2024 US elections: Donald Trump's campaign to begin accepting donations through cryptocurrency
Donald Trump's presidential campaign on Tuesday announced that it will start accepting donations through cryptocurrency, a digital asset that can be traded over the internet without relying on the global banking system. Trump campaign has already introduced a fundraising page that enables "any federally permissible donor" to contribute to its political committees using any crypto asset supported by the Coinbase cryptocurrency exchange, AP reported. Currently, Trump's campaign is accepting various popular cryptocurrencies including Bitcoin, Ether US Dollar Coin, and the low-value coins that tend to be popular with Internet personalities like Shiba Inu Coin, and Dogecoin.
Notably, billionaire Elon Musk is fan of the latter two coins, traded on markets as DOGE and SHIB. Its not yet clear if the Trump campaign will retain the cryptocurrency or sell it immediately, as well as what fees might be incurred during liquidation. Although the campaign intends to comply with US election laws, the anonymous nature of cryptocurrencies can complicate the verification of the source of the funds.
The former US President has already received millions in cryptocurrency personally through his Trump Digital Trading Cards non-fungible token projects and his MAGA coin released last August, as per AP reports. “Crypto is nonpartisan and moves money forward because its cheaper and faster. The Coinbase platform is open to all candidates this election season," Coinbase spokeswoman Julia Krieger told The Associated Press.
The presidential campaign for independent candidate Robert F. Kennedy Jr. is also accepting bitcoin donations, while Joe Biden's campaign team did not respond to AP's queries whether it is also welcoming contributions through
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