• Donald Trump welcomed NFT enthusiasts to his Florida home on May 8 and promised to fight for crypto and NFTs if he defeats Joe Biden in the November polls.
• He criticized the Biden administration’s hostile treatment of digital assets, including singling out Gary Gensler as anti-crypto while claiming credit for “making NFTs hot again.”

Once a fierce critic of Bitcoin, Donald Trump appears to have turned a corner and has now promised to protect the industry if he takes power later this year. At a recent event he hosted in Florida, the Republican presidential hopeful criticized the Biden administration’s crypto crackdown and promised attendees a friendlier regime under him.

Trump hosted dozens of crypto enthusiasts at his Florida home for an NFT-themed night. As expected, he didn’t mince words in criticizing the industry’s continued crackdown. How Crypto News Flash has reported For years, the SEC, CFTC, and several other government agencies have flexed their crypto muscles, shutting down companies and imposing harsher sentences on some of the offenders.

When asked about the continued hostility and relocation of American cryptocurrency companies abroad, Trump promised to protect the industry’s interests if he becomes president, stating:

Let’s stop this because I don’t want this, I don’t want this. If we want to embrace it, we have to let them be here.

Trump will fly the Republican Party flag in this year’s elections in November. He will face incumbent Joe Biden, to whom he lost the election four years ago. While he has claimed to be pro-innovation, Biden has overseen harsh legislation that threatens to stifle the crypto sector in the world’s largest economy.

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I asked Donald Trump how he will maintain the crypto business in America.

seems optimistic 🇺🇸 pic.twitter.com/rvuztPmQ8P

-Malcolm (33.3%) (@macdegods) May 9, 2024

Trump called out the entire administration, stating, “Gensler is totally against it. Democrats are totally against [but]I’m okay with it, I want to make sure it’s good and solid and everything, but I’m okay with it.”

Trump changes tone, supports crypto and NFTs

Although he’s in the crypto space now, the former reality TV star hasn’t always supported the industry. Three years ago, he stated that Bitcoin “just looks like a scam. I don’t like it because it’s another currency competing with the dollar.”

The melody changed. It now claims to be the industry’s best bet for continued growth in America.

If you ask Biden if he’s for or against encryption, he’ll ask, ‘What is that?’ If you are in favor of crypto, you better vote for Trump.

The real estate mogul further endorsed NFTs, claiming credit for rejuvenating the industry after it appeared to slow down recently. To begin with, to be invited to the event, you had to pay more than US$4,600 to buy one of Trump’s Mugshots NFTs.

There is no shortage of crypto and NFT projects bearing Trump’s likeness, most of them unofficially. One of them, Doland Tremp (TREMP), doubled its price on the back of the event; it is now worth $58.6 million.

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