Trump 2024 Campaign Embraces Crypto Donations: Details

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In a notable development, former United States President Donald Trump, who is currently facing criminal charges in four jurisdictions, has announced that his 2024 presidential campaign will accept cryptocurrency donations. 

The announcement, made on May 21, underscores Trump’s evolving stance on digital assets as he seeks to return to the White House.

Trump 2024 is Crypto-Friendly

The Trump 2024 campaign has launched a dedicated fundraising page allowing eligible individuals to donate using a variety of cryptocurrencies via Coinbase Commerce. The campaign website prominently displays logos for Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), XRP, USD Coin (USDC), Solana (SOL), and 0x (ZRX). 

The announcement also took a swipe at Senator Elizabeth Warren, alleging without evidence that she was acting as President Joe Biden’s “official surrogate” in Congress while attacking cryptocurrency.

May 8 Dinners with Supporters Who Bought NFTs

Trump’s decision to embrace cryptocurrency donations follows a May 8 dinner with supporters who had purchased a non-fungible token (NFT) featuring a mugshot taken during his surrender at a Georgia jail. 

During the event, Trump promised that attendees would be able to contribute to his campaign using crypto. With 2024 Election Day less than six months away, Trump is the presumptive Republican nominee and is likely to face President Biden, the expected Democratic nominee.

Trump to Participate in a TV Debate

In response to a challenge from President Biden, Trump agreed on May 15 to participate in televised debates on CNN and ABC, scheduled for June 27 and September 10, respectively. Although the terms have not yet been finalized, these debates could mark the first in-person confrontation between the two candidates since the 2020 election, which Biden won.

Despite the campaign’s new crypto fundraising initiative, the Trump 2024 campaign website does not specifically address digital assets or blockchain technology on its ‘issues’ page. President Biden, meanwhile, has rarely commented publicly on cryptocurrency but did sign an executive order in 2022 aimed at establishing a regulatory framework for digital assets.

Timing Coincides with NY Criminal Trial

The timing of Trump’s crypto donation announcement is significant as it coincides with the jury in his New York criminal trial preparing for deliberations. Trump has been required to appear in a Manhattan courtroom, where he faces charges of falsifying business records related to a $130,000 payment to adult film star Stormy Daniels. 

In addition, he faces charges in Georgia and the District of Columbia for allegedly attempting to overturn the 2020 election results and in Florida for mishandling classified documents.

Trump’s views on cryptocurrency have evolved since 2021, when he dismissed Bitcoin as a scam and expressed a preference for the U.S. dollar as the world’s currency. 

However, as the 2024 election approaches, digital asset policies have gained prominence, with Trump’s rivals Vivek Ramaswamy and Ron DeSantis making statements on central bank digital currencies (CBDCs). Trump himself declared in a January 2024 campaign event that he would oppose the creation of a CBDC in the United States.

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