Bitcoin
Donald Trump Campaigns Crypto First, Seeking Donations
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donald trump Trump’s presidential campaign will accept cryptocurrency donations, the first time for a major party candidate.
The ad is part of an effort to build what the campaign calls “cryptography army” before election day.
The Trump campaign has launched a fundraising page that allows “any federally permitted donor the ability to donate” to his political committees using any crypto asset accepted through the Coin base cryptocurrency exchange.
The ad promotes Trump’s message that he is a cryptocurrency-friendly candidate and also appeals to a core group of young male voters who are increasingly likely to get involved in digital assets.
It happened when Trump’s defense rested in his hush money case in New York.
Cryptocurrencies are a digital asset that can be traded over the Internet without relying on the global banking system.
The Trump campaign is accepting a number of popular cryptocurrencies that include Bitcoin, Ether and US Dollar Coin, and also includes low-value coins that tend to be popular with internet personalities like Shiba Inu Coin and Dogecoin.
Billionaire Elon Muskmainly, he is considered a fan of the last two, traded on markets such as DOGE and SHIB.
Independent candidate Robert F. Kennedy Jr.’s presidential campaign currently accepts donations in bitcoin.
Former US President Donald Trump (L) speaks to the press alongside his lawyer Todd Blanche (R) later in the day at his silent criminal trial at New York State Supreme Court in New York (EPA)
It is unclear whether the Trump campaign will hold the crypto or sell it outright, and what kind of fees it might pay to liquidate it. While the campaign says it plans to follow U.S. election laws, the anonymous nature of cryptocurrencies can make it difficult to confirm whether the funds are coming from who they say they are.
Trump has already received millions in cryptocurrencies personally through his Trump Digital Trading Cards non-fungible token projects and his MAGA coin, launched last August.
Julia Krieger, a spokesperson for Coinbase, said that “crypto is nonpartisan and moves money because it is cheaper and faster,” adding that the Coinbase platform is open to all candidates this election season.
A representative of the president Joe BidenThe Associated Press campaign did not respond to a request for comment on whether it will begin accepting cryptocurrency donations.
While some states do not allow cryptocurrency donations in state races under existing campaign finance laws, the Federal Election Commission allows committees to receive bitcoins as contributions.
A 2014 advisory opinion issued by the commission concluded that bitcoin is “money or anything of value” within the meaning of the law and political committees must evaluate the contribution based on the market value of bitcoin at the time the contribution is received.