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Sat. Jul 13th, 2024

Donald Trump to Speak at Bitcoin 2024 Conference in Nashville July 27 | World News

By meerna Jul11,2024
Donald Trump to Speak at Bitcoin 2024 Conference in Nashville July 27 | World News

At a June fundraiser in San Francisco, Trump portrayed himself as a defender of cryptocurrencies and criticized Democratic attempts to regulate the sector.

Donald Trump, Trump
Trump announced his support for the US Bitcoin industry in May 2024. (Photo: Reuters)

Reuters Agency

Former U.S. President and current Republican presidential candidate Donald Trump will deliver a keynote address at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, conference organizers announced on Wednesday.

Why is it important?

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Trump, who is running against Democratic President Joe Biden in the November U.S. election, portrayed himself as a defender of cryptocurrencies at a June fundraiser in San Francisco and criticized Democratic attempts to regulate the sector.

The cryptocurrency industry is increasingly trying to influence U.S. politicians amid heightened scrutiny from regulators following the bankruptcies of major cryptocurrency firms in 2022 that spooked investors, exposed fraud and misconduct, and left millions of investors destitute.

Key Quotes

“Trump announced his support for the U.S. Bitcoin industry in May 2024, advocating for financial freedom and the growth of the U.S. Bitcoin industry internationally,” organizers said on the conference website, describing Trump as the event’s headliner.

Trump recently made it clear that he would like US companies to increase their bitcoin mining.

“We want all remaining Bitcoin to be MADE IN THE USA,” Trump said in June on his Truth Social platform.
Context

Executives from cryptocurrency exchange Coinbase, cryptocurrency investors twins Tyler and Cameron Winklevoss and other cryptocurrency industry leaders were present at a tech fundraiser in June in San Francisco where Trump raised $12 million.

The White House under Democrat Biden has said it is willing to work with Congress to develop a regulatory framework for cryptocurrencies.

(Only the headline and image of the report may have been edited by the Business Standard team; the rest of the content is automatically generated from a syndicated feed.)

By meerna

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