Biden’s Campaign Team Considers Accepting Crypto Donations to Build Trust: Report
The re-election team of US President Joe Biden is reportedly exploring the idea of accepting cryptocurrency donations for the upcoming election campaign. Sources close to the campaign team revealed that discussions are underway with crypto businesses to facilitate donations via Coinbase Commerce.
One insider working with politicians stated that the team aims to demonstrate that they are not adversaries of the crypto industry. They are actively engaging with crypto-related issues and seeking ways to show their support for the sector.
In a bid to keep up with his Republican counterpart, Biden’s campaign team recently appealed for financial assistance. A viral screenshot showcased the team cautioning supporters about the substantial donations received by Trump’s campaign.
Acknowledging that Trump’s campaign was surpassing his own in fundraising, Biden admitted the support from crypto executives. Advocates within Biden’s circle are urging the campaign team to prioritize understanding the crypto landscape, warning that neglecting this area could impact the election outcome. Despite being in the early stages of exploration, the possibility of accepting crypto donations is being seriously considered by Biden’s team.
On the other hand, Donald Trump, the likely Republican presidential nominee, has already embraced crypto donations through his fundraising page. Accepting various cryptocurrencies such as Bitcoin, Ether, Solana, Dogecoin, Shiba Inu, Ripple, USD Coin, and Ox, Trump has positioned himself as a proponent of the crypto industry. His recent pledge to be a “crypto president” at a fundraising event in San Francisco underscored his commitment to the sector.
Additionally, Trump made headlines by promising a presidential pardon to Ross Ulbricht, the founder of Silk Road, if he secures re-election. As the two candidates navigate the intersection of politics and cryptocurrency, the acceptance of crypto donations signals a shifting landscape in campaign financing strategies.
