Donald Trumps Campaign to accept Crypto Donations ahead of Upcoming Election
Donald Trump's presidential campaign team announced on Tuesday that it would begin accepting political donations in the form of cryptocurrency.
According to Donald Trump's website, it was stated that the former president’s campaign will accept crypto, including Bitcoin, Ether, US Dollar Coin, Solana, Dogecoin, and Shiba Inu. This is part of an effort to build a crypto army ahead of the November 5 election.
"Donald Trump’s campaign has launched a fundraising page that allows any federally permissible donor the ability to give to its fundraising committees using any crypto accepted through the Coinbase exchange wallet and MetaMask," targeting a broader base of tech-savvy supporters, according to a statement online.
In addition to appealing to a core group of young male voters who are more likely to experiment with digital assets, the announcement highlights Trump's message as a candidate who is pro-cryptocurrency. At the time, Trump's legal team was still focusing on winning his New York hush money case.
It is unclear what kind of fees the Trump campaign will have to pay to liquidate the cryptocurrency and whether it will sell immediately or hold. While campaign finance laws in some states currently prohibit cryptocurrency donations in state elections, the Federal Election Commission allows committees to accept bitcoin donations. Although the campaign team promised to abide by American election laws, the anonymity of cryptocurrencies makes it challenging to determine the source of funding.
The Republican presidential candidate has already made millions of dollars in cryptocurrency with the launch of Trump MAGA coin in August and his non-fungible token projects, and currently holds the largest crypto holding, the Ethereum token TRUMP, at over $4 million.
The online statement also stated that Trump will be the first presidential nominee from a major party to accept crypto donations. This highlights the presidential aspirant's dedication to American innovation and freedom.
It is also reported that there is now a bitcoin donation page for independent candidate Robert F. Kennedy Jr.’s presidential campaign.
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