Donald Trump Earns ‘First Crypto President’ Title, Former CFTC Commissioner Claims
Former President Donald Trump has been dubbed “America’s first crypto president” ever since his first year in office in 2017, according to Chris Giancarlo, a former CFTC commissioner. This designation came about when his administration approved the introduction of Bitcoin futures contracts, he said.
Giancarlo, speaking at a Washington DC crypto policy event on Wednesday, highlighted Trump’s supposedly long-standing reputation in the crypto industry, Fox Business reported. The ex-official’s comments come after Trump last week pledged to end cryptocurrency hostility if re-elected.
“In addition to announcing he’s now ‘good with it’ — crypto, that is — Trump may justifiably claim to be ‘America’s first crypto president,’” Giancarlo said. “That is because of the launch of regulated Bitcoin futures in the first year of the Trump presidency.”
“The enduring success of that regulated futures marketplace has helped ensure that the world’s first digital commodity — Bitcoin — is priced in US dollars,” he added.
The Chicago Mercantile Exchange (CME) launched its Bitcoin futures trading in 2017, joining CBOE among the first exchanges to offer this new financial instrument.
Trump’s time as the 45th US president commenced with his inauguration on Jan. 20, 2017, and concluded on Jan. 20, 2021. According to Giancarlo, cryptocurrency was not a politicized issue in 2017. At the time, he along with fellow CFTC commissioners were “unified in support of regulatory innovation.”
But now, seven years down the line, crypto is on the brink of becoming a political focal point for the first time in a presidential election.
Before becoming a crypto advocate, Trump voiced strong criticism in July 2019. He labeled them “not money” and slammed their
