July 18, 2024
1 Solar System Way, Planet Earth, USA

Trump positions himself as the "Crypto President" at the San Francisco fundraiser

President Donald Trump again showed his support for the Bitcoin and cryptocurrency industry at a high-profile fundraising event in San Francisco on Thursday.

Hosted by tech venture capitalists David Sacks and Chamath Palihapitiya at Sacks' home in Pacific Heights, the event raised $12 million for the Trump campaign, according to three sources present. said Reuters. The event was attended by Coinbase executives, the Winklevoss twins, and other industry leaders.

Trevor Traina, a San Francisco-based technology executive and former US ambassador to Austria during the Trump administration, told Reuters: “He said he would be the crypto president.”

Trump's strong pro-cryptocurrency stance was further emphasized during the event, touting cryptocurrencies as important and emphasizing that he was very supportive of the sector, Republican National Committee member Harmeet Dhillon told Reuters. However, Trump did not provide details about his crypto policy proposal.

Despite San Francisco's liberal reputation, Trump's fundraiser garnered support from several high-profile local venture capitalists and crypto investors, who cited overregulation as a primary concern. Jacob Helberg, an advisor at Palantir, noted: β€œPresident Trump made it clear that the Biden-Gensler crusade against cryptocurrencies will stop one hour into a second Trump administration.”

Last week, Donald Trump historically became the first US president to accept donations from the Bitcoin Lightning Network, following comments he recently made saying he wants the future of cryptocurrencies to be in the United States and not abroad due to strict regulations.

As the 2024 presidential election approaches, Trump's stance on Bitcoin and cryptocurrencies is playing an important role in gaining the support of more than 50 million cryptocurrency owners and enthusiasts in the United States, while his opposition , Joe Biden, has taken a firm posture about the industry.

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