As announced on Trump’s official website, supporters can now contribute using traditional currencies or a variety of cryptocurrencies.
Donations are facilitated through Coinbase Wallet and MetaMask, and they support joint fundraising efforts by Trump’s campaign and the Republican National Committee (RNC).
The campaign website highlights this move as a testament to Trump’s commitment to American freedom and innovation:
“DEMONSTRATING PRESIDENT TRUMP’S SUCCESS AS A CHAMPION OF AMERICAN FREEDOM AND INNOVATION, WE ARE PROUD TO OFFER YOU THE OPPORTUNITY TO CONTRIBUTE TO THE CAMPAIGN WITH CRYPTOCURRENCIES.”
Earlier this month, Trump promised to accept cryptocurrency donations. His campaign stated this is the first time a major party presidential candidate has embraced cryptocurrency donations, and Trump aims to create a strong base of cryptocurrency supporters for the November 5 election.
Trump is not alone in this approach; Robert F. Kennedy Jr.’s campaign also began accepting Bitcoin donations in May. The use of cryptocurrencies in political campaigns dates back to 2016, when Senator Rand Paul accepted Bitcoin donations, followed by candidates Andrew Yang and Eric Swalwell in 2020.
Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), recently noted Trump’s significant impact on the cryptocurrency sector, calling him “the first American cryptocurrency president” due to his administration’s approval of bitcoin futures. Giancarlo emphasised the stability and valuation these futures brought to the crypto market and highlighted Trump’s evolving stance on cryptocurrencies, including his recent decision to accept them for campaign contributions. This positions Trump favourably towards cryptocurrencies compared to President Joe Biden.
