Donald Trump Doubles Down on Cryptocurrency Support at Fundraisers — Report

According to a recent Reuters report, former US President Donald Trump is stepping up his advocacy for cryptocurrency as part of his 2024 presidential campaign and is currently declaring his goal to become a ‘crypto president.’

On June 7, Trump declared “he will be the cryptocurrency president” at a fundraiser in San Francisco hosted by David Sacks, general partner at Craft Ventures, and tech billionaire Chamath Palihapitiya, according to people familiar with the matter. It is known.

The event reportedly helped President Trump raise $12 million to support his promotional efforts ahead of the November 5 US election.

Trump also reiterated his support for cryptocurrencies and his plans to advance the industry, while pointing out Democrats’ intention to take the opposite approach with harsh regulations, commonly referred to as enforcement-by-implementation regulations, on the cryptocurrency industry in the United States.

This claim follows Biden’s controversial cryptocurrency decision.

This comes just a week after current U.S. President Joe Biden received backlash from the cryptocurrency industry after vetoing a resolution to dismiss the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121. An institution that stores cryptocurrency assets in order to record cryptocurrency holdings as liabilities on its balance sheet.

This follows several recent public declarations by Trump expressing support for the cryptocurrency industry.

On May 26, Cointelegraph reported that President Trump reiterated that the United States should not settle for anything other than first place in the cryptocurrency industry.

Related: The TRUMP token has recovered from a severe downturn following Donald Trump’s conviction.

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

“I am very positive and open-minded about cryptocurrency companies and everything related to this new and fast-growing industry,” he added.

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