Trump Rallies NFT Enthusiasts at Florida Home, Boosts Crypto Industry While Mocking Rival’s Memecoin
Summary:
Ex-President Donald Trump recently hosted a gathering of nonfungible token (NFT) enthusiasts at his Florida home, where he expressed support for cryptocurrency and attributed the resurgence of NFTs to his own collection. Despite disparaging a political rival's memecoin, he inadvertently caused its price to surge. Trump maintains his commitment to preserving the dominance of the U.S. dollar in the traditional banking system while showing increasing openness to Bitcoin and other cryptocurrencies.
In a recent gathering with nonfungible token (NFT) enthusiasts at his home in Florida, ex-President Donald Trump generated a collection of remarkable remarks. Not only did he pledge to champion crypto creators in the U.S, but he also partially attributed the resurgence in the NFT market to his extensive collection. Furthermore, he disparaged a political opponent's memecoin, unintentionally causing a significant surge in its value. Snippets of his noteworthy phrases were shared on social media platform X on May 8. In one clip, he expressed support for the crypto industry and pledged to create a more conducive regulatory landscape by mitigating the alleged "hostility" perpetuated by President Biden's administration and the Securities and Exchange Commission.
When a keen NFT participant named "Malcolm" questioned Trump about his strategy for retaining digital innovators in the U.S., he explained his eagerness to promote an all-embracing environment. Focusing on NFTs, he contended that his Mugshot NFTs and other collections reignited interest in NFT commerce. To attend his dinner party, most guests forked out a minimum of $4,653 to purchase one of Trump's Mugshot NFTs. Other contributing NFT collections included Trump NFT Cards, POTUS, and Melania Trump's 1776 collections.
Trump expressed his dislike for the Jeo Boden (BODEN) meme coin that's associated with President Biden, despite its $260 million market capitalization, deeming it an ill-advised investment. Following his criticism, BODEN's value increased by over 10%, while Donald Tremp (TREMP), another loosely Trump-based meme coin, saw an approximate 110% surge.
During and after his presidency, Trump initially viewed Bitcoin (BTC) sceptically, but has become more accepting of it and the surrounding industry over time. Nevertheless, he remains insistent on preserving the supremacy of the U.S. dollar within the traditional banking system and recently expressed a staunch refusal to permit a central bank digital coin during his term.
Trump launched the “MugShot” NFT following his surrender to Georgian authorities in August 2023 due to accusations concerning the actions he undertook to challenge the 2020 election results. In addition to these charges, he must also face a legal trial regarding fraudulent business documentation related to a $130,000 remittance to adult entertainment performer Stormy Daniels. While the court is closed on Wednesdays, Trump utilised the break on May 8 to host the event at his Florida premises.
Published At
5/9/2024 7:22:42 AM
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