The Trump-crypto love story may not be happily ever after
CNN
Donald Trump didn’t need to do much to win over crypto investors, who are used to being treated like the problem children of the financial world. They’re tinkering in the shadows, doing a thing most normies either don’t understand and/or believe is a scam.
Donald Trump didn’t need to do much to win over crypto investors, who are used to being treated like the problem children of the financial world. They’re tinkering in the shadows, doing a thing most normies either don’t understand and/or believe is a scam. In recent months, the bitcoin crowd has warmed to the former president and Republican nominee, who in turn has warmed to the idea of Big Tech and crypto profits flowing into political action committees that support his reelection. “Bitcoiners are looking for political validation after years in the wilderness,” said Eric Soufer, a political adviser to major crypto companies. “They believe now is their moment, and it’s hard to resist someone who is telling them everything they want to hear.” Trump is expected to do just that on Saturday, when he gives the keynote speech at Bitcoin 2024, billed as the largest crypto gathering in the US, in Nashville. And while Trump has locked in support from a handful of deep-pocketed Silicon Valley bigwigs like Marc Andreessen and the Winklevoss twins, his claim to be the “crypto candidate” may be a harder sell now than it was even just a week ago. Running against President Joe Biden, Trump only needed to nod in the direction of crypto-friendly policies to get the attention of an industry that is exhausted from battling Biden’s top market regulator, Securities and Exchange Commission chief Gary Gensler, who is, to put it mildly, not a fan.
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