Former President Donald Trump has taken a groundbreaking step in the 2024 U.S. presidential race by accepting cryptocurrency donations.
Utilizing Coinbase Commerce, his campaign now supports various digital currencies, including BTC, ETH, SOL, and more.
This move underscores his administration's commitment to financial innovation and contrasts sharply with the stance of the Biden administration. Learn more about how Trump's crypto-friendly approach might influence the upcoming election.
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Accepting Various Cryptocurrencies via Coinbase Commerce
On May 21, 2024, former U.S. President Donald Trump announced that he would be accepting cryptocurrency donations for his presidential campaign ahead of the upcoming election in November.
Donations in cryptocurrency can be made through a newly launched dedicated page, where authorized donors, as recognized by the U.S. federal government, can input their name, email address, address, and occupation to contribute using cryptocurrencies.
The acceptance of cryptocurrency donations is facilitated by "Coinbase Commerce," a service provided by the cryptocurrency exchange Coinbase that allows businesses to accept various cryptocurrencies.
Through this platform, donations can be made using a variety of cryptocurrencies, including:
- BTC
- ETH
- SOL
- USDC
- XRP
- DOGE
- ZRX
- SHIB
Trump Administration's Active Adoption of Cryptocurrency
The official announcement highlights that "this is the first time a major party presidential candidate has adopted cryptocurrency for donation acceptance."
Additionally, the statement reads, "Donald Trump, as president, supported financial technology innovation by easing regulations, unlike the Democratic party members like President Biden and his official representative Elizabeth Warren, who believe that only the government knows how our country should lead the world."
In a speech on May 9, Trump expressed his desire to "end the adversarial stance towards cryptocurrency," stating, "If you support cryptocurrency, you should vote for Trump."
Furthermore, a report released this month by Standard Chartered, a global investment bank headquartered in London, suggests that "a victory for Donald Trump in the U.S. presidential election could be positive for cryptocurrencies."
Regarding the Biden administration, some opinions suggest that "if the current application for an Ethereum spot ETF is not approved, it will reinforce the impression that the Biden administration is negative towards cryptocurrency, potentially benefiting Trump."
Consequently, there are speculations that the Biden administration might make a 180-degree turn and approve the Ethereum spot ETF to avoid this outcome.
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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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