Donald Trump Wins the Presidency: Here’s What It Means for Crypto

Donald Trump, the self-styled stalwart of the U.S. crypto business, has secured a second time period as president of the US.

Whereas the Related Press has but to name the race for Trump, the previous president got here out to a packed crowd on the Republican Headquarters at Mar-a-Lago in Florida after successful the US Presidential Election.

Republicans have additionally secured victory within the Senate alongside a potential win within the Home, although counting nonetheless continues.

The embattled Republican billionaire received Georgia, a swing state, early within the vote rely late Tuesday, surging forward of his Democratic challenger, Vice President Kamala Harris.

He additionally secured Pennsylvania, one other key state, early Wednesday, price some 19 electoral votes.

Whereas Trump has but to say 270 electoral votes required to safe the presidency, it seems to be a foregone conclusion, as Wisconsin and Michigan—two key battleground states—will probably push him properly above that determine.

Trump’s victory was met with jubilation by some inside the crypto business, who’re banking on his marketing campaign guarantees to champion and defend their interests.

Celebrating his political comeback, Trump advised the gang, “Frankly, this was the best political motion of all time.”

“We’ll assist our nation heal; now we have a rustic that wants assist very badly. We’ll repair our borders; we’ll repair the whole lot,” Trump mentioned.

Crypto marketing campaign guarantees

From the outset of his marketing campaign, Trump vowed to loosen restrictions on digital belongings and blockchain expertise companies within the U.S.

Trump has pledged to assist the crypto business by establishing a nationwide Bitcoin reserve, backing U.S.-based mining, opposing a U.S. CBDC, and advocating for self-custody rights.

Moreover, his household’s latest enterprise, World Liberty Monetary, indicators a deepening dedication to the sector.

It earned him the assist of business insiders and crypto members who allege that they had been unfairly targeted amid a crackdown underneath the Biden administration. 

Trump hammered dwelling these guarantees final spring throughout his speech at Bitcoin Nashville, the place he unveiled a plan to construct a Bitcoin “stockpile” for the U.S. Federal Reserve, along with promising to fireside Securities Alternate Fee Chairman Gary Gensler. 

On the marketing campaign path, Trump pulled a number of publicity stunts to underscore his newfound dedication to advertise and defend crypto, which he known as a “rip-off” just some years in the past. 

He convened with Bitcoin fans in Washington, D.C., launched an eyebrow-raising DeFi platform, and bought burgers for supporters with BTC at a bar for Bitcoiners in New York Metropolis. 

The Republican’s engagement with crypto earned him a number of endorsements from outstanding business gamers early on throughout his marketing campaign run, together with from ex-Messari CEO Ryan Selkis and Gemini founders Tyler and Cameron Winklevoss. 

X proprietor and billionaire Elon Musk has additionally been one in every of his most outstanding vocal supporters.

Edited by Sebastian Sinclair