Bitcoin
Trump Campaign Opens Crypto Donation Portal
Top line
Former President Donald Trump began accepting cryptocurrency donations on Tuesday, his campaign announced, continuing Trump’s embrace of the digital currency after expressing skepticism about the industry during his time as president.
Republican presidential candidate former President Donald Trump speaks to guests at the annual… [+] Lincoln Reagan Dinner hosted by the Minnesota Republican Party on May 17, 2024 in St. (Photo by Scott Olson/Getty Images)
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Key facts
The Trump campaign has launched a website where donors can make contributions to its joint fundraising committees via Coinbase, announcing the new portal in a statement declaring that he is the first “major party presidential candidate” to accept digital currency.
Trump announced in May that he would accept cryptocurrency donations and warmed to the industry afterwards saying during his presidency he was “not a fan of Bitcoin and other cryptocurrencies.”
The launch comes as Trump appears to be making gains from President Joe Biden’s fundraising lead — his campaign and the Republican National Committee reported Monday that they raised $76 million in April, about $10 million more than the March fundraising total and about $25 million more than the $51 million. million Biden and the Democratic National Committee reported fundraising last month, down from more than $90 million in March.
The Federal Election Commission disconnected on political action committees that accepted cryptocurrencies as donations in 2014, ruling that they fell under a provision of the Federal Election Campaign Act that defines contributions as “anything of value made by any person for the purpose of influencing any election for office federal”.
Main fund
Trump has invested in crypto both politically and personally since his time in the White House. His $7 billion net worth is made up of about $3 million worth of cryptocurrencies, according to Forbes Estimatesand he released a set of NFT “Trading Cards” in December 2022. In recent months, he has courted the industry, hosting a dinner for crypto supporters at Mar-A-Lago earlier this month, where he warned that they “better vote” for him or face more regulation from the Biden administration, Reported politician.
What to watch out for
The House is expected to vote this week on legislation that would shift a significant portion of digital currency regulatory oversight from the Securities and Exchange Commission to the more industry-friendly Commodity Futures Trading Commission. Similar rollbacks to Biden’s SEC regulations on digital assets passed Congress last week, although Biden pledged to veto the bill. The White House also said it “opposes” the broader House legislation that will be voted on this week, according to a statement released Wednesday that said the legislation “in its current form lacks sufficient protections for consumers and investors who engage in certain digital asset transactions.” .” The statement did not say whether Biden would veto the legislation.