Donald Trump Wants to Make the US the "Crypto Capital of the World"
Donald Trump has announced his ambition to make the US the center of the cryptocurrency sector if he wins the election for the "hot seat" of the White House.
On the evening of August 29, 2024, former President Donald Trump took to X (former Twitter) to announce that he was about to unveil a plan to position the US as the leading country in cryptocurrencies, ensuring that the US would be the "Crypto Capital of the Planet".
At the end of the post, the Republican presidential candidate also mentioned World Liberty Financial, a DeFi project that his two sons have been promoting recently, also known as The DeFiant Ones, and added the hashtag "BeDefiant".
"This afternoon, I will be announcing a plan to ensure that the United States becomes the crypto capital of the planet" - Trump declared in the post, ending with the appearance of the World Liberty Financial logo.
The former President even pinned this post to the top of his X page with 90 million followers.
.@worldlibertyfi pic.twitter.com/mwhVIzPJyq— Donald J. Trump (@realDonaldTrump) August 29, 2024
In fact, Donald Trump's ambition to make the US the "center" and "superpower" of Bitcoin in the world was revealed early on at the Bitcoin 2024 Conference in July. At that time, the former President affirmed that under Biden, the US had weakened in all aspects, including nurturing progress through promoting the crypto industry and Bitcoin.
Therefore, if he is re-elected to the White House and the Republican Party returns to power in November, Mr. Trump will do everything possible to keep crypto in the US with plans to "explode the arena" including:
A plan to cut energy costs to retain and attract miners.
Prevent the US from selling its bitcoin holdings, and establish a national Bitcoin reserve for the US based on the more than 213,000 BTC currently held by the US Department of Justice as evidence of criminal confiscation.
End “Operation Chokepoint 2.0”, a nickname often used by the crypto community to refer to the US government's crypto crackdown under Biden.
In particular, he promised to fire Gary Gensler, Chairman of the US Securities and Exchange Commission - who has always been considered a "bad guy" in the eyes of the crypto investment community with a series of securities accusations, most recently the OpenSea NFT trading market.
Also since appearing at the Bitcoin 2024 Conference with many statements that "excited" the crypto investment community, Trump has increasingly focused on attracting voters to be interested in and participate in the cryptocurrency market at the business level when recently announcing the 4th NFT collection - quickly earning more than 2 million USD after only 1 day of launch.
Donald Trump's three previous NFT collections were released in turn from 2022 - 2024 with 3 different blockchain networks depending on the trend:
- The first time was on Ethereum in December 2022;
- The second time on Polygon in April 2023;
- The third time on the Ordinal Bitcoin protocol in January 2024.
It is estimated that the former President has earned about 10 million USD ETH from these NFT sales. Mr. Trump's Ethereum wallet address is also in the top of the wallets of famous people who own the most crypto. But this is Trump's own "pocket money", and according to the election campaign, Trump collected $4 million in donations from the crypto industry before the Bitcoin 2024 Conference.
After that, thanks to an impressive speech at the Conference, he raised $21 million, contributed mainly by organizations and "whales" in the crypto field.
On the prediction market Polymarket, Mr. Trump currently has a slight advantage over his Democratic opponent Kamala Harris, with the predicted winning rate of the US Presidential election in November being 50% - 49%. Much of this is due to his plans and policies aimed at the crypto community, and most recently "catalyzed" by the support of former candidate Robert F. Kennedy Jr.
