Trump Makes Pitch to Crypto Industry

Harris holds first fundraiser since taking control of Democratic nomination
By Bob Cronin,  Newser Staff
Posted Jul 27, 2024 5:20 PM CDT
Trump Tells Crypto Industry He's a Supporter Now
Vice President Kamala Harris delivers remarks at a campaign event in Pittsfield, Mass., on Saturday.   (AP Photo/Stephanie Scarbrough)

As president, Donald Trump was critical of the cryptocurrency industry. But the Biden administration's efforts to protect Americans from crypto scams and keep digital currency from financing crime have not gone down well with backers of the currency, including Silicon Valley political donors. Fearing new regulations, environmental protections, and investigations, at least some of them are considering turning to the Republican presidential nominee, the Washington Post reports. Trump attempted to step through that opening on Saturday in Nashville, promising this year's Bitcoin Conference he'll make the US the "crypto capital of the planet and the bitcoin superpower of the world."

Although he didn't propose establishing a formal federal reserve of digital currency, Trump said if elected he'd make sure the government never sells its bitcoin assets, per CNBC. He told the gathering its industry has been a victim, per the New York Times. "The moment I'm sworn in, the persecution stops and the weaponization ends against your industry," he said. Trump also had a big-money fundraiser with crypto advocates scheduled for Saturday and was to appear with his running mate, JD Vance, in Minnesota, per the AP.

  • Harris raises money: Vice President Kamala Harris held her first fundraiser since appearing to lock up the Democratic presidential nomination, telling supporters Saturday that Trump is determined to roll back Americans' freedoms. "I will fight to move our nation forward," Harris said. "Donald Trump intends to take our country backwards." Her campaign said the event in Pittsfield, Massachusetts, would take in more than $1.4 million, per the AP, exceeding the estimate made for the event before President Biden withdrew from the race.
(More Donald Trump 2024 stories.)

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