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Former President Donald Trump has reportedly positioned himself because the “crypto president” at a San Francisco fundraiser, elevating $12 million within the course of.
What Occurred: On Thursday, Trump, a Republican presidential candidate, expressed his help for the cryptocurrency trade and criticized the Democratic Occasion’s efforts to manage it at a fundraiser in San Francisco, reported Reuters.
He raised $12 million on the fundraiser hosted by tech enterprise capitalists David Sacks and Chamath Palihapitiya at Sacks’ residence within the upscale Pacific Heights neighborhood.
The previous President who’s vying to unseat Democratic incumbent Joe Biden within the upcoming election, didn’t present particular particulars about his proposed crypto coverage.
See Additionally: Kitty-Themed Crypto Pumps 65% In Anticipation Of ‘Roaring Kitty’ YouTube Livestream, Buying and selling Quantity Extra Than Doubles
Regardless of San Francisco’s predominantly liberal setting, a number of outstanding native enterprise capitalists and crypto traders have thrown their help behind Trump, citing what they understand as extreme regulation as a key cause.
“He mentioned he can be the crypto president,” mentioned Trevor Traina, a San Francisco-based tech government and former Trump ambassador to Austria.
Why It Issues: This comes within the wake of elevated scrutiny of the crypto trade by regulators, following the collapse of main crypto companies in 2022. Final month, Biden vetoed a bipartisan decision meant to overturn the Securities and Trade Fee’s crypto custody steerage.
Trump’s stance on crypto has advanced considerably over time. In 2021, he referred to it as a “catastrophe ready to occur,” however by 2024, he had turn into a vocal supporter, even proudly owning a crypto portfolio value over $33 million at one level.
The 2024 presidential election is shaping as much as be a detailed race, with Trump’s lead over Biden dropping to only one level. The previous President’s robust help for the crypto trade might play an vital function in his marketing campaign technique.
Learn Subsequent: Right here’s How A lot Simply $100 In Bitcoin Will Be Value If Cathie Wooden’s BTC Prediction Is Appropriate
Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and printed by Benzinga editors.
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