Trump's $10M Crypto Portfolio Boosts Election Odds, Shifts U.S. Crypto Policy
May 27, 2024Former President Donald Trump's cryptocurrency portfolio now exceeds $10 million and includes MAGA tokens, ETH, and MVP tokens.
Trump shows newfound support for digital assets, embracing self-custody rights and accepting crypto donations for his campaign.
He pledges to safeguard crypto holders' rights, oppose central bank digital currencies, and may commute Silk Road founder Ross Ulbricht's sentence if re-elected.
Trump's pro-crypto stance contrasts with the Biden administration's opposition, with a prediction platform giving him a 56% chance of winning the election.
This shift has influenced the administration's approach to crypto and the SEC's regulatory stance, leading to the approval of key filings for spot Ethereum ETFs and the passage of a crypto market structure bill.
Trump's endorsement of cryptocurrency is seen as a significant milestone for the industry, boosting his election odds and showcasing potential gains for the crypto market.
North Dakota governor Doug Burgum trails behind Tim Scott for the Republican VP pick.
A dispute on Polymarket over SEC approval of ether ETFs highlights the market's shifting sentiment towards Trump and Burgum.
Summary based on 20 sources
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Sources
Insider • May 27, 2024
These are the most important billionaires backing Trump's 2024 campaignReadWrite • May 27, 2024
Trump backs cryptocurrency, vows to make America its leaderInternational Business Times • May 27, 2024
US Elections 2024: Trump Declares Support For Crypto Users' 'Right To Self-Custody'CoinDesk • May 27, 2024
Trump Widens Lead Over With Biden (on Polymarket and PredictIt) After Courting Crypto Vote