Former US President Donald Trump has announced that his presidential campaign will now accept cryptocurrency donations. Trump made the announcement at a special event for holders of his “Mugshot Edition” non-fungible tokens (NFTs) at his Mar-a-Lago residence in Florida.
Trump’s move highlights his continued commitment to cutting-edge technology and digital assets. In a broader context, this also marks a significant shift in political fundraising strategies and aligns with growing digital trends.
From NFTs to Crypto: Trump’s Digital Campaign Trail
The revelation came via a short video released by Frank DeGods, co-founder of the DeGods and y00ts projects. In the video, Trump confidently responds to a question about crypto donations.
‘If you can’t do it, I’ll make sure you do. Can we donate to the Trump campaign using crypto? I believe the answer is yes,” Trump responded.
Read more: Donate crypto using the Giving Block
While this bold statement has spread across several social media platforms, especially X (formerly Twitter), it is still awaiting more details from Trump’s campaign staff.
Continuing his dialogue on the topic, Trump expressed concerns about the US regulatory environment. Some believe this environment is driving crypto entrepreneurs abroad.
When Malcolm, chief of staff of De Labs (the parent company of DeGods and y00ts), questioned how he plans to deal with the exodus of US crypto players, Trump labeled the current regulatory measures as “hostility.” He also promised a more welcoming approach.
‘We’ll stop because I don’t want that. If we want to embrace it, we must allow it [crypto industry players] be here,” Trump claimed.
Following the announcement, meme coins linked to political figures experienced a sharp increase in their market value. These include Doland Tremp (TREMP) and Jeo Boden (BODEN). Notably, TREMP rose from 0.0017 Solana (SOL) to 0.0047 SOL (approximately from $0.24 to $0.67) before settling at 0.0041 SOL (~$0.59).
Read more: 11 Best Solana Meme Coins to Watch in 2024
TREMP/SOL Price performance. Source: DEX Screener
Trump’s decision to host this dinner caught the attention of many, especially after legal testimony on Tuesday. Trump even told reporters he wanted to campaign instead of being tied up in a courtroom. However, it appears that the dinner announcement was not made public and was distributed to certain invitees.
In a broader context, Trump’s positive stance on cryptocurrency suggests that his potential presidency could foster a more favorable regulatory environment for cryptocurrencies in the US. Market analysts speculate that this could lead to more global investment in digital currencies, potentially increasing their value and prominence.