The Trump campaign announced Tuesday that it would begin accepting cryptocurrency donations, marking the first time a major party presidential candidate has done so.
This decision is in line with Trump's broader agenda, which the campaign described as valuing “freedom over socialist government control.”
Trump campaign promises to build a 'crypto army'
According to a press release from the campaign, Trump supporters can now donate using “any cryptocurrency accepted through the Coinbase Commerce product.” The bell crypto” data-wpel-link=”external” target=”_blank”>sure that all cryptocurrency contributions would comply with Federal Election Commission regulations, including contribution limits and disclosure requirements.
The campaign referenced Senator Elizabeth Warren, President Joe Biden's replacement, who has openly expressed her opposition to cryptocurrencies. In a re-election ad published in x in March 2023, Warren x.com/ewarren/status/1641138829162577928″ data-wpel-link=”external” target=”_blank”>declared was building an “anti-cryptocurrency army” to restrict Americans' financial options.
In response, the Trump campaign stated: “MAGA supporters, now with a new cryptocurrency option, will build a cryptocurrency army that will lead the campaign to victory on November 5th!”
Weeks ago, at a Mar-a-Lago gala, Trump declared himself a “cryptocurrency candidate,” placing digital currencies in the spotlight for the 2024 campaign.
In December 2022, Trump sold a limited run of nft trading cards that could be purchased with cryptocurrency. Earlier this month, he hosted a lavish dinner for his nft backers at his Mar-a-Lago club, where he reinforced his pro-cryptocurrency stance.
“If you're pro-cryptocurrency, you're going to vote for Trump because they want to kill it,” he said at the event, referring to the Democratic Party and President Joe Biden. Trump also pledged to ensure that his campaign could accept crypto donations.
TRUMP token surges 14% as top sellers make profits
According to Nansen, the price of the TRUMP token increased by 14% following the announcement that Donald Trump's campaign would now accept cryptocurrency donations.
In a thread posted on obtain significant profits.
<blockquote class="twitter-tweet”>
But how do TRUMP's top 10 chain sellers compare?
Well, if we look at the top management, they are crushing it.
They bought TRUMP early and have been making spike profits, with over 1,600% in unrealized gains. pic.twitter.com/l18iUe6xh8
—Nansen (@nansen_ai) twitter.com/nansen_ai/status/1793037065870823929?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>May 21, 2024
Meanwhile, TRUMP's top chain sellers were found to be very successful. Leading management, who bought TRUMP early, has been taking profits at market peaks, with over 1,600% in unrealized profits.
This trend, with TRUMP's price rising more than 60% in the last month, indicated that these sellers were gradually taking profits to reduce their exposure. Many of these addresses were observed to increase over 1000% in unrealized profits.
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