After the election, it is finally time for funders to reap the benefits. They hope that Trump will fulfill his promise to make the United States the "global cryptocurrency center."
This expectation alone has pushed the price of Bitcoin to more than $76,000. They believe that Trump is a man of his words. A few months ago, with Trump's help, a cryptocurrency company called World Liberty Financial obtained a license to operate. After Trump takes office, he can do more
US politicians bought by Bitcoin have taken over the entire Congress
The 2024 US presidential election has come to an end. Behind Trump's "quick victory", the latest developments in money politics have received widespread attention. Statistics show that in sync with Trump's victory in the presidency, 40 of the 58 congressmen funded by the cryptocurrency industry at a cost of $130 million were also declared elected. The FairShake cryptocurrency group has become the largest super political action committee (Super PAC) in the 2024 election, raising a total of more than 200 million. Some analysts pointed out that Trump, who has shown goodwill towards cryptocurrencies, has found new allies in Congress and the government. So, in this most "expensive" election, what exactly does the cryptocurrency field want to win?
Biden's questioning and restrictions on cryptocurrencies during his tenure have sparked strong dissatisfaction in the industry. In 2022, FTX, the world's third-largest cryptocurrency trading platform, collapsed, and its founder was sentenced to prison for multiple crimes, including abusing customer deposits for high-risk bets and illegal political donations. To combat fraud, the Biden administration has imposed taxes on cryptocurrency investment income, attempted to classify more digital tokens as securities, and initiated regulatory litigation through the U.S. Securities and Exchange Commission (SEC). In order to reshape the regulatory landscape, they approached Trump and 58 members of Congress.
Trump promised to protect crypto assets from over-regulation during his campaign, proposed an industry-friendly figure as SEC chairman, promoted Bitcoin as a "national strategic reserve," and declared that the United States would become a global cryptocurrency center. As soon as Trump won the election, the price of Bitcoin soared to an all-time high of more than $76,000. The political tacit understanding shown by members of Congress is even more intriguing. None of the campaign ads funded by Fairshake mentioned cryptocurrency, but many of the candidates who received the funding publicly stated that they would promote the development of cryptocurrency during their term and mentioned it in their 2025 plans, even though voters in the state did not care about cryptocurrency at all.
Many critics of the Democratic Party compare the risks posed by cryptocurrencies to the 2008 financial crisis. With the relaxation of regulations brought about by Trump's election, people are increasingly concerned about global financial stability. At the same time, cryptocurrencies are becoming "mainstream" around the world, so much so that some analysts believe that an "arms race" around digital currencies seems to have begun. If Trump fulfills his promise to support cryptocurrencies, the United States may accelerate the popularity of cryptocurrencies. #BTC冲破9万
