Donald Trump’s fan meeting last night wasn’t just an exciting event, but also brought many positive signs for the cryptocurrency industry in the near future.
On the evening of May 8th (US time), former US President Donald Trump hosted an intimate gathering with holders of his NFTs. To be invited to the Trump Cards NFT Gala, you must own at least 47 of his NFTs, priced at $99 each.
Several hundred people attended the “Fan Meeting” at the Mar-a-Lago resort in Palm Beach, Florida. It was here that the real estate mogul, reality TV star, and 2024 presidential reelection candidate made several shocking statements.
Firstly, Donald Trump pledged to remove the hostile attitude towards crypto in the United States, declaring to protect and keep crypto-related companies within the country.
“He voiced his support for crypto and urged voters to vote for him:
“Biden doesn’t even know what cryptocurrency is. I embrace crypto, if you love crypto, you know who to vote for.”
Donald Trump
Donald Trump “sneered” at the Chairman of the U.S. Securities and Exchange Commission (SEC):
“Gensler is anti-crypto, the Democratic Party is also very anti-crypto, but I’m different.”
Trump also declared to the crowd that he would revive NFTs. Trump’s presidential campaign currently does not accept cryptocurrency donations, but he encourages voters to do so with Bitcoin and other tokens.
“We can contribute to the Trump campaign using cryptocurrency, right? I believe the answer is yes.”
After hearing the news of a meme coin named “BODEN” mimicking the current US President with a market capitalization of $240 million, Trump mocked, “I don’t like that investment.” And immediately, the price of BODEN skyrocketed after receiving attention from Trump.
This marks the first time in history that former President Donald Trump publicly supports not only Bitcoin but also cryptocurrency in general. If Trump is reelected, this could open a new chapter for the crypto market, although it’s not conclusive yet. Nevertheless, this is a promising signal.
Trump had held an opposing stance on crypto for quite some time. It wasn’t until the period of 2022-2024 that he began to “change his tune,” praising Bitcoin as a “useful form of currency” and opposing the government’s plans to issue CBDC digital currencies.
At the same time as Trump’s “fan meeting,” the Biden administration announced that if Congress advances legislation to repeal SEC’s SAB 121 regulation, they would veto it. This is a rule discriminating against crypto assets, forcing banks to stay away from storing cryptocurrencies.
The price of the memecoin MAGA (TRUMP), supporting Trump, has surged by nearly 60% compared to 24 hours ago, thanks to the positive statements from the former President.
