Ethereum
Leak Reveals Crypto Bracing for Huge Biden Swing Ahead of Trump Debate That Could Trigger Bitcoin, Ethereum, and XRP Price Earthquake
Bitcoin
Bitcoin
prepares for earthquake in Washington next week after former President Donald Trump made the shock declaration he will be the “president of crypto”.
The price of bitcoin fell from around $15,000 per bitcoin following the collapse of crypto exchange FTX in late 2022, returning to its peak of $70,000, which helped the price of Ethereum more than double and XRP.
XRP
add nearly 60% as the broader crypto market rebounds
NOW, as tech billionaire Michael Dell sparks wild speculation his IT company could follow Elon Musk’s MicroStrategy and Tesla into bitcoinRumors are circulating that President Joe Biden may talk about crypto policy during his first presidential debate with Trump on Thursday, June 27.
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Former US President Donald Trump has embraced bitcoin and crypto in recent months while… [+] President Joe Biden has taken an anti-crypto stance that some say could weigh on the price of Bitcoin, Ethereum, XRP and other major cryptocurrencies.
AFP via Getty Images
“The upcoming US presidential debate between Joe Biden and Donald Trump, with its new format and stricter rules to ensure a more structured discussion, is unlikely to have a significant impact on the price of bitcoin but could have an impact on the broader cryptocurrency market,” Bitfinex analysts wrote. in comments sent by email.
“Both Biden and Trump have well-documented positions on cryptocurrencies and financial regulation. The market has already priced in their positions, so any reiteration of these views during the debate is unlikely to introduce a new volatility Although debate may touch on regulatory frameworks that could impact cryptocurrencies, the details of these regulations generally emerge from detailed policy announcements and legislative processes rather than debates.
Trump has weighed in on bitcoin and crypto in recent weeks after making millions from a series of crypto-based digital trading card non-fungible tokens (NFTs) and putting him in stark contradiction to the position anti-crypto from the Biden administration. Trump declared his support for crypto in late May and began accepting campaign donations in Bitcoin, Ethereum, Solana, Dogecoin and Shiba Inu.
Earlier this month, it was reported that the Biden campaign was holding discussions about accepting bitcoin and cryptocurrency donations through Coinbase, according to The Block, quoting anonymous sources.
Last week, an email leak from California Congressman Ro Khanna’s office to Bitcoin Magazine revealed that officials from the Biden administration, House and Senate, along with Shark Tank billionaire Mark Cuban, are expected to gather in early July for “the most important between policy makers and blockchain innovation leaders. nowadays.”
Cuban, a fervent supporter of President Joe Biden, warned that Trump could win the 2024 election due to Biden’s opposition to crypto.
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The price of Bitcoin has skyrocketed over the past few months, reaching its all-time high… [+] of around $70,000 per bitcoin.
Forbes Digital Assets
Another Trump critic and Biden supporter, Anthony Scaramucci, managing partner of hedge fund SkyBridge Capital who served briefly as Trump’s communications director in 2017, said Biden’s opposition to crypto would not continue for a second mandate.
“I’ve talked to a lot of people about the Biden campaign, people like [Coinbase investor and venture capitalist] Ron Conway… [who] will take a softer approach to crypto,” Anthony Scaramucci, former Trump communications director and managing partner of hedge fund SkyBridge Capital, said Laura Shin on her podcast Unchained.
“I also think that the anti-crypto nonsense that is actually sponsored by Senator Elizabeth Warren and [Securities and Exchange Commission chair] Gary Gensler is behind us,” Scaramucci said, adding that the crypto industry “has already won.”