Donald Trump reportedly announced his ambition to be the “crypto president” at the event, where he raised $12 million.
Former U.S. President Donald Trump is stepping up his support for cryptocurrency as part of his 2024 presidential campaign, now declaring his goal to become the “crypto president,” according to a recent Reuters report.
Published on June 7, the report, citing sources familiar with the event, states that Trump made this declaration 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 boost his campaign efforts ahead of the November 5 U.S. presidential election.
Trump also reiterated his support for cryptocurrency and his plans to advance the industry while highlighting the Democratic Party’s intention to implement strict regulations — which the U.S. crypto industry often describes as regulation by enforcement.
The statement comes in the wake of Biden’s controversial crypto decision.
This announcement follows a week after current U.S. President Joe Biden faced criticism from the crypto industry for vetoing a resolution that aimed to overturn the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121 — contentious crypto accounting guidelines requiring institutions that hold crypto assets to record them as liabilities on their balance sheets.
Summary Review: Trump’s recent declarations and fundraising success underscore his commitment to promoting cryptocurrency as a key part of his campaign, positioning himself as a champion for the crypto industry in contrast to the current administration’s regulatory approach.
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