- Trump’s campaign now takes crypto donations to oppose “socialistic government control” of US finances.
- The former president claims to be the first major party nominee to use crypto for fundraising, calling it a “groundbreaking digital operation”.
- Donations accepted via Coinbase Commerce, supporting major cryptocurrencies like Bitcoin and Ethereum.
The campaign to bring Donald Trump back into the White House has announced it will now accept crypto donations. The move comes in an effort to oppose “socialistic government control” when it comes to the US financial markets.
Trump claims he is the first major party nominee to accept crypto for campaign donations, in what a press release called a “groundbreaking digital fundraising operation”.
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The campaign will accept donations in any crypto which is supported by the “Coinbase Commerce product”.
On the campaign website, major cryptos such as Bitcoin, Ethereum, Solana, and XRP are prominently displayed.
Interestingly, Trump has long been a strong opponent of crypto, calling it a scam on several occasions, saying he is “not a fan of Bitcoin and other Cryptocurrencies, which are not money”.
In 2019 he said that crypto, including Bitcoin, was based on “thin air” and used for “unlawful behaviour, including drug trade”.
Only recently did he seem to change his opinion, now accepting that “many people are embracing [Bitcoin]”. He added that people are now wanting to pay with it and he was also seeing interesting use cases, stating “so I could live with it”.
While Trump hasn’t revealed any specific crypto-related policy, this development comes after he declared himself the candidate for crypto during an event at his Florida Mar-a-Lago mansion.
The campaign said during Trump’s presidency he “reduced regulations and championed innovation in financial technology”, lashing out at Joe Biden and his “surrogate” Senator Elizabeth Warren for overuse of government control.
Finally, the campaign said it is building a “crypto army” in response to Warren’s “anti-crypto army”.
Crypto to Provide Much Needed Financial Boost to Campaign
Trump’s move opens new avenues for funding his campaign, following his earlier ventures of selling NFTs and releasing a bible. The Trump campaign still trails behind Biden in terms of financial support.
Trump is also not the first candidate to accept crypto donations. Republican Senator Rand Paul accepted Bitcoin donations in 2015 and Robert F. Kennedy Jr. announced back in May 2023 that he would be accepting donations in Bitcoin.
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