Key Points:
- Trump elected the 47th U.S. President, promising to overhaul the financial system and support cryptocurrency.
- The 47th president of the United States promises to fire the SEC chair, end banking restrictions, and establish an advisory council.
Donald Trump winning the presidency marks a dramatic shift in U.S. policy. At 78, he becomes the oldest elected president and the second to serve non-consecutive terms. His victory polarizes the nation.
Trump Winning Signals Shift in U.S. Financial Policy
Donald Trump has defeated Vice President Kamala Harris in a stunning victory, securing a second term in the White House after a historic election cycle marked by unprecedented events, including two assassination attempts.
Trump first won the presidency in 2016, defeating former Secretary of State Hillary Clinton with his promise to “Make America Great Again.” After losing re-election to Joe Biden in 2020 during the global coronavirus pandemic, Trump reclaimed the White House in 2024 following a nearly two-year campaign. His new slogan: “Make America Great Once Again.”
Donald Trump campaigned for a second term on his first-term record and highlighted the perceived failures of the Biden-Harris administration. The former president pointed to the reversal of some of his key policies as reasons for increased inflation and a worsening U.S. border crisis.
Despite facing a crowded GOP primary field, Trump emerged as the frontrunner once again. He easily defeated his opponents, all of whom eventually endorsed him, and won each primary contest, solidifying his position as the 47th President of the United States.
At 78, Trump becomes the oldest person ever elected as U.S. president, surpassing Biden’s record from 2020. Despite previously stating he would release detailed medical records, he has chosen not to do so.
Trump will also be only the second president in U.S. history to serve two nonconsecutive terms, as per THE HILL. However, due to the 22nd Amendment, he will be ineligible to seek reelection in 2028.
Read more: Trump Poll Reaches 210, Sending Bitcoin to Record $75K
Donald Trump’s Crypto Promises and Regulatory Challenges
Donald J. Trump was elected the 47th president of the United States in a dramatic and divisive election, driven by a fervent base and promises to overhaul the financial system, particularly in cryptocurrency. The victory marks a significant pivot in U.S. policy direction as Trump campaigns on pledges to dismantle restrictions on Bitcoin and digital assets.
In his keynote speech at the 2024 Bitcoin Conference in Nashville, Trump made five concrete promises that resonated with crypto advocates and libertarians alike.
Among these, Trump vowed to immediately fire SEC Chairman Gary Gensler, whom he accuses of stifling innovation. Additionally, he committed to ending Operation Choke Point 2.0, a measure he argues has restricted banking access for crypto companies, driving innovation overseas.
Trump’s proposed Bitcoin Advisory Council reflects his acknowledgement of the digital asset’s growing influence on U.S. economic policy. His vision includes holding federal Bitcoin reserves and establishing a strategic Bitcoin stockpile, steps he suggests will “supercharge” the U.S. economy and safeguard it against inflation.
One of his most controversial promises was to pardon Ross Ulbricht, founder of Silk Road, as a gesture toward justice reform and cryptocurrency freedom. His supporters argue Ulbricht’s sentence was excessively harsh and that his pardon would represent a broader commitment to reevaluating criminal penalties within the tech sector.
For now, Trump’s victory is celebrated by many in the cryptocurrency world, who see him as a champion for digital freedom and economic reform.
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Source: https://coincu.com/290621-trump-winning-historic-47th-president-in-2024