Donald Trump’s presidential campaign begins accepting crypto donations

Trump’s campaign announced Tuesday that it would begin accepting cryptocurrency donations, marking the first time a major-party presidential candidate has done so.

That decision is in line with Trump’s broader agenda, which the campaign described as valuing “freedom over socialist government control.”

Trump campaign promises to build ‘crypto army’

According to a press release from the campaign, Trump supporters can now donate using “any cryptocurrency accepted through the Coinbase Commerce product.” The campaign assured that all cryptocurrency contributions would adhere to Federal Election Commission regulations, including contribution limits and disclosure requirements.

The campaign referenced Sen. Elizabeth Warren, a surrogate for President Joe Biden, who has been vocal about her opposition to cryptocurrencies. In a re-election ad published on X in March 2023, Warren declared that he was building an “anti-crypto army” to restrict Americans’ financial options.

In response, the Trump campaign declared: “MAGA supporters, now with a new cryptocurrency option, will build a cryptocurrency army that will propel the campaign to victory on November 5th!”

Weeks ago, at a Mar-a-Lago gala, Trump declared himself the “crypto candidate,” putting digital currencies in the spotlight for the 2024 campaign.

In December 2022, Trump sold a limited series of NFT trading cards that could be purchased with cryptocurrency. Earlier this month, he hosted a lavish dinner for his NFT backers at his Mar-a-Lago club, where he reinforced his pro-crypto stance.

“If you’re pro-crypto, you’re going to vote for Trump because they want to end it,” he said at the event, referring to the Democratic Party and President Joe Biden. Trump also pledged to ensure his campaign could accept crypto donations.

TRUMP Token Rises 14% As Top Sellers Take Profits

According to Nansen, the price of the TRUMP token rose 14% following the announcement that Donald Trump’s campaign would now accept cryptocurrency donations.

In a thread posted on X, Nansen revealed that his analysis of TRUMP’s top 10 buyers on the chain over the past 24 hours showed that most addresses had low ROI and average win percentages, and many had bought TRUMP previously without making significant profits.

But how do the top 10 TRUMP onchain vendors compare?

Well, if you look at the top address, they’re crushing it

They bought TRUMP early and have been taking profits at the peaks, with over 1,600% unrealized gains. pic.twitter.com/l18iUe6xh8

— Nansen 🧭 (@nansen_ai) May 21, 2024

Meanwhile, the chain’s top TRUMP sellers were found to be highly successful. The main address, which TRUMP bought early, has been profiting at market peaks, with over 1,600% unrealized gains.

This trend, with TRUMP’s price rising over 60% over the past month, indicated that these sellers were gradually taking profits to reduce their exposure. Many of these addresses were observed to increase by over 1,000% in unrealized earnings.

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