Benzinga - by Chris Katje, Benzinga Staff Writer.
Former President Donald Trump is now accepting cryptocurrency for official campaign donations, extending on his recent support for the sector in an event with owners of one of his NFT collections.
What Happened: In early May, Trump showed his support for the cryptocurrency sector and said that his campaign would accept crypto donations in the future.
"If you like crypto in any form…if you're in favor of crypto you'd better vote for Trump," the former president said at the time.
On Tuesday, Trump's presidential election campaign became the first major party campaign to accept cryptocurrency donations.
"This addition to President Trump's already groundbreaking digital fundraising operation marks the first time a major party Presidential nominee has embraced cryptocurrencies for donations," a statement reads.
The fundraising effort follows Federal Election Commission regulations and is said to allow any cryptocurrency that is currently accepted in the Coinbase Commerce product from Coinbase Global (NASDAQ:COIN).
"Demonstrating President Trump's success as a champion of American freedom and innovation, we proudly offer you a chance to contribute to the campaign with cryptocurrency. Saving our nation from Biden's failures requires your support," the website reads.
The website says that Trump "stands ready to embrace new technologies that will Make America Great Again."
Images on the site show support for the following cryptocurrencies listed below, while others may also be supported using the Coinbase product.
- Bitcoin (CRYPTO: BTC)
- Ethereum (CRYPTO: ETH)
- Solana (CRYPTO: SOL)
- Tether (CRYPTO: USDT)
- XRP (CRYTO:XRP)
- Dogecoin (CRYPTO: DOGE)
- Cardano (CRYPTO: ADA)
- Shiba Inu (CRYTO:SHIB)
- Avalanche (CRYPTO: AVAX)
Why It's Important: The move to accept cryptocurrency donations for his campaign comes as independent competitor in the 2024 election Robert F. Kennedy Jr. has accepted Bitcoin for months.
Trump’s effort to attract the cryptocurrency crowd comes as President Joe Biden and several key Democratic leaders in Congress have been recognized as anti-crypto in policy.
"As our President, Donald J. Trump has reduced regulations and championed innovation in financial technology, while Democrats, like Biden and his official surrogate Elizabeth Warren, continue to believe only government has the answers to how our nation leads the world," a statement reads.
Trump references that Senator Elizabeth Warren (D-Mass.) is building an "anti-crypto army."
"MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!"
Read Next: If You Invested $1,000 In Bitcoin When Donald Trump Said The Crypto’s Value Was ‘Based On Thin Air,’ Here’s How Much You’d Have Now
Image generated using artificial intelligence via Midjourney.
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