Trump Wants to Change the Rules of the Game as a Crypto Champion: How Does He Plan to Do It?
Donald Trump is receiving increasing support from big names in the crypto world. This raises questions about the future of digital assets in the United States. What does this development mean for the crypto market and possible regulations?
Unexpected support from the tech industry
Cathie Wood, the well-known CEO of Ark Invest, has recently announced that she supports Trump in the upcoming presidential elections. As an influential voice in the tech industry, Wood emphasizes choosing a candidate who is good for the economy. Her support is seen as an important signal for the crypto sector.
Winklevoss twins aim high
The founders of crypto exchange Gemini, Cameron and Tyler Winklevoss, go one step further. They have each a million dollarsr in Bitcoin promised to Trump’s campaign. Their argument? Trump is “pro-Bitcoin” and “pro-crypto”, in contrast to current President Biden, who they say is working against the crypto sector.
Trump’s new attitude towards crypto
Trump himself also seems to have changed his mind about cryptocurrencies. While he was previously critical, his 2024 campaign now accepts crypto donations. This is seen as a sign that he is more open towards digital assets.
Possible changes in regulations
If Trump becomes president again, this could have major consequences for US crypto regulations. Experts believe that a Trump administration could give more room to innovation in the crypto sector. This could lead to clearer rules that support industry growth.
Broader perspective
Yet it is important not to just look at the elections. Jason Allegrante of Fireblocks emphasizes that blockchain technology is above political parties. The influence of the elections on crypto must be seen in a broader context.
What does this mean for the crypto market?
A crypto-friendly stance from the US government could accelerate the adoption of cryptocurrencies. This, in turn, could boost growth for the entire sector. However, caution is advised: election promises are rarely fulfilled.
