Trump pitches himself as 'crypto president' at San Francisco tech fundraiser

Trump pitches himself as 'crypto president' at San Francisco tech fundraiser
Trump pitches himself as 'crypto president' at San Francisco tech fundraiser

Hello and welcome to the details of pitches himself as 'crypto president' at San Francisco tech fundraiser and now with the details

Nevin Al Sukari - Sana'a - According to sources, Republican presidential candidate Donald Trump presented himself as a champion for cryptocurrency and slammed Democrats' attempts to regulate the sector during a San Francisco fundraiser on Thursday. ― Reuters pic

SAN FRANCISCO, June 8 ― Republican presidential candidate Donald Trump presented himself as a champion for cryptocurrency and slammed Democrats' attempts to regulate the sector during a San Francisco fundraiser on Thursday, three sources present told Reuters.

Trump raised US$12 million (RM56.3 million) from the fundraiser hosted by tech venture capitalists David Sacks and Chamath Palihapitiya at Sacks' home in the swanky Pacific Heights neighbourhood.

“He said he would be the crypto president,” Trevor Traina, a San Francisco-based tech executive and former Trump ambassador to Austria, told Reuters.

Advertisement

The crypto industry is increasingly trying to influence US politicians as it faces heightened scrutiny from regulators, especially since bankruptcies at major crypto firms in 2022 spooked investors, exposed fraud and misconduct, and left millions of investors out of pocket.

Trump touted crypto as important and stressed that he was very supportive of the sector, said Republican National Committeewoman Harmeet Dhillon.

Dhillon said Trump, who is running to unseat Democratic incumbent Joe Biden in a November 5 election, did not offer specifics on his proposed crypto policy.

Advertisement

Biden signed an executive order in 2022 aimed at ensuring the responsible development of digital assets, which led to reports urging regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission to issue guidance and rules to address risks in the crypto ecosystem.

The White House under Biden has also said that it is eager to work with Congress to develop a regulatory framework for cryptocurrencies.

In a statement to Reuters, White House spokesperson Robyn Patterson said the Biden administration had supported innovation in digital assets while seeking to protect consumers from “risks associated with new technologies.”

While San Francisco is heavily liberal, a growing number of high-profile local venture capitalists and crypto investors have thrown their support behind Trump, with several citing what they deemed excessive regulation among their reasons.

“President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration,” said Jacob Helberg, an adviser to data analytics provider Palantir, referring to SEC Chair Gary Gensler.

Executives from crypto exchange Coinbase, crypto investor twins Tyler and Cameron Winklevoss and other crypto leaders attended on Thursday, Dhillon added.

A spokesperson for Gemini, the company founded by the Winklevoss twins, did not immediately comment.

Sacks and Palihapitiya have talked publicly about their investments in crypto, especially in bitcoin.

The founder of the now-bankrupt FTX cryptocurrency exchange, Sam Bankman-Fried, was found guilty last year of stealing from customers. Prosecutors allege he used those funds to donate more than US$100 million to US political campaigns. ― Reuters

These were the details of the news Trump pitches himself as 'crypto president' at San Francisco tech fundraiser for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Malay Mail and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV The US economy is solid: Why are voters gloomy?
NEXT What to expect from Nato’s new chief Mark Rutte? Don’t expect a revolution, just steady leadership in turbulent times

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]