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Bitcoin Conference Nets Donald Trump $25 Million in Donations
During the Nashville Bitcoin Conference, former President Donald Trump reportedly amassed $25 million in donations. Fox Business journalist Eleanor Terrett revealed this achievement.
Terrett said on X (Twitter) that the Bitcoin Magazine CEO David Bailey has confirmed the amount.
Donald Trump’s Pro-Crypto Stance Continues to Attract Donations
The fundraiser attracted a diverse group of high-profile attendees, including the Winklevoss twins, singer Kid Rock, actor Jake Paul, and songwriter Billy Cyrus. This varied attendance highlights the deep interest within the crypto community to support political figures who advocate for digital currencies.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Some believe that Trump raised an eye-popping amount. However, others mocked the fundraiser, comparing it to the meme coin pre-sales.
“More money was thrown at the SLERF presale,” Chairman Birb Bernanke said.
Nonetheless, Trump’s campaign effectively utilized this event to strengthen his pro-crypto stance. He notably promised to fire the US Securities and Exchange Commission (SEC) chair Chair Gary Gensler. His bold declarations were met with enthusiastic cheers, reflecting the crypto community’s dissatisfaction with what they see as restrictive regulatory policies.
Additionally, the entry fee for a private roundtable with Trump was set at a staggering $844,600. This amount was payable in crypto, equivalent to about 13.20 Bitcoin. Moreover, opportunities to have a photograph taken with Trump were priced at $60,000 per individual or $100,000 per couple, significantly boosting the fundraiser’s total proceeds.
This recent fundraiser is part of a larger engagement strategy between Trump and the crypto community. Since June, his campaign has accepted donations in various cryptocurrencies, totaling over $4 million by July 2024. These contributions included significant cryptocurrencies like Bitcoin, Ethereum, and Ripple’s XRP, as well as the stablecoin USDC.
Read more: Who Is Gary Gensler? Everything To Know About the SEC Chairman
Previously in June, Venture capitalists David Sacks and Chamath Palihapitiya hosted the Trump Fundraiser event. Trump’s positive stance on crypto helped him raise approximately $12 million through this event. It attracted leaders from the crypto industry, including the co-founders of the Gemini exchange, Tyler and Cameron Winklevoss, along with executives from Coinbase.
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