Trump fights for the crypto vote at Bitcoin conference

At the Bitcoin 2024 conference in Nashville, Tennessee, former President Donald Trump delivered a keynote speech. Trump, the Republican presidential… Continue reading Trump fights for the crypto vote at Bitcoin conference

The post Trump fights for the crypto vote at Bitcoin conference appeared first on ReadWrite.

At the Bitcoin 2024 conference in Nashville, Tennessee, former President Donald Trump delivered a keynote speech.

Trump, the Republican presidential candidate, used the platform to appeal to the tech community and solicit campaign donations. During the conference, he said:

I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’s anti-crypto crusade will be over … If we don’t embrace crypto and Bitcoin technology, China will, other countries will. They’ll dominate, and we cannot let China dominate. They are making too much progress as it is.

Trump’s address focused heavily on cryptocurrency policy, positioning it as a partisan issue. He claimed that if re-elected, he would dismiss SEC Chairman Gary Gensler on his first day in office, a statement that drew enthusiastic cheers from the audience. This declaration marks a stark contrast to Gensler’s tenure, which has been characterized by stringent oversight of the crypto industry.

The former president outlined several pro-crypto initiatives he would pursue if elected. These included making the US the global cryptocurrency hub, retaining all government-held Bitcoin as a “national Bitcoin stockpile,” establishing a presidential advisory council on Bitcoin and cryptocurrency, and developing power plants to support crypto mining, emphasizing the use of fossil fuels.

Trump’s current embrace of cryptocurrency represents a reversal from his 2021 stance, when he described Bitcoin as a “scam against the dollar.” He also highlighted that his campaign has received $25 million in donations since accepting cryptocurrency payments two months ago.

The event featured appearances by other political figures, including Republican Senators Tim Scott and Tommy Tuberville, as well as Democratic Representatives Wiley Nickel and Ro Khanna. Independent presidential candidate Robert F. Kennedy Jr. also spoke at the conference.

Trump’s appearance at Bitcoin 2024 reflects growing support for his campaign among some tech leaders, including Tesla CEO Elon Musk and crypto entrepreneurs Cameron and Tyler Winklevoss.

While Trump portrayed the current administration as “anti-crypto,” Democratic congressman Wiley Nickel asserted that Vice President Kamala Harris is taking a “forward-looking approach to digital assets and blockchain technology.”

This event underscores the increasing political significance of cryptocurrency policy in the upcoming presidential election.

Kamala Harris and Democrats respond on crypto

In a strategic move to repair strained relationships, Vice President Kamala Harris’s team has initiated dialogue with major players in the cryptocurrency sector. This outreach aims to reset the Democratic Party’s stance on digital assets and foster a more collaborative approach.

The Financial Times reports that Harris’s advisers have contacted representatives from industry leaders such as Coinbase, Circle, and Ripple Labs. This initiative comes as the crypto community increasingly backs Republican candidate Donald Trump, reflecting growing dissatisfaction with the current administration’s crypto policies.

The outreach follows a letter from Democratic lawmakers and 2024 candidates urging the party to reassess its approach to digital assets. Harris’s team emphasizes that this effort is not primarily about securing campaign contributions, but rather about establishing a constructive dialogue to develop sensible regulations.

This move is part of a broader strategy to reshape the Democratic Party’s image among business leaders, countering perceptions of an anti-business stance. The Harris campaign aims to project a “pro-business, responsible business” message.

The post Trump fights for the crypto vote at Bitcoin conference appeared first on ReadWrite.