On Wednesday, Bitcoin 2024 organizers announced that former president and Republican presidential contender Donald Trump will speak in Nashville, Tennessee, on July 27
Trump, who is running against Democratic President Joe Biden in the November U.S. election, portrayed himself as a proponent of cryptocurrencies and criticized Democrats’ efforts to regulate the sector during a fundraiser in San Francisco in June.
The crypto industry is increasingly attempting to influence U.S. legislators in response to the increased scrutiny from regulators resulting from major crypto firms’ bankruptcies in 2022.
These bankruptcies spooked investors and exposed fraud and misconduct, leaving millions of investors out of pocket.
“Organizers described Trump as the primary headliner of the conference on the conference website, stating that he expressed his support for the American Bitcoin industry in May 2024, advocating for financial freedom and the expansion of the U.S. Bitcoin industry globally.”
Donald Trump has also recently expressed his desire to increase the number of Bitcoin mining operations conducted by U.S. companies.
In June, Trump stated on his Truth Social platform, “We desire that all remaining Bitcoin be manufactured in the United States.”
In June, the tech fundraiser in San Francisco, where Trump raised $12 million, was attended by executives from crypto exchange Coinbase, crypto investor siblings Tyler and Cameron Winklevoss, and other crypto leaders.
Under the leadership of Democrat Joe Biden, the White House has expressed its eagerness to collaborate with Congress to create a regulatory framework for cryptocurrencies.