Trump Vows Cryptocurrency Support, Accepts Crypto for 2024 Presidential Campaign

• Donald Trump has shown, in more ways than one, his enthusiasm for cryptocurrency.
• Trump promised that the new administration’s support for crypto will be industry-wide.

The former US president and Republican candidate for president this year, Donald Trump, has once again shown his support for cryptocurrency.

His ambitions to back crypto startups were disclosed in a post the former president made on Truth Social, his social media platform. For some time now, people have seen that the nation’s creative digital currency ecosystem enterprises are fleeing the country due to concerns over excessive regulatory policies.

Industry-wide Support

Trump promised that the incoming administration’s support for the cryptocurrency business will be industry-wide in a tweet posted by Ryan Selkis, founder of Messari. Some think that Donald Trump’s description of the new environment as a “new and burgeoning industry” reveals an accurate grasp of the field.

Donald Trump has shown, in more ways than one, his enthusiasm for cryptocurrency during the campaign. In addition to publicly endorsing the new asset class, he has begun accepting Bitcoin and other cryptocurrencies as campaign contributions.

Along these lines, Donald Trump has introduced a number of Non-Fungible Tokens (NFTs), the majority of which he has already sold while pocketing the proceeds in cryptocurrency. President Joe Biden has naturally lost favor among crypto-native Americans due to developments in the digital currency ecosystem.

It was during his time in office that the SEC brought its landmark case against Ripple Labs Inc. At this point in the litigation process, the regulator is seeking $2 billion in damages, and the case is still continuing. This is in addition to the SEC’s litigation against Kraken, Binance, and Coinbase, which claim the tokens they support are securities.

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