Trump is currently facing multiple lawsuits in the running as a Republican Party nominee to face off in the upcoming Presidential elections against the Democratic Party’s President Joe Biden. As the former President of the United States, Trump is dealing with lawsuits filed in 4 US states.
Trump Election Campaign Starts Accepting Crypto Donations
However, he has announced his candidacy for the November 2024 Presidential elections. As per the latest statement issued by the former US President, his election campaign is now open to accepting crypto donations.
The notification was posted on 21st May 2024, where the Trump 2024 Presidential campaign manager unveiled that they have set up a fundraising site to allow American citizens to support the Trump campaign and send funds via Coinbase wallets.
The fundraising webpage that Trump showcases the symbols of Bitcoin, Ethereum, Shiba Inu, 0x, Solana, and Dogecoin. The declaration about crypto fund acceptance was followed by the anti-crypto statement issued by Senator Elizabeth Warren.
The Trump campaign has also alleged that Sen. Warren is working as an official surrogate for President Joe Biden in Congress.
Speaking with the attendees during one of the campaign dinners on 8th May 2024, Presidential candidate Trump spoke a few words on the matter. He stated that he was going to ascertain that his supporters are encouraged to send funds in the form of cryptocurrencies.
Trump’s NFT Collection
It is important to note that the attendees at the campaign dinner purchased an NFT collection issued by Trump that contained a mugshot of his surrender at Georgia Jail.
With the next US presidential campaign set to take place less than 6 months ahead, former president Trump has retained his position as the presumptive presidential nominee for the Republican Party.
On 15th May 2024, the former president agreed to appear for a televised debate issued by President Biden on 27th June on CNN and 10th September ABC. However, the terms of debate are not finalized yet.
If accepted by both parties, it will mark the first time since 2020 as the two US presidents to face-off against each other. Meanwhile, the digital funding page started by Trump Presidential management does not specify digital assets or blockchain networks since going live.
On one end, President Biden has thus far refrained from making a statement about crypto while he issued an executive order to create a regulatory framework for digital assets in 2022.
Trump’s Crypto Announcement to Impact his Election Campaign
The crypto campaign announcement by Trump’s Presidential campaign is coincided with his appearance at a lawsuit at New York next week. President Trump is under legal obligation to make an in-person appearance at the Manhattan court regarding allegations about falsified documents.
He is also facing charges in the state of Georgia and District of Columbia for allegedly overturning results of 2020 election.
Another case against him purports that the former president mishandled classified government documents. After leaving the White House in 2021, Trump stated that Bitcoin sounded like a scam while asserting that USD was the only legitimate international currency.
However, before announcing his nomination as the Republican Party’s Presidential candidate his stance on the matter shifted after Vivek Ramaswamy and Ron DeSantis voiced their opinions on Central Bank Digital Currencies (CBDCs).
During one of the election campaign speeches in January 2024, Trump asserted that he would bar CBDC issuance in the United States. The political action committees (PACs) that are supporting the Trump campaign have issued bills associated to the lawsuits that the former president is currently facing.
In February, a judge issued $335 million in disgorgement fines to Trump and his firms finding them guilty of committing fraud. Meanwhile, a New York judge ordered the former president to pay around $83 million in a defamation lawsuit filed by E. Jean Carroll.
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