Former US President Donald Trump has announced that his presidential campaign will now accept cryptocurrency donations. Trump made the announcement during a special event for holders of his “Mugshot Edition” non-fungible tokens (NFTs) at his Mar-a-Lago residence in Florida.
Trump’s move highlights his ongoing engagement with cutting-edge technology and digital assets. In a broader context, this also marks a significant shift in political fundraising strategies and aligns with growing digital trends.
From NFTs to Crypto: Trump’s Digital Campaign Trail
The revelation came through a short video released by Frank DeGods, co-founder of the DeGods and y00ts projects. In the video, Trump confidently responds to a question about crypto donations.
“If you can’t, I’ll make sure you can. Can we donate to the Trump campaign using crypto? I believe the answer is yes,” Trump answered.
Although this bold declaration has spread across various social media platforms, especially X (formerly Twitter), it still awaits more details from Trump’s campaign staff.
Continuing his dialogue on the subject, Trump addressed concerns about the US regulatory environment. Some believe this environment is driving crypto entrepreneurs offshore.
When Malcolm, Chief of Staff at De Labs (DeGods and y00ts parent company), questioned how he plans to handle the exodus of American crypto players, Trump labeled the current regulatory measures as “hostility.” He also promised a more welcoming approach.
“We’ll stop it because I don’t want that. If we’re going to embrace it, we have to let them [crypto industry players] be here,” Trump asserted.
Post-announcement, meme coins linked to political figures experienced a surge in their market value. These include Doland Tremp (TREMP) and Jeo Boden (BODEN). TREMP notably rose from 0.0017 Solana (SOL) to 0.0047 SOL (approximately from $0.24 to $0.67) before settling at 0.0041 SOL (~$0.59).
TREMP/SOL Price Performance. Source: DEX Screener
Trump’s move to host this dinner garnered attention from many, particularly after a legal testimony on Tuesday. Trump even told reporters he wanted to campaign instead of being tied up in a courtroom. However, it seems that the dinner announcement was not made public and was circulated to certain invitees.
In a broader context, Trump’s positive stance on cryptocurrency suggests his potential presidency could foster a more favorable regulatory climate for cryptocurrencies in the US. Market analysts speculate this could invite more global investment in digital currencies, possibly enhancing their value and prominence.