Former US President Donald Trump has announced that his presidential campaign will now accept cryptocurrency donations. Trump made the announcement during a special event for holders of his âMugshot Editionâ non-fungible tokens (NFTs) at his Mar-a-Lago residence in Florida.
Trumpâs move highlights his ongoing engagement with cutting-edge technology and digital assets. In a broader context, this also marks a significant shift in political fundraising strategies and aligns with growing digital trends.
From NFTs to Crypto: Trumpâs Digital Campaign Trail
The revelation came through a short video released by Frank DeGods, co-founder of the DeGods and y00ts projects. In the video, Trump confidently responds to a question about crypto donations.
SponsoredâIf you canât, Iâll make sure you can. Can we donate to the Trump campaign using crypto? I believe the answer is yes,â Trump answered.
Read more: How To Donate Crypto Using The Giving Block
Although this bold declaration has spread across various social media platforms, especially X (formerly Twitter), it still awaits more details from Trumpâs campaign staff.
Continuing his dialogue on the subject, Trump addressed concerns about the US regulatory environment. Some believe this environment is driving crypto entrepreneurs offshore.
When Malcolm, Chief of Staff at De Labs (DeGods and y00ts parent company), questioned how he plans to handle the exodus of American crypto players, Trump labeled the current regulatory measures as âhostility.â He also promised a more welcoming approach.
âWeâll stop it because I donât want that. If weâre going to embrace it, we have to let them [crypto industry players] be here,â Trump asserted.
Post-announcement, meme coins linked to political figures experienced a surge in their market value. These include Doland Tremp (TREMP) and Jeo Boden (BODEN). TREMP notably rose from 0.0017 Solana (SOL) to 0.0047 SOL (approximately from $0.24 to $0.67) before settling at 0.0041 SOL (~$0.59).
Read more: 11 Best Solana Meme Coins to Watch in 2024
Trumpâs move to host this dinner garnered attention from many, particularly after a legal testimony on Tuesday. Trump even told reporters he wanted to campaign instead of being tied up in a courtroom. However, it seems that the dinner announcement was not made public and was circulated to certain invitees.
In a broader context, Trumpâs positive stance on cryptocurrency suggests his potential presidency could foster a more favorable regulatory climate for cryptocurrencies in the US. Market analysts speculate this could invite more global investment in digital currencies, possibly enhancing their value and prominence.
