Joe Biden

Silk Road

Donald Trump

Donald Trump’s potential victory in the November elections could see several Securities and Exchange Commission crypto lawsuits dismissed, according to a crypto lawyer — but others note he has a history of not keeping promises.
“I wouldn’t settle any crypto case with the current SEC before seeing how the election turns out,” crypto <a href="https://cointelegraph.com/magazine/coinbase-sec-lawsuit-bitcoin-mining-metalawman-x-hall-of-flame/">lawyer James Murphy</a>, known as “MetaLawMan,” wrote in a May 26 X <a href="https://x.com/MetaLawMan/status/1794771517382791217" target="_blank" rel="noopener nofollow">post</a>.
Murphy expects “a very different SEC” given Trump’s recent crypto promises.
In the past month, Trump has pitched himself as the crypto industry’s choice, <a href="https://cointelegraph.com/news/3-memorable-moments-from-trump-nft-dinner">saying he’s</a> “fine with” crypto, that <a href="https://cointelegraph.com/news/donald-trump-president-campaign-cryptocurrency-adoption-global">the United States</a> “must be the leader in the field,” and recently <a href="https://cointelegraph.com/news/donald-trump-ross-ulbricht-silk-road">promised to commute</a> Silk Road founder Ross Ulbricht’s life sentence if elected. 
“I could imagine voluntary dismissals of crypto cases the [SEC Chair] Gary Gensler regime has initiated where there was no fraud and no victims,” Murphy added.
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-05/e96281e0-4559-4bd2-986b-97aa009417ef.png">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/MetaLawMan/status/1794771517382791217" target="_blank" rel="noopener nofollow">James Murphy</a>
 </figcaption>
</figure>
In a contrarian X <a href="https://x.com/adamscochran/status/1794701039460835431" target="_blank" rel="noopener nofollow">post</a>, Cinneamhain Ventures partner Adam Cochran claimed Trump “has a decades-long history of back peddling” and “selling out others for his own interests.”
“Just like Biden, Trump was previously anti-crypto and is pandering to get votes,” he added.
Two Prime hedge fund partner Alexander Blume made a similar argument, <a href="https://x.com/alexandersblume/status/1794505938881151067" target="_blank" rel="noopener nofollow">commenting</a> that Trump “has a track record of making promises to desperate people/groups for his own ends and then not honoring those promises.”
Analysis from the fact-checking site PolitiFact <a href="https://www.politifact.com/truth-o-meter/promises/trumpometer/" target="_blank" rel="noopener nofollow">claims</a> Trump broke over half of the 102 promises made during his 2016 presidential campaign, compromised on 23 and kept 24.
Trump has a history of anti-crypto remarks, too.
As president, <a href="https://cointelegraph.com/news/president-donald-trump-tweets-opposition-to-cryptocurrencies">Trump tweeted</a> he was “not a fan of Bitcoin and other cryptocurrencies” as they are “based on thin air.” In 2021 he <a href="https://cointelegraph.com/news/2024-us-presidential-candidates-crypto-stance">also claimed crypto</a> “may be fake” and is “a disaster waiting to happen.”
Crypto lawyer Gabriel Shapiro, however,&nbsp;<a href="https://x.com/lex_node/status/1794783879666225559" target="_blank" rel="noopener nofollow">wrote</a> on X that “Trump saying some mean words about crypto on Twitter” can’t be compared to “the four-year witch hunt the Biden admin has waged on crypto.”
Related: <a href="https://cointelegraph.com/news/trump-crypto-bitcoin-us-election">Does Trump care about crypto? Bitcoin is latest battleground in US election</a>
Trumps past crypto remarks and election promises record won’t be enough to sway some crypto U.S. industry executives.
Crypto outlet The Block founder turned venture capitalist Mike Dudas <a href="https://x.com/mdudas/status/1794504582720065880" target="_blank" rel="noopener nofollow">said</a> while he dislikes Trump “on like 1,000 different levels,” his promises mean “he’s going to allow me to pursue my livelihood and provide for my family, investors, founders and their employees.”
Trump has a one percentage point lead over President Joe Biden in Morning Consult’s 2024 presidential election <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling" target="_blank" rel="noopener nofollow">polling</a>.
The U.S. will head to the polls on Nov. 5.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-regulations-us-warren-bitcoin/">Lawmakers’ fear and doubt drives proposed crypto regulations in US</a>

Could Trump’s win nix SEC crypto suits? Critics say he’s ‘pandering’ for votes

Cointelegraph

Other articles published on May 27, 2024

ETH team lead says most ETH clients ‘very aggressively’ delete old data

'1 Nakamoto of BTC': Michael Saylor Notes Major Bitcoin ETF Milestone

Caitlyn Jenner’s X Account Sparks Hack Concerns After It Promotes New Meme Coin Launched On Pump.fun

🚀 Top 5 Cryptos Ready to Surge 50X This Summer!

Ethereum Price Hits $3,900. Will It Reach $4,500 Before ETFs?

Dogeverse and Sloth Investors are Going Gaga Over MoonBag, the Top Crypto Presale

Join our free newsletter for daily crypto updates!