Trump’s Support for Cryptocurrencies
Ex-US President Donald Trump has recently shown strong support for cryptocurrencies, stating that he embraces “all things related to this new and burgeoning industry.” Speaking at the Libertarian National Convention, Trump reiterated his pro-crypto stance, affirming his positive and open-minded attitude towards cryptocurrency companies. Criticizing President Biden’s anti-crypto measures, Trump assured that he would never let crypto die, asserting, “That will never happen with me.”
- Trump’s endorsement of crypto comes at a time when President Biden is under scrutiny for his stance on cryptocurrencies.
- The approval of eight spot Ethereum ETF applications by the US Securities and Exchange Commission signals a growing acceptance of cryptos in traditional finance.
Cryptocurrency’s Role in the 2024 US Elections
Shark Tank billionaire Mark Cuban, known for his open support of Biden, has expressed concerns about Trump’s sudden embrace of cryptocurrencies. Cuban suggested that Trump’s pro-crypto stance might influence the outcome of the upcoming 2024 elections. He emphasized the significance of crypto voters in shaping the political landscape, hinting at a potential shift in power if Biden fails to address their concerns.
“Crypto voters will be heard this election,” Mark Cuban stated on Twitter.
Despite a relatively low percentage of Americans currently using crypto, the upcoming elections are expected to witness substantial financial investments from crypto businesses. According to a report by Politico, these businesses are projected to spend over $80 million in the 2024 elections, highlighting the growing importance of cryptocurrencies in US politics.
