NFTs
Trump’s Latest Campaign Strategy: Open to Crypto Donations
Former US President Donald Trump has announced that his presidential campaign will now accept cryptocurrency donations. Trump made the announcement during a special event for holders of his “Mugshot Edition” non-fungible tokens (NFTs) at his residence in Mar-a-Lago, Florida.
Trump’s decision highlights his continued involvement in cutting-edge technology and digital assets. In a broader context, this also marks a significant shift in political fundraising strategies and aligns with growing digital trends.
From NFTs to cryptocurrencies: Trump’s digital campaign trail
The revelation came through a short video released by Frank DeGods, co-founder of the DeGods and y00ts projects. In the video, Trump confidently answers a question about crypto donations.
“If you can’t, I’ll make sure you can. We can donate to the Trump campaign using encryption? I believe the answer is yes,” Trump answered.
See more information: How to donate crypto using the donation block
Although this bold statement has spread across various social media platforms, especially X (formerly Twitter), it still awaits further details from the Trump campaign team.
Continuing his dialogue on the subject, Trump addressed concerns about the US regulatory environment. Some believe this environment is driving cryptoentrepreneurs abroad.
When Malcolm, chief of staff at De Labs (DeGods and y00ts’ parent company), asked how he plans to handle the exodus of American crypto players, Trump labeled the current regulatory measures as “hostility.” He also promised a more welcoming approach.
“Let’s stop because I don’t want this. If we’re going to embrace it, we have to let them [crypto industry players] be here,” Trump asserted.
Post-announcement, meme coins linked to political figures experienced an increase in their market value. These include Doland Tremp (TREMP) and Jeo Boden (BODEN). TREMP increased notably from 0.0017 Solana (SUN) to 0.0047 SOL (roughly $0.24 to $0.67) before settling at 0.0041 SOL (~$0.59).
See more information: 11 Best Solana Meme Coins to Watch in 2024
TREMP/SOL price performance. Source: DEX Tracker
Trump’s decision to host this dinner has attracted widespread attention, especially after a legal deposition on Tuesday. Trump himself counted reporters, he wanted to campaign rather than be tied up in a courtroom. However, it appears that the announcement of the dinner was not publicized and was distributed to some guests.
In a broader context, Trump’s positive stance on cryptocurrency suggests that his potential presidency could promote a more favorable regulatory climate for cryptocurrencies in the US. Market analysts speculate This could invite more global investment in digital currencies, possibly increasing their value and prominence.
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