Donald Trump, the former U.S. President and current presidential candidate, has declared his intention to become known as "the crypto president" if he secures a second term in office. He has promised to overturn the anti-crypto policies put in place by Joe Biden and SEC Chair Gary Gensler, stating that their regulations will be swiftly reversed within the first hour of his re-election.
During a recent high-profile fundraiser in San Francisco, Trump reportedly spoke passionately about his support for cryptocurrency and criticized the regulatory efforts of the Democratic party. The event, which raised $12 million and was hosted by billionaire David Sacks, saw the attendance of key figures from the crypto industry, including executives from Coinbase and Gemini. Trump's declaration to become the "crypto president" was met with enthusiasm from attendees, who have been increasingly concerned about regulatory scrutiny in the sector.
Chris Giancarlo, former chairman of the CFTC, has hailed Trump as America's first crypto president, citing his approval of bitcoin futures ETFs during his previous administration. Trump has been vocal in his criticism of Biden's stance on cryptocurrency, urging supporters of crypto to back him instead. He has acknowledged the growing popularity of bitcoin and emphasized the importance of shaping the future of cryptocurrencies within the U.S.
In response to the SEC's enforcement-centric approach to regulating the crypto industry under Chair Gensler, Trump's adviser Jacob Helberg quoted the former president as saying that any efforts to curb crypto will come to a halt under his leadership. With the crypto community increasingly looking to influence U.S. politicians, Trump's pledge to support and champion cryptocurrency has gained significant attention. What are your thoughts on Trump's bid to become known as the crypto president? Share your opinions in the comments below.