Nfts
Donald Trump’s Cryptocurrency Donations Hit $3 Million, New NFT Arrives
Former US President Donald Trump has hinted at plans to launch his fourth collection of non-fungible tokens (NFTs).
The move reflects Trump’s growing commitment to the Web3 space and marks a notable shift in his stance on digital currencies.
Trump’s surprise success with NFTs sparks new collectible projects
In a recent interview with Bloomberg, Trump revealed his plans to launch the new NFT collection. He said he was surprised by the resounding success of his previous NFT initiatives.
“I did things like NFTs and that kind of thing. And I noticed that 80% of the money was paid in crypto. It was incredible,” Trump said. declared.
Learn more: The 11 Most Expensive NFTs Ever Sold
Trump teased the possibility of a fourth collection at a gala dinner for holders of NFTs of his passport photos at Mar-a-Lago in May. However, he had not specified a timeline or provided additional details at that time.
of Trump The first foray into NFTs began in December 2022 with the launch of its “Trump digital trading cards.” These collectibles sold out quickly, raising around 648 Ethereum (ETH), or about $785,000 at the time.
Trump’s foray into NFTs and cryptocurrencies has not gone unnoticed within the industry. His campaign has garnered support from notable figures in the field of cryptographyincluding Marc Andreessen and Ben Horowitz, co-founders of venture capital firm Andreessen Horowitz (a16z).
In his latest podcast episode, Horowitz voiced his support for Trump. He cited Trump’s pro-tech and startup ecosystem policies as a deciding factor.
“But the future of our company, the future of new technology and the future of America is literally at stake. So we’re here. And for a little bit of technology, we think Donald Trump is actually the right choice,” Horowitz said.
From pizza parlors to cryptocurrency tycoons: Diverse donors bankrolling Trump campaign
This growing support has also translated into substantial financial support. The Wall Street Journal recently reported reported that Trump campaign raises $3 million in crypto donations during the second quarter. These contributions are part of the $331 million raised from various fundraising organizations.
Two of Trump’s joint fundraising committees recorded the donations, mostly made in Bitcoin and Ethereum, in federal campaign filings. The influx of cryptocurrency donations can be attributed to several prominent figures in the digital asset industry.
For example, Cameron and Tyler Winklevoss, co-founders of crypto exchange Gemini, have collectively donated $1.6 million in BitcoinAdditionally, Jesse Powell, co-founder of the Kraken exchange, contributed $845,000 in Ethereum.
In addition to these large-scale contributions, donations have also reflected the support of ordinary citizens. For example, a Michigan pizza restaurant owner and a ticket machine agent for the Long Island Rail Road were among the many people who made small contributions in cryptocurrency.
Trump’s current stance on cryptocurrencies represents a significant shift from his previous positions. During his previous presidency, he was highly critical of Bitcoin and other digital currencies, calling them “no money” and a “fraud.”
However, his recent actions and statements suggest a notable shift. BeInCrypto reported that earlier in June, Trump even said that he wants all bitcoins to be made in the usa.
“If we don’t do it, China will take it and they will have it, or someone else will. […] So we have to face the facts: what I want is for the country to be in its own interest. So we have a good foundation. […] “But I don’t want to be held responsible for allowing another country to take control of that sphere,” Trump explained.
Learn more: How to Donate Cryptocurrency Using the Donation Block
Despite Trump’s new support for cryptocurrency, Not everyone in the industry agrees Some experts say that creating Bitcoin in the United States could create jurisdictional risks, potentially compromising its decentralized nature. Additionally, questions are being raised about the sincerity of Trump’s support, with some viewing his actions as politically motivated rather than a true endorsement of the technology.
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