jakiro
Author: Mia, ChainCatcher
At 18:11 ET, the popular election figure former U.S. President Trump was attacked at the Pennsylvania presidential election campaign event at 18:11 ET. As several gunshots fell, Trump’s call for winning the election reachedAn unprecedented height.
As the suspense of the US election gradually became clear, the assassination also became a catalyst for market trends. Cryptocurrencies immediately rebounded, quickly breaking through $60,000 and once rushed to $65,000.
Two days after being nearly assassinated, Trump announced on his social media platform Truth Social that Republican Ohio Senator JD Vance was selected as his vice president.Vance has been a long-time backer of crypto technology and has publicly disclosed that it has more than $200,000 in crypto assets.He appreciates the freedom that cryptocurrencies offer through their censorship-resistant properties.The nomination for Vance undoubtedly strengthens Trump’s camp’s belief in cryptocurrency.
During Trump’s previous presidency, he appointed many multi-cryptocurrency friendly officials, which may be one of the reasons why crypto assets collectively rose when Trump’s election situation is improving.
Several crypto-friendly people have worked in the Trump administration
Vice President J.D. Vance of Trump’s 2024 election, is a cryptocurrency supporter who, in addition to owning crypto assets, publicly criticized the US SEC for overregulation of cryptocurrencies.
J.D. Vance once voted in the Senate to repeal the SAB-121 accounting standards that are extremely resistant to the cryptocurrency industry and plans to propose a more friendly cryptocurrency regulation bill.
During his previous presidency, Trump appointed several crypto-friendly people to key positions.
On July 21, 2017, Anthony Scaramucci, founder of Skybridge Capital, was appointed as Trump’s White House Communications Director.Sky Bridge Capital is a hedge fund company that manages $3.5 billion in assets, nearly half of which are related to crypto assets, and its founder Anthony Scaramucci is also a staunch supporter and advocate of Bitcoin.
On December 15, 2018, Trump appointed Bitcoin supporter Mick Mulvaney as White House chief of staff.Mick Mulvaney is a cryptocurrency supporter and advocate who, when he worked in the House, was one of the people who worked to create the blockchain caucus (the blockchain caucus is writing and creating new laws for emerging technologies such as cryptocurrencies.and helped draft two new legislation bills that support the development and evolution of the blockchain industry—House Resolution 1108, and House Resolution 7002.
In April 2020, Trump appointed billionaire and blockchain supporter Mark Cuban as consultant.Mark Cuba, who has always been known as a Bitcoin tycoon for his bold advocacy for cryptocurrency investment, compared the cryptocurrency landscape with explosive growth during the 1990s Internet boom, highlighting its potential for huge returns.
On June 4, 2020, Trump nominated the U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce for second term, and she also won the “crypto mom” for supporting digital assets (and criticizing over-regulation of crypto assets)nickname.
The presidential family who likes to post NFTs
The Trump family also likes to issue crypto assets.
Former First Lady Melania is the first person in the Trump family to actively embrace cryptocurrencies.Melania launched her first NFT “Head of State” collection through her website in late 2021, at 1 Sol, which was released on Solana at about $185.
When interviewed by Fox and Melania’s NFT, Trump said: “She will do well and she has a lot of imagination.”
After leaving the White House, Trump has always been good at using his name to make profits for his brand, and the crypto market, which is susceptible to personal influence, has become the best stage.
Under his wife’s demonstration, Trump began to embrace the NFT.In December 2022, it announced the release of the limited edition Trump digital transaction card NFT on truth social, which was minted on Polygon for $99 and sold out after its release. According to OpenSea data, a total of 45,000The transaction volume of NFT exceeded 648 ETH, equivalent to about 785,000 US dollars, and its floor price once reached 0.84 ETH.
Since then, the road to the release of the Trump series NFTs has become unstoppable, and it has successively launched the second series of “Win Trump Prizes”, Trump Digital Trading Cards” and “Mugshot Edition”, and empowered NFT rights, including with TrumpThe rights and interests of Mr. Trump have dinner, video calls, golf, etc., according to relevant documents, Trump earned $2.8 million through NFT sales.
Faced with the American society led by Gen Z youth, the cryptocurrency population has become an important influence force.
According to Coinbase data, in 2023, 52 million Americans own cryptocurrency, accounting for 20% of the U.S. adult population.Under this general trend, in order to maximize political goals and business interests, and to win votes, Trump became a “sudden crypto supporter.”
In his campaign speech, Trump said that if he becomes the president of the United States again, he will never allow the creation of a central bank digital currency (CBDC), which he believes will give the government absolute control over the funds, and on May 9, officially accepted it.The US presidential campaign donation in the form of cryptocurrency has also won a lot of support for Trump and gained a firm foothold in the election.
Absolute crypto people
Before leaving office in 2021, Trump pardoned Ripple board member Ken Kurson.
According to the New York Times, Trump took a private jet provided by scrap metal recycling giants and cryptocurrency miners to meet his supporters in late 2021.
This time, in order to attract many young American votes, Trump promised in May this year that if he wins the election, he will pardon Ross Ulbricht, founder of Silk Road, and emphasized the right to support self-custody.It undoubtedly aroused widespread consensus among the crypto community, after all, Ross was once a martyr in the eyes of many cryptocurrency enthusiasts and libertarians.
In addition, Trump’s recent public statements on the crypto field have also won the support of the US crypto industry.
Kraken Jesse Powell once posted a statement saying that he donated $1 million to Trump in his personal capacity, mainly ETH.
Bitcoin Magazine CEO David Bailey publicly stated that he plans to raise $15 million later this month for former U.S. President Donald Trump’s re-election campaign.
Musk, the “father of Dogecoin”, publicly expressed his support for Trump for the first time, and promised to donate about $45 million to a new super political action committee every month to support Trump’s presidential campaign.
According to Federal Election Commission records, two Gemini co-founders Tyler and Cameron Winklevoss donated $250,000 to Trump Super PAC respectively.
Meanwhile, according to public data, Trump Super PAC, previously supported by Palantir’s Joe Lonsdale and cryptocurrency billionaires Cameron Winklevoss and Tyler Winklevoss, has raised $8.8 million in the second quarter of this year.
Crypto attitudes may be political
Some crypto people who are well versed in American politics do not buy it about Trump’s active crypto remarks recently.
Arthur Hayes, in his recent blog post, Hot Chick, criticized Trump for “suddenly caring about cryptocurrencies”, saying that “pleasing young, politically active and upstart cryptocurrency groups” was just Trump’s election winOne means, in addition, he predicts that once Trump takes office, his so-called support and concern for cryptocurrencies “will all become distant memories.”
Questions from the crypto community are not limited to this.
As early as Trump’s NFT dinner in May this year, Trump was pointed out that he was not really proficient in cryptocurrency policies.In the past hour, Trump’s speech only focused on cryptocurrencies, and his understanding of crypto policies is also sporadic and unworthy of consideration. When asked how he would change the policy of expelling the crypto industry abroad., he said: “We will stop it because I don’t want that. I hope if we are going to embrace it, then we have to keep them here”, and such an answer obviously does not give specific policy directions and measures.
Regarding Trump’s sudden turn in crypto attitudes, some veterans and observers in the crypto community also pointed out that Trump’s attitude towards cryptocurrencies in the past was not friendly, and even publicly claimed that Bitcoin was a scam and called for increased regulation.Now that his position has made a 180-degree turn, it is hard not to doubt the motivation behind it.As Arthur Hayes and others criticized, Trump’s active crypto rhetoric may be just a temporary political show, and it remains an unknown whether he will actually deliver on his promises and bring substantial benefits to the cryptocurrency industry once elected..
Despite the shooting, Trump said he would still give a speech at the 2024 Bitcoin Conference as scheduled. Whether the speech will bring deeper crypto insights and future policies will be seen.
