Donald Trump vows to be crypto president in a bid to rally support

The Biden administration’s sluggishness on crypto and other controversial matters have proven an opportunity for the former POTUS to capitalize on fresh voters

Donald Trump, the former US President, and Joe Biden, the incumbent, are in a neck-and-neck race to woo crypto industry insiders. Whereas Trump has a trove of not-yet-put-to-a-test promises to make about a crypto revolution under his vigilant watch, President Biden has mostly a patchy track record of half-snubbing, half-ignoring, half-obstructing the crypto industry.

This is precisely what Trumps’ campaign office hopes will move the needle in his favor. After securing $12 million from Chamath Palihapitiya and David Sacks at a recent get-together with donors, Trump swore himself to a future in which crypto would play a greater role in his administration’s decision making, building on his former promise to pardon a criminal who has become a symbol for the libertarian cause in the United States as a scapegoat for mainstream politics.

Biden’s bad rap has mostly to do with the US Securities and Exchange Commission repeatedly lashing out against companies from the sector, from Binance to Ripple Labs, and Ethereum. Although the President would not be within his rights to steer the regulator per se, he is mostly seen as an antagonizing figure and worse of all – unapproachable or at least uninvolved on matters that concern crypto.

Trump, on the other hand, with his buoyancy and tendency to promise things all over the place, has been singled out as a candidate that industry insiders can work with. This embrace puts fresh challenge to Biden’s reelection bid, as the incumbent feels hemmed in from every side.

Trump’s conviction – or anticipated conviction at the very least – is not adding enough momentum to Biden’s cause. The crypto lot are a powerful lobby in the United States, and although many of them pronounce themselves liberals, they have grown fed up with the Democrats’ reluctance to paly nice.

This, not Trump’s rallying cry to the crypto industry, is the most likely reason why Biden may not sway enough voters from this particular background. Biden’s speech has become surprisingly reflective of what has been a popular trope on social media, not least by the likes of Elon Musk with whom Trump is chumming up once again after a détente in their relationship.

“Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an ‘anti-crypto army’ to restrict Americans’ right to make their own financial choices,” Trump echoed, galvanizing support around less politically minded individuals who are determined to see crypto become better represented in the mainstream, while preserving their aloofness from the onerous checks that the mainstream financial checks goes hand-in-hand with.

In the meantime, Polymarket has reported an increase in player confidence in President Trump's reelection chance. If this sounds like a tangential, just remember that Polymarket actually guessed correctly that Donald Trump would be convicted.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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