Cardano

United

Biden

Orbs

Donald Trump

<div class="finbold">
 <p class="paragraph">After former United States president Donald Trump made cryptocurrencies one of the focal points of his campaign, it seems that his rival in the presidential race, Joe Biden, has made a surprising turn in tone toward the crypto industry as his team reached out to the community on policy formulation.</p>
 <p class="paragraph">As it happens, President Biden’s re-election campaign team has started approaching key <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry participants in the last two weeks, apparently seeking insights and advice on “<a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community and policy moving forward,” according to the report by <em>The Block </em>on May 29.</p>
 <p class="paragraph">Indeed, as several sources with direct knowledge on the matter told the media outlet on the condition of anonymity, the Biden team has been conducting key discussions with multiple crypto experts, including some that the incumbent president had previously dismissed.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Massive 2.9 billion ADA purchase creates barrier for Cardano price <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is the first female Senator from Minnesota: Amy Klobuchar's net worth revealed <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Orbs unveils Perpetual Hub, a new solution for onchain futures trading <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin flashes strongest signal for parabolic rally; Is $100k next? <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-why-the-sudden-shift">Why the sudden shift?</h2>
 <p class="paragraph">Explaining the motives behind such a massive shift in sentiment, the sources said that the administration has begun to recognize the impact that crypto-related issues could have on the presidential race that might be narrow, with one source in Trump’s camp pointing out that:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“They have very smart and capable people advising on that front, and you’ve seen some of the results of that and will see more in the coming months.”</p>
 </blockquote>
 <p class="paragraph">And while there is optimism among many in the sector regarding this pro-crypto shift, some of the participants who have been involved in discussions with the Biden campaign have reportedly expressed skepticism, arguing that the team’s recent crypto-positive actions are “too little, too late.”</p>
 <p class="paragraph">Notably, the current US president has earlier received heavy criticism from the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> community due to his administration’s announcement that he would veto the legislation enabling highly regulated financial firms to act as custodians for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets, claiming that:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“[It] would disrupt the [SEC’s] work to protect&nbsp;investors&nbsp;in <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-asset markets and to safeguard the broader financial system [and] would invalidate SEC Staff Accounting Bulletin 121 (SAB 121), which reflects considered SEC staff views regarding the accounting obligations of certain firms that safeguard <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>-assets.”</p>
 </blockquote>
 <h2 class="wp-block-heading" id="h-trump-s-crypto-stance">Trump’s crypto stance</h2>
 <p class="paragraph">On the other hand, Trump has expressed support for the crypto sector, arguing his opponent didn’t understand it but that he himself was “fine with it,” and recently started accepting donations for his campaign in the form of crypto assets, sending the Biden campaign in panic mode.</p>
 <p class="paragraph">Furthermore, the former US president also shared his views on the social media platform <em>Truth Social,</em> where he stated that America “must be the leader in the field, there is no second place,” once again voicing his support for the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry and <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> companies in the country.&nbsp;</p>
 <p class="paragraph">Additionally, Trump has also been trading <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, with his holdings recently surpassing $10 million, largely due to the impressive performance of the MAGA memecoin, TRUMP, which the presidential hopeful currently owns about $7.3 million, as Finbold reported on May 27.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/biden-s-surprising-crypto-shift-a-secret-weapon-against-trump-in-2024-tbt90513.html">https://thebittimes.com/biden-s-surprising-crypto-shift-a-secret-weapon-against-trump-in-2024-tbt90513.html</a></p>

Biden’s surprising crypto shift: A secret weapon against Trump in 2024?

Table of Contents

TheBitTimes

Other articles published on May 30, 2024

Chiliz Cryptocurrency CHZ Sees Major Rise

Bitcoin Exchange OKX Announced That It Will Include a New Project on Its Mining Platform!

Authorities Target Cryptocurrency Fraud

Israeli Government Accelerates Development of Digital Shekel with Innovative ‘Digital Shekel Chal...

Dogwifhat (WIF) Price Increases by 27% in a Week

Looking to Invest? Unlock gateway to financial prosperity with Qubetics Whitelist vs Solana and AAVE

Join our free newsletter for daily crypto updates!