Regulation
Cryptocurrency Entrepreneur Reveals He Donated Bitcoin to Donald Trump
American businessman Gary Cardone has donated 12.8 Bitcoin (BTC) to Donald Trump’s presidential campaign ahead of the US elections. He expressed his commitment to the BTC strategy, hinting at freedom amid growing adoption. This follows similar actions by other cryptocurrency and technology executives seeking to promote industry-friendly regulations.
Gary Cardone Donates Bitcoin to Donald Trump
Gary Cardone revealed his donation to the Trump campaign following the 2024 Bitcoin conference, which sparked bullish sentiment with industry leaders and lawmakers signing on. Cardone donated 12.8 BTC worth over $850,000, highlighting the lifeline of the current system.
““I am proud of my 12.8 BTC donation to the Trump administration, something I have NEVER done. But for Bitcoin, I will die thinking that this is the most important moment in world history providing freedom, peace, and the ability to get off the endless escalator needed to overcome the loss of power and value caused by the current system.”
According to Cardone, Trump is one of the most spectacular disruptors, like all Bitcoiners, amid regulatory pushback, among other things. Meanwhile, Bitcoin enthusiast David Bailey noted that
Donald Trump raised $25 million in Nashville, making it the former president’s second-largest fundraiser in three campaigns.
The run-up to the election also saw increased activity by lobbyists and cryptocurrency industry executives to position the market toward clear rules. As a result, the broader market began sponsoring pro-crypto legislators and executives to pave the way for the industry.
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Cryptocurrency regulation is getting closer
For much of the current administration, cryptocurrency industry leaders have criticized regulators’ approach as a bottleneck scenario in which innovation cannot thrive. Additionally, unclear rules and Congress’s failure to pass market-related laws have led to frequent lawsuits from the Securities and Exchange Commission (
SECOND).
This status quo is expected to change as cryptocurrencies become mainstream ahead of the election, with candidates moving toward the sector. Recently, pro-cryptocurrency bills have also been introduced in Congress.
Read also : Custodia Bank Highlights Transfer of Bitcoin Custody to US Banks
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for breaking news. Staying abreast of trends, David has reported on several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Outside of financial markets, David enjoys cycling and horse riding.