Donald Trump doubles down on crypto support at fundraiser event: Report

Ciaran LyonsJun 08, 2024Donald Trump doubles down on crypto support at fundraiser event: ReportDonald Trump reportedly announced his goal to be the “crypto president” at the event, where he raised $12 million.22696 Total views11 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksFormer United States President Donald Trump is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign, now proclaiming his goal to become the “crypto president,” according to a recent Reuters report.

Published on June 7, citing sources familiar with the matter, Trump reportedly declared “he would be the crypto president” at a fundraising event in San Francisco hosted by Craft Ventures’ general partner, David Sacks and tech billionaire Chamath Palihapitiya. 

The event reportedly helped Trump raise $12 million to support his promotional efforts before the Nov. 5 U.S. presidential election.

Trump also reiterated his support for crypto and his plans to push the industry forward while pointing out the Democratic Party’s intention to take the opposite approach with harsh regulations — which the U.S. crypto industry commonly refers to as regulation by enforcement.The claim follows Biden’s controversial crypto decision

It comes only a week after current U.S. President Joe Biden received backlash from the crypto industry after vetoing a resolution that would have overruled the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121 — controversial crypto accounting guidelines requiring institutions that custody crypto assets to record crypto holdings as liabilities on their balance sheets.

This follows several recent public declarations by Trump showing his support for the crypto industry.

On May 26, Cointelegraph reported that Trump reiterated the U.S. must not settle for anything less than first place in the crypto industry.

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“Our country must be the leader in the field, there is no second place,” Trump declared in a May 25 post on Truth Social — a social media platform owned by Trump Media and Technology Group.

“I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” he added.

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