the current administration, particularly in light of President Joe Biden’s recent decision that drew ire from the crypto community.
Just a week prior, Biden faced criticism after vetoing a resolution aimed at overturning the controversial U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121.
This bulletin, which mandates institutions holding cryptocurrency assets to record them as liabilities on their balance sheets, has been a point of contention within the industry.
Trump’s vocal support for cryptocurrency is not new, as evidenced by several recent public statements.
On May 26, he
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