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Cryptocurrency and Bitcoin Take a Backseat in Heated Presidential Debate Between Donald Trump and Joe Biden
President Joe Biden and former President Donald Trump turn to the race for the White House, building anticipation for the first presidential debate of 2024, which has begun with a new round of allegations.
There is buzz on social media platform X that the cryptocurrency industry is pushing for cryptocurrency discussions during tonight’s debate. After President Biden’s veto, his campaign is reportedly considering accepting donations through Coinbase Commerce, a move initiated by President Trump’s campaign last month.
Lawsuits against major cryptocurrency firms like Coinbase, overseen by Biden-appointed SEC Chairman Gary Gensler, have caused a stir in the industry.
However, halfway through the debate, neither candidate expressed their advanced views on cryptocurrencies. After calling Bitcoin a scam shortly after leaving office, Trump has now dubbed himself “the crypto president,” and crypto enthusiasts were eager to hear his thoughts on the topic.
What did Trump previously claim?
A few years ago, at the White House, Trump said: “I am not a fan of Bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on nothing. Unregulated cryptocurrencies can facilitate illicit behavior, including including drug trafficking and other illegal activities. We only have one real currency in the United States and it will always remain that way. It is called the US dollar.”
However, by May 2024, Trump had changed his mind. In a speech, he said: “I will ensure that the future of cryptocurrencies and bitcoins is created in the United States, not pushed abroad. I will support the right to self-custody for the nation’s 50 million cryptocurrency holders. With the your vote, I will keep Elizabeth Warren and her minions away from your bitcoins AND I will never allow the creation of a central bank digital currency.”