Former President Donald ***** continued his advances toward the crypto community by hosting an event for holders of the ***** Cards NFT Gala on May 8 at his Mar-a-Lago resort in Palm Beach, Florida.
During the event, ***** expressed his support for cryptocurrencies, announcing plans to accept digital asset donations for his potential re-election campaign. He also emphasized the need for a more favorable regulatory environment for the growing crypto industry.
Following the statements, a *****-inspired MAGA memecoin lacking utility surged by over 40%. This impressive gain positioned MAGA as the top performer on CryptoSlate’s list of gainers during the reporting period.
Pro-crypto
Videos circulating on social media showed *****’s critique of the ***** administration’s approach to crypto, signaling potential shifts in policy should he return to office.
***** highlighted the exodus of crypto firms from the US due to regulatory hostility, promising a friendlier environment under his leadership to bolster the industry domestically.
The former president chastised *****’s lack of crypto understanding, attributing it to his administration’s unfavorable stance. ***** said:
“***** doesn’t know, Gensler is very much against it, the Democrats are very much against it.”
Notably, ***** previously held anti-crypto sentiments during his tenure, labeling Bitcoin as a scam in 2021. However, his views of the sector appear to have evolved, as evidenced by his embrace of non-fungible tokens (NFTs) bearing his semblance.
***** is banking on this newfound view to gather support for his presidential campaign, stating that:
“If you like crypto in any form, and it comes in a lot of different forms, if you are in favor of crypto, you better vote for *****.”
These moves have spurred speculation on how a potential ***** presidency could benefit crypto. Financial institution Standard Chartered suggested that a second ***** term could be a boon for Bitcoin and other digital assets by offering viable alternative investment avenues.
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