Trump Breaks New Ground: First Major Candidate to Accept Shiba Inu and Other Cryptocurrency Donations

May 22, 2024

Donald Trump has made history as the first major party U.S. presidential candidate to accept campaign donations in various cryptocurrencies, including Shiba Inu.

This unprecedented move marks a significant development in political fundraising, showcasing the growing integration of digital assets in mainstream politics, setting a new precedent in political fundraising.

Trump’s presidential campaign on Tuesday announced it will start accepting crypto donations, making good on the presumptive Republican nominee’s pledge to become the first major party candidate to embrace Bitcoin, Ether, Shiba Inu and other cryptocurrencies. 

“Demonstrating President Trump’s success as a champion of American freedom and innovation, we proudly offer you a chance to contribute to the campaign with cryptocurrency. Saving our nation from Biden’s failures requires your support. As Biden piles regulations and red tape on all of us, President Trump stands ready to embrace new technologies that will Make America Great Again,” a statement on Trump’s campaign website said.

The move comes weeks after the former president declared himself crypto’s candidate at a Mar-a-Lago gala that thrust cryptocurrency into the 2024 campaign. At the said NFT event at Mar-a-Lago, Trump expressed his support for cryptocurrency, contrasting his stance with that of the Democrats. 

“The Democrats are very much against [crypto]. And I say this, a lot of people are very much for it … and I’m fine with it. I want to make sure it’s good and solid … but I’m good with it. If you like crypto in any form, and it comes in a lot of different forms, you better vote for Trump,” he told his supporters.

Trump has reportedly been collaborating with Bitcoin Magazine CEO David Bailey on a groundbreaking policy initiative that would impact cryptocurrency from day one of his potential presidency. 

“For the past month, we have been working with the Trump campaign to develop their Bitcoin and crypto policy agenda. We proposed a comprehensive executive order for President Trump to sign on day one. I will be sharing those details soon. This week Trump took the first step, but there is much work to do. We intend to raise a $100 million war chest for the campaign to ensure the next President of the United States is pro-Bitcoin. If you can help, please reach out,” Bailey said in a post on X.

As the 2024 U.S. elections approach, the Democratic Party has notably shifted its stance on cryptocurrency. Once staunchly anti-crypto, the party has now adopted a more favorable position, driven by political pressures and the influential endorsement of digital currencies by former President Donald Trump. 

This strategic pivot aims to attract the increasing number of crypto-enthusiastic voters. Adding to the momentum, the recent passage of the ‘Deploying American Blockchains Act of 2023’ in the House has intensified speculation about the future landscape of crypto regulation in the U.S., signaling a potential transformation in how digital assets are governed.

Following this bullish news, Shiba Inu (SHIB) traded at $0.00002575, marking a 0.68% price increase in the past 24 hours. The 24-hour trading volume surged by 77.88% to $1,141,633,302. As of 6:30 p.m. ET on Tuesday, SHIB’s total market cap stood at $15,170,778,971, with a circulating supply of 589,271,884,907,993 SHIB, according to data from CoinMarketCap.

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice.
The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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