Trump's 2024 Campaign to Accept Crypto Donations Amid Legal Woes
Summary:
Former U.S. President Donald Trump's 2024 presidential campaign will now accept crypto donations via Coinbase Commerce. Accusations of Senator Elizabeth Warren acting as President Biden’s delegate in Congress and criticising crypto, were made without evidence. Yet, despite accepting crypto, Trump's campaign website failed to mention digital assets or blockchain technology. Concurrently, Trump is involved in criminal trials in four distinct U.S. regions, including allegations of falsifying documents and attempting to reverse 2020 election results. Political action committees (PACs) known to support Trump have been reported to pay for some of his legal bills.
Donald Trump, the erstwhile U.S. president who is currently embroiled in criminal proceedings in four distinct regions of the nation, has made it known that his 2024 presidential bid will be open to receiving donations in cryptocurrency. A communique slated for May 21 revealed that the Trump 2024 initiative had created an online donation portal where individuals could donate using their crypto assets via Coinbase Commerce. This portal showcases logos of Bitcoin, Ether, Dogecoin, Shiba Inu, XRP, USD Coin, Solana and 0x. Trump's campaign, without any evidence, blamed Senator Elizabeth Warren as President Joe Biden’s official delegate in Congress, criticizing her stance on crypto.
At a supporter dinner on May 8, where participants bought a non-fungible token displaying a mugshot from his Georgia jail surrender, Trump guaranteed attendees they could make crypto contributions to his campaign. Trump, as the expected Republican Party candidate for the 2024 presidential race, will likely contend with President Biden, who is speculated to be the Democratic Party's nominee. In response to a challenged issued by President Biden on May 15, Trump agreed to participate in televised debates on June 27 and September 10 on CNN and ABC respectively.
However, despite accepting cryptocurrency donations, the 'issues' page on Trump's campaign site intriguingly does not mention anything about digital assets or blockchain technology as of now. President Biden, on the other hand, has scarcely made public comments on cryptocurrencies but did establish a regulatory framework for digital assets in 2022 through an executive order.
Meanwhile, as Trump's announcement about crypto donations was made, jurors in his New York criminal trial were gearing up for deliberations scheduled for the coming week. Trump has been obliged to attend his Manhattan court hearing in person for allegedly falsifying documents related to a $130,000 payment to adult film actress Stormy Daniels, and he also stands accused in Georgia and the District of Columbia for purportedly trying to reverse the 2020 election outcome and in Florida for alleged misuse of classified documents.
Despite having expressed his skepticism about Bitcoin, labeling it as a "scam" in 2021, Trump appeared to reconsider his stance, with his campaign now openly accepting crypto. Political action committees (PACs) backing Trump are reportedly picking up the tab for some of his legal troubles. In February, Trump and his companies were required to pay $355 million for fraud, and in January, a New York judge demanded Trump pay over $83 million related to a defamation lawsuit filed by author E. Jean Carroll. In May 2023, Trump was held responsible and ordered to pay $5 million in damages for sexual assault and defamation against Carroll.
Published At
5/22/2024 12:49:19 AM
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