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Trump Vows to Defend Crypto Rights and Oppose CBDC

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In a bold stateme­nt that has electrified the­ cryptocurrency community, former Preside­nt Donald Trump declared his unwavering support for the­ burgeoning digital currency sector in the­ United States. Speaking at a rally, Trump e­mphasized the critical role the­ US must play in shaping the future of Bitcoin and other crypto curre­ncies.

“The future of Bitcoin and the entire crypto industry will be made in the USA,” Trump proclaimed to a cheering crowd. “I will support the right of self-custody for the nation’s 50 million crypto owners. They deserve the freedom to control their digital assets without unnecessary government interference.”

Trump’s remarks come at a time when the cryptocurrency market is under intense scrutiny from various regulatory bodies. He took the opportunity to criticize Senator Elizabeth Warren, a known advocate for stricter crypto regulations. “I will keep Elizabeth Warren away from Bitcoin,” Trump asserted. “Her policies threaten to stifle innovation and drive this vital industry overseas.”

Trump’s Renewed Crypto Commitment

Trump’s rene­wed support for digital currencies marks a significant departure­ from his 2019 stance when he criticize­d Bitcoin and other virtual currencies on Twitte­r. Since then, Trump has shown increasing support for the­ sector. He has launched thre­e non-fungible token (NFT) colle­ctions and is the first major party nominee to acce­pt campaign donations from digital assets.

Trump’s former administration oversaw the­ approval of bitcoin exchange-traded funds (ETFs), which forme­r CFTC Chairman Chris Giancarlo cites as evidence­ of Trump’s potential as a “crypto president.” Re­cently, Trump has also raised the issue­ of Biden’s limited understanding of digital assets and calle­d on digital assets supporters to vote for him.

During his addre­ss at the convention, Trump reite­rated his plan to protect free­ speech and dismantle what he­ called the “censorship and industrial comple­x.” He promised, “On day one, I will sign an e­xecutive order banning fe­deral agencies from colluding to ce­nsor the lawful speech of Ame­rican citizens. We will remove­ the rogue bureaucrats who conspire­ to take away your First Amendment fre­edoms. We will do that quickly.”

Related Reading | BlockDAG’s Miner Sales Drive Presale Past $32.8M Amidst Arbitrum Surge and FET Price Recovery

Trump Accepts Shiba Inu and More for Donations

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Former US President Donald Trump is now accepting Shiba Inu for his campaign donations. Besides SHIB, the Trump campaign also accepts Bitcoin, Ethereum, Dogecoin, Solana, and XRP. In his “Make America Great Again” campaign, the presidential candidate presents himself as the defender of American freedom and innovation prepared to welcome new technologies.

There were speculations surrounding Trump’s investment, considering his past criticism of digital assets. Only after a recent tax filing on April 14 revealed that Trump is a significant cryptocurrency holder, owning $250,000–$500,000 worth of crypto assets, largely derived from licensing fees tied to the use of his image in popular NFTs.

That being said, Trump’s acceptance of SHIB boosts the coin’s visibility and legitimacy, as this news would attract massive media attention, potentially attracting new investors and users. Most importantly, SHIB’s addition would likely increase the number of transactions, highlighting practical use cases and functionality.

Meanwhile, the meme coin has gained massive traction, as evidenced by the surge of non-zero Shiba Inu wallets in less than a week. 

Shiba Inu Wallets at All-Time High

Data from Glassnode indicated that on May 15, the number of Shiba Inu holders exceeded 1.4 million, reaching a new peak, before retracting at the time of publication. While wallet addresses with non-zero balances were not at their peak, current figures indicate that the SHIB Army grew by nearly 100,000 in a year. It is worth noting that the Shiba Inu Army consisted of approximately 1.29 million members last year.

Shiba Inu
Trump Accepts Shiba Inu and More for Donations 2

Price-wise, the leading meme coin displayed signs of a pattern called a “bull flag.” This suggests a promising trend for SHIB, indicating a potential price increase. Following a brief price surge, the meme coin is poised to continue its impressive upward trend, which has already seen a whopping 210% rise, per market experts. Digging deeper: SHIB currently aims for a target price of $0.000081. It will represent more than a threefold increase from its current price if it reaches this point.

Trump Pledges Crypto Campaign Donations Amid NFT Dinner Discourse

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Former U.S. President Donald Trump has once again stirred the political pot, this time dipping his toes into the volatile waters of cryptocurrency. In a series of video clips shared by Frank Degods, a prominent non-fungible token (NFT) creator, Trump asserted his intention to embrace digital assets for campaign donations.

Addressing a gathering of buyers of his “Mugshot Edition” NFTs, Trump confidently declared, “If you can’t, I’ll make sure you can,” indicating his resolve to facilitate crypto contributions to his campaign. Seizing the opportunity to take a jab at his successor, Trump remarked that President Joe Biden is oblivious to the world of digital assets, positioning himself as the champion of the crypto community.

Trump’s pronouncement came during an informal dinner with individuals who had individually purchased over 47 NFTs, each priced at $99, as reported by Axios. Reflecting on his NFT venture, Trump boasted, “We made NFTs hot again.”

Trump’s Reassurance Sparks Crypto Market Surge

The ex-president didn’t stop at campaign finance; he also pledged to support the digital asset industry’s presence within the U.S., vowing to prevent its exodus due to perceived hostility. Trump’s reassurance caused ripples in the market, notably boosting the “Jeo Boden” meme coin by 18.5% within 24 hours, according to CoinMarketCap data.

Despite Trump’s sudden embrace of crypto, skeptics remain cautious. Trump dismissed the meteoric rise of the BODEN token, expressing disdain for the sizable market capitalization it had accrued.

Observers like Avichal Garg applauded Trump’s evolution on the crypto front, attributing it to savvy coaching. Garg warned of potential consequences for the Democrats, suggesting that their anti-crypto stance could alienate a growing constituency.

With Trump eyeing a return to the White House as the Republican nominee for the 2024 presidential election, his foray into the crypto sphere adds a new dimension to an already contentious political landscape. The Trump campaign, however, remained tight-lipped in response to inquiries, leaving many to speculate on the implications of this latest move.

‘Boden’ Memecoin Sees 25% Surge After Trump’s Remark

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In a surprising turn of eve­nts, the ‘Boden’ meme­coin has experience­d a meteoric surge in value­ after a recent comme­nt by former President Donald Trump. The­ cryptocurrency, which takes its name from a misspe­lling of current U.S. President Joe­ Biden’s name, has proven to be­ a peculiar addition to the eve­r-evolving crypto landscape.

On May 8th, 2024, during the Trump Cards NFT Gala at his Mar-a-Lago re­sort in Florida, Trump was faced with a question from an attende­e about the ‘Boden’ me­mecoin. The former pre­sident’s response, while­ not entirely enthusiastic, has none­theless had a significant impact on the toke­n’s performance.

“I don’t like that inve­stment,” Trump stated when the­ attendee me­ntioned the coin’s $240 million market capitalization. Howe­ver, his acknowledgement of the­ cryptocurrency’s existence­ seems to have be­en enough to ignite a fre­nzy among investors.

Following Trump’s comment, the ‘Bode­n’ memecoin expe­rienced a surge of up to 25%, re­aching a peak price of $0.42 on the same­ day. While the token’s value­ has since fluctuated, it is now trading at around $0.31, repre­senting a 4% increase from be­fore Trump’s remark.

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CoinGecko

Trump’s Impact on Boden Memecoin Hype

The une­xpected publicity gene­rated by Trump’s comment has not gone unnotice­d by crypto enthusiasts. Many have seize­d the opportunity to capitalize on the me­mecoin’s newfound popularity, with some spe­culating that the former preside­nt’s perceived influe­nce in the crypto space may continue­ to drive the ‘Boden’ toke­n’s valuation.

“Any publicity is good publicity, especially when it come­s from a figure as prominent as Donald Trump,” said cryptocurrency analyst Samantha Wilkins. “The­ ‘Boden’ memecoin has prove­n to be a surprisingly resilient and opportunistic inve­stment, and Trump’s comment has only added to the­ hype surrounding it.”

The Polymarket pre­diction market has also been monitoring the­ situation, with a contract reflecting the like­lihood of Trump mentioning the ‘Boden’ coin be­fore July. Despite the­ former president’s luke­warm response, the contract’s “ye­s” shares were trading at $0.05, sugge­sting a 5% probability that he will utter the word “Bode­n” in the coming months.

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Trump Seizes Bitcoin Moment, Vowing To Stop “Digital Dollar Danger”

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Former President Donald Trump recently inserted himself into the debate around central bank digital currencies (CBDCs) and cryptocurrencies like Bitcoin. At a campaign event last week, Trump promised supporters he would “never allow the creation of a central bank digital currency” if elected in 2024. He characterized a potential “digital dollar” as a “dangerous threat to freedom” that he would block.

According to Trump’s sudden anti-digital dollar stance, a CBDC would essentially be a form of digital cash, like a virtual dollar, created and backed by the Federal Reserve. Proponents argue a CBDC could enable more efficient stimulus programs and money transfers. However, critics counter that it would also allow far-reaching government control over how average Americans spend their money.

China’s CBDC experiment reveals the more dystopian possibilities of a centrally controlled digital currency. Chinese authorities are already exploring how to manipulate expirations, restrictions, and linkages to social credit scores. To many, CDBC risks enabling an unacceptable level of federal control over personal finances and freedom. Trump aims to speak to Americans who share these privacy and freedom concerns across party lines.

Bitcoin – The Anti-CBDC

In vowing to stop CBDCs, Trump taps into a deep well of political support. But an even bigger opportunity lies in embracing Bitcoin. Bitcoin represents decentralized, censorship-resistant money outside of government control. Growing masses are awakening to Bitcoin as the high-tech countermeasure to centralized digital currencies like CBDCs.

In 2020, few voters prioritized crypto policy positions. But the landscape evolved radically over two years. Today, over 50 million Americans own crypto assets like Bitcoin. These owners span age, ethnicity, and politics. They represent a formidable new voting bloc. Recent polls reveal that up to 18% of voters in battleground states like New Hampshire and Pennsylvania own crypto.

Over half say they would oppose candidates impeding crypto innovation. Crypto PACs now wield tens of millions in financial firepower as well. Trump himself recently tapped into crypto enthusiasm by launching a lucrative NFT collection. Further embracing Bitcoin would cement his anti-CBDC position. It would also unlock millions of passionate new voters and flush PAC funding.

Related Reading | Google To Greenlight Bitcoin ETF Ads Amid Policy Update: Report

Trump’s Mugshots Spark Frenzy on Bitcoin Ordinals

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In a bold move that merges politics with the booming world of non-fungible tokens [NFTs], former U.S. President Donald Trump has announced the launch of digital collectible cards on the Bitcoin Ordinals platform. These unique cards are set to feature Trump’s iconic mugshots, capitalizing on the growing trend of NFTs in the crypto space.

The announcement specifies that users utilizing Wrapped Ether [WETH] to acquire 100 Mugshot NFTs on the platform will receive exclusive 1/1 Trump digital collectible cards on Bitcoin Ordinals. This special offer translates to a total issuance of 200 cards for those who engage in the specified transaction. Over the past seven days, the value of the Digital Collectible Card has surged by an impressive 93%, reaching a price point of over 0.3 ETH.

Trump
Trump's Mugshots Spark Frenzy on Bitcoin Ordinals 5

Trump’s foray into the NFT space includes the recent unveiling of his third installment, aptly named the “Mugshot NFT Edition.” Priced at $99 per digital collectible, each card holds unique value for its owner. To add an extra layer of exclusivity, the team has introduced a chance for the holders of 47 Mugshot NFT cards to win a dinner with the former president at his lavish Mar-a-Lago estate. Additionally, these fortunate winners will receive a fragment of the navy suit worn by Trump during his arrest in August—an event that marked a historic moment as the first time a former U.S. president had a mugshot taken.

Trump Opposes CBDC

Beyond the realm of NFTs, Trump has recently made headlines for his stance on central bank digital currencies [CBDCs]. During a campaign stop in New Hampshire, he vehemently expressed his opposition, pledging to prevent the creation of a CBDC if he were to be re-elected as president.

“As your president, I will never allow the creation of a central bank digital currency,” Trump declared on stage, standing alongside crypto-friendly ex-candidate Vivek Ramaswamy. Trump argued that the introduction of a CBDC would pose a serious threat to individual freedoms, as it would grant the federal government absolute control over individuals’ money.

The topic of CBDCs has gained considerable traction within Florida Governor Ron DeSantis’ office. The convergence of politics, digital collectibles, and cryptocurrency continues to reshape the landscape of political engagement and fundraising.

Ethereum Exit: Trump’s Team Sells 1,075 ETH For $2.4M

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Former US President Trump’s team is reportedly dumping Ethereum. According to the data analytics platform Arkham [ARKM], there has been a notable shift in the cryptocurrency portfolio of Trump’s group. The team, which had been accumulating royalties from the controversial Trump NFT collections over the past few months, is now divesting from Ethereum. Arkham reported that the team initiated the process of sending ETH to the Coinbase exchange three weeks ago, with a maximum balance of $4 million. To date, the Trump team has sold 1,075 ETH, raking in $2.4 million from the liquidation.

The move to liquidate Ethereum holdings has sparked various speculations, ranging from concerns about Trump’s financial health to users suggesting that depositing in a centralized exchange (CEX) doesn’t necessarily indicate an outright sale. Some posit that the funds might simply be in transit to a private wallet.

Adding to the intrigue, former President Donald Trump recently unveiled his third installment of the “Mugshot NFT Edition,” each digital collectible priced at $99. What sets this offering apart is the chance for owners of 47 Mugshot NFT cards to win a dinner with the ex-president at his Mar-a-Lago estate. Additionally, they would receive a fragment of the navy suit worn by Trump during his arrest in August—a historic moment marking the first time a former US president had a mugshot taken.

Ethereum
Ethereum Exit: Trump's Team Sells 1,075 ETH For $2.4M 8

The origin of this NFT collection stems from Trump’s arrest on charges related to alleged interference in the 2020 presidential election in Georgia. The trading cards garnered a mixture of ridicule and amusement from both critics and fans, yet they were completely sold out in a mere 12 hours.

Trump’s Ethereum Stash

That being said, controversies surrounding Trump’s assets and finances persist, with a recent tax filing on April 14 indicating ownership of $250,000–$500,000 worth of Ether. Contrary to his past criticism of digital assets, it has now been revealed that Trump is a significant cryptocurrency holder, accumulating a substantial $2.8 million stash of Ether, largely derived from licensing fees tied to the use of his image in popular NFTs.

Ethereum
Ethereum Exit: Trump's Team Sells 1,075 ETH For $2.4M 9

Ethereum’s value remains stable, showing a 7% increase in the last 24 hours. As per Rekt Capital, there is a likelihood of ETH expanding by an additional +22% if it successfully reestablishes $2274 as a support level.

Donald Trump’s 3rd NFT Drop Comes With Exclusive Dinner Date

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Former President Donald Trump has recently unveiled his third installment of “Mugshot NFT Edition,” with each digital collectible priced at $99. This latest offering has garnered attention for its distinctive feature: owners of 47 Mugshot NFT cards stand a chance to win a dinner with the ex-president at his Mar-a-Lago estate, along with a fragment of the navy suit Trump wore during his August arrest, a historic moment as it marked the first time a former US president had a mugshot taken.

The genesis of this NFT collection lies in Trump’s arrest on charges related to his alleged interference in the 2020 presidential election in Georgia. Subsequently, he underwent standard processing at Fulton County Jail, known for its harsh conditions. The widely circulated mugshot captured during this event became a historic image, symbolizing an unprecedented moment in American political history.

Donald Trump
Donald Trump's 3rd NFT Drop Comes With Exclusive Dinner Date 11

Donald Trump’s latest venture has stirred discussions within the community, with some viewing it as a transformative moment. This set distinguishes itself from its predecessors by introducing a physical element to the otherwise digital realm. While this move by Trump is noteworthy, the linkage between NFTs and physical items is not groundbreaking.

Donald Trump’s “Phygital” Pivot

Over the past year, both digital fashion startups and established fashion houses have embraced the fusion of collectible NFTs with tangible products, coining the term “phygital” to describe this phenomenon. Major fashion brands like Louis Vuitton, Dior, Gucci, and Balmain have capitalized on phygital collections as a strategy to engage a broader audience, including those who may not fully appreciate purely digital items.

In adopting this approach, Donald Trump seems to be following in the footsteps of these fashion powerhouses, leveraging the latest technology to appeal to his fan base. However, the immediate aftermath of this announcement saw a significant downturn in the floor prices of Trump’s first two NFT trading card collections, plummeting by 30% and 41%, respectively, according to NFT Price Floor. The long-term success of this strategy remains uncertain, but for now, collaborations between NFTs and physical merchandise appear to resonate positively within the NFT market.

Donald Trump’s Mugshot NFT Rockets Sales Up by 163%

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This week, the media spotlight once again focused on the actions of Donald Trump, the former President. Today, Trump made a reentry into the public sphere by resuming activity on his past platform, X [referring to his former Twitter account]. What particularly intrigued internet users was his latest post on X. In this post, Trump shared his own mugshot and accompanied it with a statement regarding potential election interference.

As of the current moment, the tweet had accumulated about 77.1 million views, with roughly 807,000 likes, 207,000 shares, and 24.1K saved bookmarks. The photo of his arrest became public subsequent to his apprehension on August 24. Trump was arrested based on allegations related to his efforts to impact the outcome of the 2020 presidential election in Georgia. Following his detainment, he underwent standard processing procedures at Fulton County Jail, a facility notorious for its unfavorable conditions for inmates. Regarding the widely circulated mugshot of Donald Trump, Fulton County Sheriff Pat Labat commented, “Unless someone informs me otherwise, we are adhering to our usual protocols, so an individual’s status doesn’t affect our readiness to take a mugshot.”

Significant Jump: NFT Collection by Donald Trump Registers Major Increase

Following the former President’s discussion with media personality Tucker Carlson, there was a remarkable upswing in the value of his NFT collection. Surprisingly, within just a day, his NFT sales, the minimum price for listings, and the overall trading activity all underwent a substantial increase. It seems that the notable image of Donald Trump’s mugshot, mentioned earlier, played a significant role in driving this surge. As illustrated in the image provided above, there was a noteworthy 163% rise in Trump’s sales percentage, attributable to a total of 208 transactions.

Donald Trump
Donald Trump's Mugshot NFT Rockets Sales Up by 163% 13

Additionally, the trading volume and the lowest listed price for items within this collection experienced impressive growth, ascending by 222% and 63% respectively. Currently, the most affordable available price for items in this collection stands at 0.1928 ETH.

Trump’s Crypto Royalties Now On Arkham Intelligence

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These days cryptocurrency seems to be gaining a lot of traction among celebrities. Arkham Intelligence, a leading blockchain data firm, has revealed intriguing findings suggesting that former President Donald Trump may be the owner of a crypto wallet amassing substantial royalties from Non-Fungible Tokens (NFTs). The company’s recent announcement has stirred up discussions about the financial activities of the former president and his involvement in the NFT space.

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Source: X

According to an official statement released on Wednesday, Arkham Intelligence stated that they had reason to believe that the owner of a significant crypto wallet collecting royalties from Trump-associated NFT projects is indeed Donald Trump himself. The company’s claim was supported by a recent financial statement from August 14th, 2023, where Trump’s cryptocurrency balance was documented as $2,806,341. This amount closely mirrors the balance found in the largest royalty fee wallet linked to the Trump NFT project.

NFT Royalties Linked to Trump’s Crypto Wallet

Arkham’s revelation comes on the heels of earlier disclosures where Trump admitted to owning a cryptocurrency wallet valued at up to $5 million worth of ether. Financial disclosures published by Citizens for Responsibility and Ethics in Washington unveiled that $2.8 million in income was deposited into the wallet, and an additional $4.9 million was garnered from an NFT licensing deal with NFT INT LLC, the company behind the notable NFT drops that garnered substantial attention throughout the past year.

These figures significantly outweigh the previously reported $500,000 earnings, shedding light on the substantial financial success of the Trump-branded NFT project. The project, encompassing two separate NFT drops, has managed to sell tens of thousands of NFTs for $99 each. The first series alone has amassed over $26 million in trading volume, as confirmed by OpenSea data.

The identity of the project’s operator has been a subject of speculation since its initial launch. While the official NFT INT LLC website asserts that the project is not owned or controlled by Trump and is the outcome of a licensing deal permitting the use of his image, the corporate listing for NFT INT LLC reveals no direct connection to Trump. Instead, the company appears to be a shell corporation based in Delaware, albeit listing a Utah address.

Remarkably, it was revealed that Trump is listed as the manager, president, secretary, and treasurer of CIC Digital LLC, a company tied to the NFT project. This further adds weight to the speculation that the former president has more direct involvement in the project than initially indicated.

As Arkham Intelligence continues to track the blockchain activities and delve into the intricate web of ownership, the veil surrounding the identity behind the Trump-associated NFT project may soon be lifted, offering a comprehensive understanding of the former president’s foray into the burgeoning world of cryptocurrencies and NFTs.