For those in the crypto community, a non-hostile President is key to the advancement of the blockchain industry and the digital asset markets.
Increasingly, Presidential candidates are being asked where they stand on the issue of digital currencies—crypto regulation is quickly becoming a battleground issue for 2024 voters.
President Trump has somewhat of a murky history with cryptocurrencies. Previously he denounced Bitcoin and crypto, yet he has launched some crypto projects of his own in the form of several NFT collections.
A prominent member of the crypto community asked President Trump what he was going to do to ensure that crypto, blockchain, and web 3.0 firms don’t leave America.
The former President recently clarified his stance on crypto during the exclusive event saying that he would end the hostility toward crypto and embrace digital innovation here and now—not letting foreign countries do it first.
Watch the moment President Trump said he would bring about a friendlier climate for crypto:
i asked donald trump how he’s going to keep crypto businesses in america.
sounds bullish 🇺🇸 pic.twitter.com/rvuztPmQ8P
— Malcolm (33.3%) (@macdegods) May 9, 2024
BREAKING: DONALD TRUMP IS FINE WITH CRYPTO pic.twitter.com/SCJDKdHQUB
— Frank (33.3%) (@frankdegods) May 9, 2024
CoinDesk shared the findings of this research report conducted by Standard Chartered Bank:
Donald Trump could also be a boon for cryptocurrencies.
“We think that a second Trump administration would be broadly positive via a more supportive regulatory environment,” the report said.
“In a scenario of U.S. fiscal dominance, we think bitcoin (BTC) would provide a good hedge against de-dollarization and declining confidence in the U.S. Treasury market,” analyst Geoff Kendrick wrote.
The crypto community was quick to react to the news and threw their support behind the 45th President for the upcoming 2024 Presidential election.
Well…
I didn’t expect to share that I was in Mar-a-Lago tonight, but President Trump spoke very highly about crypto and then…invited me and @MihailoBjelic on stage to say a few words.
Fight for crypto.
Support President Trump. pic.twitter.com/bPAnvFlxMp
— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) May 9, 2024
NEW EPISODE ‼️ – #Bitcoin Daily
In addition to the economy, inflation, and the home affordability crisis, crypto has now entered the lexicon as a major battle ground in the upcoming election after Former President Donald Trump makes a statement in support of it. 🇺🇸
Meanwhile,… pic.twitter.com/c5ix3EAQTv
— Swan (@Swan) May 9, 2024
Business Insider added that entrance to the exclusive Mar-a-Lago event was guaranteed via NFTs:
Guests eligible for the event had bought at least 47 NFTs from the “Mugshot Edition” collection, according to a copy of an invitation reviewed by the outlet. The mugshot NFTs cost $99 apiece.
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