- Trump is assembling a “crypto army,” asking his supporters to defend MAGA.
- BTC, ETH, SHIB, DOGE, and five other top cryptos are now allowed for donations.
- Biden declares that “crypto executives are coming out of the woodwork” for Trump.
Donald Trump has shocked the cryptosphere by launching a crypto donation portal for his presidential campaign. Even though Trump previously claimed that Bitcoin (BTC) is an enemy of the United States Dollar (USD), these skeptical statements during his presidency didn’t stop the Republican candidate from accepting crypto for the upcoming election.
Crypto Donations to Make America Great Again?
While Donald’s stance towards cryptocurrency gradually shifted from anti-crypto to becoming a cryptocurrency whale, Trump’s official presidential campaign website now reads: “As Biden piles regulations and red tape on all of us, President Trump stands ready to embrace new technologies that will Make America Great Again.”
As Trump leverages blockchain technology for fundraising, the decision opens the door for eight different cryptocurrencies to be used in political finances. In addition to the two largest crypto assets, BTC and Ethereum (ETH), Trump’s fundraising campaign now supports the two most popular canine meme coins, Shiba Inu (SHIB) and Dogecoin (DOGE).
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Crypto aficionados can also contribute with Ripple (XRP), USD Coin (USDC), and 1inch (1INCH). At the time of publication, it’s unknown how many crypto donations Trump received on the first day since enabling cryptocurrency payment support.
Clash of the Presidents Enters Crypto Dimension
Meanwhile, President Joe Biden expressed concern at Trump’s digital currency fundraising campaign, declaring that “this couldn’t be any more serious.” Biden added that “cryptocurrency executives and oil barons are coming out of the woodwork for Trump,” mostly referring to Trump’s gala events at Mar-a-Lago, reportedly bringing in a total revenue of $76 million in April.
Following the news, SHIB and DOGE plummeted by 4% in today’s market correction. This comes just a day after Bloomberg’s top financial analysts upped the odds for an Ether ETH approval by the American Securities and Exchange Commission (SEC), due tomorrow.
On the Flipside
- Donald Trump’s supporters have reported technical difficulties when donating Bitcoin (BTC) via Coinbase’s payment gateway.
Why This Matters
Digital assets entering the political arena bolster blockchain’s adoption and open doors for clearer regulation.
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