Former President Donald Trump announced at a Silicon Valley fundraiser on Thursday that he plans to be a “crypto president,” contrasting with the Biden administration’s anti-innovation stance.
Trevor Traina, a Silicon Valley tech executive and former Trump ambassador, mentioned, “He said he would be the crypto president.”
Trump expressed his support for cryptocurrencies and Bitcoin during a fundraiser hosted by tech venture capitalists David Sachs and Chamath Palihapitiya at Sachs’ home.
While President Joe Biden and Securities Exchange Commission (SEC) Chairman Gary Gensler have implemented strongly anti-crypto policies, the 45th president has gained favor in Silicon Valley and the cryptocurrency sector.
Despite San Francisco’s left-leaning tendencies, many residents are warming up to Trump.
“President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration,” said Jacob Helberg, an advisor to analytics firm Palantir.
Executives from the digital currency exchange Coinbase, Tyler and Cameron Winklevoss, founders of the crypto exchange Gemini, and other crypto leaders attended Thursday’s fundraiser.
Although lawmakers and Trump have started supporting cryptocurrencies, numerous critics of the emerging financial technology sector remain.
House Majority Whip Tom Emmer (R-MN) told Truth Voices in an interview in late May that most anti-crypto advocates are “dinosaurs” who are often up in age.
Most of the anti-crypto advocates are:
- Sen. Elizabeth Warren (D-MA), a staunchly anti-crypto progressive, is 74 years old.
- Rep. Brad Sherman (D-CA) is 69 years old.
- Rep. Maxine Waters (D-CA) is 85 years old.
- President Joe Biden is 81 years old.
- SEC Chairman Gary Gensler is 66 years old.
Trump posted in late May:
I AM VERY POSITIVE AND OPEN MINDED TO CRYPTOCURRENCY COMPANIES, AND ALL THINGS RELATED TO THIS NEW AND BURGEONING INDUSTRY. OUR COUNTRY MUST BE THE LEADER IN THE FIELD. THERE IS NO SECOND PLACE. CROOKED JOE BIDEN, ON THE OTHER HAND, THE WORST PRESIDENT IN THE HISTORY OF OUR COUNTRY, WANTS IT TO DIE A SLOW AND PAINFUL DEATH. THAT WILL NEVER HAPPEN WITH ME!
Trump reportedly raised $12 million from the fundraiser.
