Trump’s recent pro-crypto actions reflect a strategic campaign to court digital asset enthusiasts.
Donald Trump, the former president and presumptive Republican nominee, has publicly reinforced his support for crypto businesses in the US and the broader industry. According to him, there is no acceptable position for the nation other than being the leader in the crypto sector.
“I am very positive and [open-minded] to cryptocurrency companies and all things related to this new and burgeoning industry,” Trump wrote on his social platform Truth Details. “Our country must be the leader in the field, there is no second place.”
Trump’s remarks were made shortly before his scheduled address at the Libertarian National Convention in Washington, D.C. His comments come as both political parties aim to attract pro-crypto voters ahead of the presidential election.
In addition to showing support for crypto, Trump criticized President Joe Biden, accusing him of wanting the industry to fail. He suggested that under his leadership, the crypto industry would flourish, while he believed it would suffer under Biden’s policies.
“Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow an painful death. That will never happen with me,” Trump asserted.
His engagement with crypto has been growing; the presidential candidate recently announced that he started accepting crypto donations for his campaign, a first for a major US presidential candidate.
As Trump has taken action, the Biden administration has also softened its stance toward crypto. Following the House’s approval of the crypto market structure bill FIT21, the White House expressed opposition but stopped short of threatening a veto.
The US Securities and Exchange Commission’s (SEC) recent approval of spot Ethereum ETFs also marks a positive development in the US regulatory approach to crypto. Analysts suggest that politics could be among the key factors influencing the SEC’s decision.