Donald Trump courts cryptocurrency crowd for US presidency

Former US President Donald Trump has affirmed his support for the cryptocurrency industry, expressing his strong commitment to its growth.

On May 25, the former president made several pro-crypto statements ahead of the November election.

Donald Trump's latest commitments to the crypto industry

Donald Trump has strongly supported the cryptocurrency industry, emphasizing that the United States should strive to become a global leader in this growing sector.

“I am very positive and open-minded towards cryptocurrency companies and everything related to this new and thriving industry. Our country should be a leader in this field.” He stated Asset.

He also compared his position to that of President Joe Biden, whom he accused of wanting to stifle the crypto industry. “That will never happen to me,” Trump said. Later, at the Libertarian Party National Convention in Washington, Trump told attendees he would protect their right to self-custody of crypto assets and prevent the creation of… Central Bank Digital Currency (CBDC).

“I will support the right to self-custody. To the fifty million cryptocurrency holders in the country, I say this: I will keep Elizabeth Warren and her bullshit out of your Bitcoin, and I will never allow the creation of a digital central bank. currency," he added Asset.

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Interestingly, the former president also pledged to pardon Ross Ulbricht if he were re-elected. In 2015, a court sentenced Ulbricht to two consecutive life sentences and 40 years in prison for creating and operating Silk Road, a darknet marketplace used primarily for drug transactions. However, many in the crypto community say Ulbricht's conviction represents government overreach.

"If you vote for me, on day one, I will commute Ross Ulbricht's sentence to prison. He has already served 11 years in prison and we will bring him home," Trump promised.

At the same time, it seems that the position Asset Cryptocurrency supporter improves his electoral prospects. According to Polymarket, a popular crypto-based prediction platform, Donald Trump has a 56% chance of winning the election, compared to Biden's 38%.

Trump's chances have increased significantly in recent months following a series of pro-crypto actions and statements. Notably, his campaign began accepting crypto donations in various digital assets, including Bitcoin, making him the first major candidate to do so.

Learn more: How to donate cryptocurrencies using Giving Block

In response, the Biden administration has significantly changed its approach to cryptocurrencies. The White House has expressed interest in working with Congress on effective regulation of cryptocurrencies. Additionally, the crypto-skeptic Securities and Exchange Commission (SEC) approved an Ethereum ETF, marking a major policy shift.