The Breakdown A Presidential Campaign Crypto Milestone
May 23, 2024
Former President Trump accepts cryptocurrency donations, causing reactions from Biden's team. SEC considers Ethereum ETF approvals. Intense efforts to meet ETF approval deadline. Political dynamics within SEC post-feedback from Biden administration. Recent developments in Bitcoin and Ether ETF approvals, trading timelines, and implications. Political debate over FIT-21 bill, divisions among Democrat leaders, and implications for digital asset market.
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Trump Accepts Crypto
- Trump is the first major party candidate accepting crypto donations.
- He accepts Bitcoin, Ethereum, Solana, Ripple, USDC, Dogecoin, and SHIB.
Crypto in Campaigns
- While Trump accepts crypto, it's not yet a major campaign issue.
- Biden's campaign is noticing the fundraising potential of crypto.
Ethereum ETFs and Politics
- The SEC's likely approval of Ethereum ETFs may be politically motivated due to its unprecedented nature.
- The rapid turnaround and split approval process suggest a political influence, potentially to attract young voters.