Former CFTC Chairman Chris Giancarlo recently dubbed Donald Trump as "America's first crypto president," highlighting Trump's pivotal role in the cryptocurrency industry since his presidency.
Learn how Trump's actions and policies have influenced the crypto market, including the approval of the Bitcoin Futures ETF and his ongoing support for digital currencies. Dive into the full story to understand Trump's impact on the future of cryptocurrency.
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Trump’s Importance to the Development of Cryptocurrencies
Former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Chris Giancarlo, revealed at the Cryptocurrency Policy Summit held in Washington D.C. last week that "former President Donald Trump has already earned the title of 'America's first crypto president.'" This statement was reported by FOX BUSINESS and other outlets.
In a campaign speech on May 9, Donald Trump made various remarks supporting cryptocurrency, notably stating, "If you support cryptocurrency, you should vote for Trump." These comments have garnered significant attention within the crypto community.
Chris Giancarlo explained that the anticipation surrounding Trump in the cryptocurrency industry is not new. Trump has played a pivotal role in the crypto space since his inauguration as U.S. President in 2017.
Approval of Bitcoin Futures ETF in His First Year
One of the key points Giancarlo highlighted was the approval of the Bitcoin Futures ETF in the United States during Trump's first year in office.
This demonstrates that Trump's involvement in the cryptocurrency sector extends beyond recent supportive statements and includes significant past contributions.
Giancarlo further elaborated that "the approval of the Bitcoin Futures ETF during the Trump administration strengthened the status of Bitcoin as a leading currency and bolstered the power of the dollar." He also noted that this approval paved the way for the launch of a Bitcoin Spot ETF.
Giancarlo also mentioned that in 2017, when he and other CFTC members united in support of regulatory reforms, cryptocurrency was not yet a politically charged issue.
In a recent speech, Trump expressed his desire to end the hostile stance toward cryptocurrency. He also commented on the current president and Democratic candidate, Joe Biden, stating, "Even if you asked Biden about cryptocurrency, he wouldn't understand anything about it."
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Donald Trump's Pro-Cryptocurrency Remarks in Election Speeches
Discover how Donald Trump, once a critic, has become a vocal supporter of cryptocurrencies in his 2024 election campaign, advocating for the acceptance of crypto donations and the cessation of regulatory hostility.
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