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Trump's Cryptocurrency Strategy and 2024 Election Prospects

Jun 3, 2024

Former President Donald Trump is aligning himself with cryptocurrencies as the US elections near, a stark contrast to President Biden's stance. Trump's recent actions, including issuing NFTs and accepting crypto donations, aim to sway voters and distinguish his campaign from Biden's anti-crypto views. While Bitcoin is trading at $69,700, reflecting widespread market interest, Trump is making strategic moves in the crypto space to attract the growing community's support. On the other hand, Biden's administration seems reactive, evidenced by approving the ETH ETF post-Trump's initiatives. The FIT21 bill, focusing on altcoin classifications, awaits Senate approval and Biden's backing. Trump's 2024 election prospects are uncertain following his recent conviction on 34 counts. Despite this, his eligibility to run remains intact under the US Constitution. His pro-crypto stance, unlike other Republican contenders, could lead to more favorable regulations in the industry. As Trump navigates legal battles and potential candidacy, the future of US crypto regulations hinges on the election's outcome.

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