Trump Campaign Now Accepting Cryptocurrency Donations via Coinbase
Former U.S. President Donald Trump has announced that his campaign to reclaim the White House will begin accepting Bitcoin donations. This groundbreaking decision, revealed in a press release on his website Tuesday afternoon, marks a significant shift in campaign fundraising.
Trump’s campaign team is poised to stir controversy with this move, particularly against incumbent President Biden. Biden, along with Democratic Senator Elizabeth Warren, has spearheaded rigorous regulatory measures against digital assets, including Bitcoin, throughout much of his tenure in Washington.
“In his presidency, Donald Trump reduced regulations and championed financial technology innovation, while Biden and his proxies, like Elizabeth Warren, believe only the government can determine how our nation should lead the world,” the statement reads.
Trump’s familiarity with Bitcoin dates back to his administration, where he appointed longtime Bitcoin and cryptocurrency supporter Mick Mulvaney as White House Chief of Staff. Additionally, PayPal’s Peter Thiel was part of his transition team.
Trump also made history as the first U.S. president to adopt NFTs. His Trump Cards, launched in late 2022, sold out rapidly. During a campaign event in New Hampshire this January, Trump vowed that if elected, he would prevent the Federal Reserve from creating a central bank digital currency (CBDC). Trump declared:
“Tonight, I make another promise to protect Americans from government overreach. As your president, I will never allow the creation of a central bank digital currency.”
Regarding campaign contributions, the announcement clarified that donors could use Coinbase, the only publicly listed Bitcoin exchange in the U.S., to send Bitcoin and other cryptocurrencies to Trump’s 2024 campaign.
“Elizabeth Warren, acting on behalf of Biden, has declared war on cryptocurrency, saying she is building an ‘anti-crypto army’ to restrict Americans’ financial choices,” the statement continues. “Our supporters now have a new crypto option, enabling them to form a ‘crypto army’ to drive our campaign to victory on November 5th!”
By incorporating cryptocurrency donations, Trump’s campaign is not only innovating its fundraising approach but also positioning itself in stark contrast to the current administration’s stance on digital assets. This strategy highlights Trump’s ongoing commitment to financial technology and his support for the cryptocurrency community.
