Former President Donald Trump has reinforced his commitment to the cryptocurrency sector, declaring his ambition to be recognized as the “crypto president.” This stance was highlighted during a recent fundraiser, which successfully raised $12 million to support his campaign to unseat President Joe Biden.
Fundraiser Hosted by Industry Leaders
The event, hosted by venture capitalists David Sacks and Chamath Palihapitiya, attracted notable figures from the crypto world. Attendees included the Winklevoss twins, co-founders of Gemini, and executives from Coinbase, among other industry leaders.
The significant turnout and substantial donations reflect strong support from the crypto community.
Trump’s Pro-Crypto Agenda
During the fundraiser, Trump pledged to overturn the current administration’s adversarial stance on cryptocurrencies within the first hour of his potential return to office. He criticized President Biden’s approach to economic, border, and foreign policies, with Sacks publicly endorsing Trump’s leadership as superior based on a comparative analysis of their terms.
Bitcoin Surge Predicted
Standard Chartered predicts that Bitcoin could reach $150,000 under Trump’s pro-crypto policies. Geoff Kendrick, head of digital assets research at Standard Chartered, noted that Trump’s support for the crypto sector contrasts sharply with Biden’s, who recently vetoed efforts to repeal SEC policy SAB 121, criticized for stifling industry growth.
Crypto Industry’s Political Involvement
The upcoming elections are seeing increased involvement from the crypto industry, aiming to shift the traditionally anti-crypto stance of the US government. Stuart Alderoty, Ripple’s chief legal officer, emphasized the critical role of crypto participation in shaping favorable regulatory environments.
