Former President Trump and Republicans support cryptocurrency at Bitcoin 2024 conference, potentially positive for market.

From Investing.com

July 25, 2024 12:16:28 pm:

Former President Trump, once critical of cryptocurrency, will headline a major industry conference in Nashville. Pro-crypto politicians like Senator Cynthia Lummis and Representative Ro Khanna will also speak. The industry rebounded after FTX’s collapse in 2022. Stand With Crypto has 1.3M advocates, and pro-crypto super PACs have raised $230M.

Trump attended Bitcoin 2024 after criticizing Democrats’ crypto regulation efforts. He met bitcoin miners at Mar-a-Lago and supports U.S. bitcoin mining expansion. Crypto firms like Coinbase and Binance are disputing SEC allegations. The White House is working on crypto safeguards, with potential implications for a Harris presidency.

Traders anticipate a favorable market under a potential second Trump term, with a focus on crypto assets. Attendees like Hillary Adler, a former Democratic voter, acknowledge Republican support for crypto. The GOP’s pivot towards the industry reflects their strategic political approach. Crypto remains a key interest for decision-making in the current political landscape.

Read more at Investing.com: Trump, Republicans court crypto votes and dollars at ‘Bitcoin 2024’ conference By Reuters