Donald Trump began his presidential campaign by announcing the acceptance of donations through cryptocurrency with an aim to create a “crypto army” ahead of election day.
With this, Trump becomes the first major party candidate to accept crypto donations.
Notably, the move comes weeks after the former president declared himself crypto’s candidate at a Mar-a-Lago gala that thrust crypto into the 2024 campaign.
His campaign said in a statement that it will build a crypto army to combat the infamous “anti-crypto army” that Massachusetts Senator Elizabeth Warren has campaigned on.
With this move, the supporters of former President Donald Trump can donate using “any cryptocurrency accepted through the Coinbase Commerce product,” his campaign said in a press release.
“MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!” the campaign had said.
However, it is still not yet clear if the Trump campaign will retain the cryptocurrency or sell it immediately. Also, what fees it might incur during liquidation.
Donald Trump has yet to propose any concrete crypto policies. But the supporters are accepting the positive noises as enough.
“Contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations,” the Trump campaign said.
This is due to the fact that Joe Biden’s administration has taken a sharply anti-crypto stance in the past.
Notably, the Trump’s campaign is accepting a range of popular cryptocurrencies that include Bitcoin, Ether and US Dollar Coin, and also include the low-value coins that tend to be popular with Internet personalities like Shiba Inu Coin, and Dogecoin.