Donald Trump, the 45th President of the United States, has stated that he supports the cryptocurrency industry. He also pledged to “stop Joe Biden’s crusade to crush crypto.” “I’ll be in favor of the right to primary custody.” Additionally, he plans to “commute Ross Ulbricht’s sentence to a sentence of time served.” Furthermore, Trump emphasized, “I will never allow the creation of a central bank digital currency, and I will keep Elizabeth Warren and her goons away from your bitcoin.”
Trump’s Promising Cryptocurrency
At the Libertarian National Convention in Washington, D.C., on Saturday, former US President and current presidential contender Donald Trump gave a speech. He spoke on a variety of subjects, stressing the need for Republican and Libertarian cooperation to win elections.
Trump stated with reference to cryptocurrencies:
I will also halt Joe Biden’s efforts to undermine cryptocurrency. We will put an end to it. I’ll make sure that developments in cryptocurrency and bitcoin take place in the United States, not abroad.
“I’ll back the right to primary custody,” he continued. “With your vote, I will keep Elizabeth Warren and her cronies away from your bitcoin, and I will never allow the creation of a central bank digital currency [CBDC],” the president said to the 50 million cryptocurrency owners in the country.
Trump added, saying:
On the first day of office, if you vote for me, I will commute Ross Ulbricht’s sentence to time served. He has completed his 11-year term. We will return him home.
Trump went on, “I am proud that I have presented a comprehensive plan to destroy the censorship and industrial complex and restore free speech.” “I will issue an executive order on day one prohibiting government agencies from working together to restrict the speech that American citizens are legally entitled to. The renegade bureaucrats who plan to violate your First Amendment rights will be fired. We’ll get right on it. I’m going to cut a record amount of rules that violate individual liberties. Joe Biden’s proposal to enact the biggest tax hike in American history will not go through.
Trump stated on his social media platform Truth Social, “I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” after his speech at the Libertarian National Convention. He emphasized that there “must be a second place” and that the United States “must be the leader in the field.” Along with labeling Joe Biden “the worst president in our country’s history,” he also expressed his desire for the country to “die a slow and painful death.” Trump said, “That will never happen with me,” in closing.
Since he said in a 2019 tweet (now X): “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump’s position on cryptocurrencies has drastically changed. Trump has introduced three non-fungible token (NFT) collections since taking office.
The first major party nominee to accept cryptocurrency contributions for his campaign is the former US president. Because of his administration’s acceptance of bitcoin futures exchange-traded funds (ETFs), Chris Giancarlo, the former head of the Commodity Futures Trading Commission (CFTC), believes that Trump is the first president to embrace cryptocurrency. Trump recently urged proponents of cryptocurrencies to back him by criticizing Joe Biden’s grasp of the field. The 45th President of the United States called bitcoin “an additional form of currency” in March and acknowledged its increasing popularity in February, saying it had taken on a life of its own and that he could live with it.