Donald Trump is once again trying to rally the cryptocurrency community to support his campaign over President Joe Biden’s in the leadup to the 2024 election.
This time, he’s calling himself “the crypto president” if he wins on Nov. 5.
Trump made the remark during a fundraiser in the upscale Pacific Heights neighborhood at the home of Tech venture capitalists David Sacks and Chamath Palihapitiya.
The event attracted a diverse array of prominent guests, including executives from crypto exchange Coinbase, the Winklevoss twins, and other leaders in the cryptocurrency field.
Trump’s message may have struck a chord with influential tech industry figures, who are increasingly seeking to wield influence over U.S. policymakers in response to heightened regulatory scrutiny in the Web3 sector.
After all, the twice-impeached and quadruple-indicted candidate raised $12 million for his campaign during the event.
Trump emphasized the importance of Bitcoin (BTC) and other cryptocurrencies, but did not offer specific details on his proposed crypto policy.
The one promise he made: thwart Biden and any regulations on the crypto industry.
It’s worth noting that Biden administration is not entirely anti-crypto. In 2022, it signed an executive order to promote responsible development within digital assets.
This directive prompted calls for regulatory agencies like the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission to provide guidance and establish rules to address risks within the cryptocurrency ecosystem.
The Biden administration also expressed its intention to collaborate with Congress to craft a regulatory framework for cryptocurrencies.
According to reports, White House spokesperson Robyn Patterson insists that the Biden administration is committed to fostering innovation in digital assets while safeguarding consumers from the potential risks associated with emerging technologies.
While San Francisco is known for its liberal politics, local venture capitalists and cryptocurrency investors who are single-issue voters are warming up to Trump, citing concerns over excessive regulation as a key reason for their support.
A Reuters/Ipsos poll taken immediately after Trump’s felony conviction on May 31 showed that one in 10 Republicans are less likely to vote for him after the guilty verdict.