As a researcher with a background in finance and technology, I find Trump’s recent push for cryptocurrency donations to his campaign an intriguing development. Trump’s recognition of the potential of crypto as a means of raising funds is a significant shift from his previous stance, which was largely dismissive.
As a researcher studying political fundraising trends, I’ve come across an intriguing development: former U.S. President Donald Trump intends to enable cryptocurrency contributions for his campaign donations. This move could potentially expand the avenues for financial support and tap into a growing segment of digital currency users.
Trump serves as the GOP’s nominated contender in the United States presidential election slated for November 2024.
Trump Pushes for Crypto Donations
In several videos shared on the platform X, Frank Degods, who is both a non-fungible token creator and influencer, filmed Trump interacting with the buyers of his “Mugshot Edition” NFT collection during a casual get-together. Trump took time off from his trial to meet these individuals.
As a researcher studying the recent trend in Non-Fungible Tokens (NFTs), I’ve discovered that each attendee of a specific event owned approximately 47 NFTs, with individual prices set at $99 per token. In his speech, Trump boasted, “We made this NFT craze popular again when it wasn’t yet the ‘in thing.’ We ignited its popularity.”
BREAKING: DONALD TRUMP ASKED “CAN WE DONATE USING CRYPTO?”
“IF YOU CANT, I’LL MAKE SURE YOU CAN”
— Frank (33.3%) (@frankdegods) May 9, 2024
With respect to his presidential campaign, Trump stated that he would find a solution for those unable to contribute using cryptocurrency. Trump additionally criticized President Biden’s alleged lack of knowledge regarding cryptocurrencies. Consequently, Trump encouraged supporters who are invested in cryptocurrencies to cast their votes in his favor.
Trump expressed his determination to keep crypto businesses in the US. He underlined his intention to stop these companies from leaving due to unfavorable attitudes towards cryptocurrency. Furthermore, he stressed that if the US were to adopt and support crypto, it should be done within its borders.
The “Jeo Boden” meme currency, which is a lighthearted digital asset inspired by U.S. President Joe Biden, experienced a significant increase of approximately 45%, according to CoinGecko’s latest figures, following a mention of it by former President Trump.
Upon discovering that the BODEN token had reached a market value of $240 million, Trump voiced his doubts. He remarked that such an amount represented a significant sum for a digital coin, and expressed his disapproval towards investing in it.
Trump’s Evolving Support for Crypto
As an analyst, I’ve noticed Electric Capital co-founder Avichal Garg’s appreciation for what he believes is a shift in President Trump’s perspective on cryptocurrency. Garg has praised the individuals advising him on this matter, acknowledging their exceptional work. Additionally, if President Biden continues to adopt an anti-crypto stance, there’s a possibility that sentiment towards crypto could change from being critical of Gary Gensler, the SEC chair, to being critical of Biden and even the Democrats.
Around the end of 2022, Trump obtained his first cryptocurrency tokens through the creation of his Trump Digital Trading Cards non-fungible token (NFT) collection. By utilizing Trump’s identity, likeness, and branding, this initiative managed to sell 45,000 NFTs, each valued at $99.
I’ve discovered that Trump receives royalties from the initial transaction and a percentage of the trading fees on the secondary market for his NFT project. The performance of this particular NFT collection has been quite impressive when compared to the overall NFT market. At present, the minimum bid for these tokens is over $200.
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2024-05-09 11:00