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Donald Trump affirms cryptocurrency support at San Francisco fundraiser
Former US President Donald Trump raised $12 million from the tech firm’s fundraiser
By Web Desk | 08 June 2024
Donald Trump affirms cryptocurrency support at San Francisco fundraiser
Republican presidential candidate Donald Trump declared his support for cryptocurrency and criticized Democratic regulatory efforts during a fundraiser in San Francisco on Thursday.
As multiple sources reported, the event, hosted by tech venture capitalists David Sacks and Chamath Palihapitiya at Sacks’ home in Pacific Heights, raised $12 million.
Trevor Traina, a technology executive and Trump’s former ambassador to Austria, said he “said he would be the president of cryptocurrencies.”
Meanwhile, Republican National Committee member Harmeet Dhillon said Trump emphasized the importance of cryptocurrency and his strong support for the industry.
However, Trump did not provide details on his proposed crypto policies.
On the other hand, US President Joe Biden signed an executive order in 2022 to ensure the responsible development of digital assets, leading regulators such as the SEC and CFTC to issue guidelines to address risks in the crypto ecosystem.
Meanwhile, the Biden administration has expressed its desire to work with Congress on developing a regulatory framework for cryptocurrencies.
Meanwhile, Palantir advisor Jacob Helberg said: “President Trump has made it clear that the Biden-Gensler crusade against cryptocurrencies will stop within an hour of the second Trump administration.”
Additionally, Coinbase executives, the Winklevoss twins of Gemini, and other crypto industry leaders participated in the fundraiser.
A Gemini spokesperson did not immediately comment. Sacks and Palihapitiya have publicly discussed their investments in cryptocurrencies, particularly bitcoin.
The event also comes on the heels of the sentencing of Sam Bankman-Fried, founder of bankrupt cryptocurrency exchange FTX, who was found guilty of stealing from customers and using the funds to donate more than $100 million to US political campaigns.