Donald Trump is emerging as the candidate favored by influential figures in the cryptocurrency and traditional finance (TradFi) industries. The latest high-profile endorsement comes from Ark Invest CEO Cathie Wood, who stated that she will vote for the candidate who will best manage the economy in the 2024 presidential elections.
Wood’s endorsement further solidifies Trump’s image as a candidate who supports economic growth and business, as Bitfinex Analysts revealed in an exclusive interview with Cointelegraph.
In addition to Wood’s support, Gemini co-founders Cameron and Tyler Winklevoss have pledged $1 million in Bitcoin (BTC) each for Trump’s reelection campaign. The Winklevoss twins expressed their intention to vote for Trump, emphasizing his pro-Bitcoin and pro-crypto stance, while criticizing President Joe Biden’s approach to the cryptocurrency industry.
However, part of the Winklevoss twins’ Bitcoin donation was returned due to exceeding the maximum amount allowed by federal law. It remains unclear whether the returned amount was in Bitcoin or converted to its equivalent value in cash by the Trump 47 Committee.
Trump’s decision to accept cryptocurrency donations for his 2024 presidential campaign signals a potential shift towards a more favorable stance on digital assets. This shift could lead to more innovation-friendly policies and regulations for the crypto industry in the United States, as suggested by Bitfinex analysts.
Despite the regulatory implications of the elections, Jason Allegrante, the chief legal and compliance officer of Fireblocks, emphasized that blockchain technology transcends political parties and is not confined to a specific political agenda.
As the 2024 election approaches, the influence of crypto voters is expected to continue shaping the political landscape and potentially drive a more innovation-friendly environment for the crypto industry in the United States.