Donald Trump made a swift entry into the cryptocurrency world and now aims to be the president of crypto. We shared the details yesterday, and we have been discussing Trump’s steps in crypto for months. This approach, which also influenced the approval of the Spot ETH ETF, has reduced political and legal pressure on crypto. PolitFi Tokens may gain significant profits by November.
Trump as the President of Crypto
Trump attended a fundraising event hosted by Craft Ventures’ partner David Sacks and technology billionaire Chamath Palihapitiya yesterday. Here, the potential Republican presidential candidate made a bold statement about becoming the president of crypto and raised $12 million in donations.
Trump activated crypto donations on his website, recognizing the popularity of crypto among young people. He acknowledged that this could be a significant vote bank influencing election results. Trump also reiterated his support for crypto and plans to advance the sector, while trying to instill the idea that the Democratic Party is trying to stifle it with strict regulations.
SBF’s strong ties with the Democrats and the SEC’s failure to take necessary measures during the FTX bankruptcy process work in his favor. After US President Joe Biden vetoed a decision to invalidate SEC Staff Accounting Bulletin (SAB) No. 121, things became even easier for Trump in this regard.
Trump said:
“I am very positive and open-minded towards cryptocurrency companies and everything related to this new and emerging sector.”
Potential Rising Altcoins
We have a new area for a while now, and as the US elections in November approach, more discussions on this topic are likely. Of course, we are talking about political-themed tokens (PolitFi). While there are many examples, assets like Joe Biden (BIDEN), Maga (TRUMP), and Super Trump (STRUMP) stand out.
Although they have not been on the market for long, these altcoins have managed to attract significant interest. They are listed by centralized exchanges, and as the US elections in November approach, if interest continues to grow like a snowball, major exchanges like Binance may not remain indifferent to this growing volume. After fan tokens and dog coins, now the meme coins of US presidents (PolitFi altcoins) seem to ignite a new era. Of course, these are risky assets, and investors should be cautious.
