The Trump campaign is gearing up to rally supporters to challenge the anti-crypto stances of President Biden and Elizabeth Warren.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Donald Trump, the former president of the United States, has officially begun accepting Bitcoin (BTC), Ethereum (ETH), and other crypto assets available on Coinbase Commerce for campaign donations as he runs for a return to the White House.
In an official press release, the Trump campaign announced that this move is part of the party’s commitment to supporting the crypto industry if Trump is re-elected in the upcoming presidential election in November.
The former US president had hinted at this possibility during a Trump Cards NFT Gala event at his Mar-a-Lago resort in Palm Beach, Florida. When supporters at the event asked if they could donate crypto to support his presidential campaign, Trump responded affirmatively, promising to make it happen.
Trump has now fulfilled his promise, allowing supporters to contribute to his campaign using any of the virtual assets listed on Coinbase Commerce, the digital payment service offered by the American exchange.
The Trump campaign will now have the opportunity to raise more funds as this move has opened up a fresh source of potential contributions.
According to the announcement, crypto donations will be categorized as in-kind contributions, similar to how donations of stocks are handled. This gives the campaign the flexibility to either sell the donated cryptocurrencies for cash or retain them as digital assets.
The campaign also emphasized that donations involving digital assets will comply with Federal Election Commission (FEC) regulations, which means there will be specific limits on how much can be donated and requirements for reporting these donations.
The campaign sees the acceptance of cryptocurrencies for donations as part of Trump’s effort to reduce government control over American financial decision-making.
“Today’s announcement reflects President Trump’s commitment to an agenda that values freedom over socialist government control,” the Trump campaign said.
The Trump campaign is gearing up to rally supporters to challenge the anti-crypto stances of President Biden and Elizabeth Warren. In one of Warren’s campaign advertisements on social media, she disclosed that she is forming an “anti-crypto army” to combat the rise of cryptocurrencies in the US.
The senator is known for being a strong critic of the industry and has, on many occasions, called for tighter regulations on crypto. In response, the Trump campaign wants to raise an army to fight both Biden and Warren.
“Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an ‘anti-crypto army’ to restrict Americans’ right to make their own financial choices. MAGA supporters, now with a new cryptocurrency option, will build a crypto army to drive the campaign to victory on November 5th,” the Trump campaign said.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
