Written by Kanishka Singh
WASHINGTON (Reuters) – Former U.S. President and current Republican presidential candidate Donald Trump will speak at the 2024 convention in Nashville, Tennessee, on July 27, convention organizers said on Wednesday.
Why is this important?
Trump, who is running against Democratic President Joe Biden in the US election in November, presented himself at a fundraiser in San Francisco in June as an advocate for cryptocurrencies and criticized Democrats’ attempts to regulate the sector.
The crypto industry is increasingly trying to influence US politicians amid heightened scrutiny from regulators following the bankruptcies of major crypto companies in 2022, which spooked investors, exposed fraud and misconduct, and left millions of investors out of pocket.
Key Quotes
“Trump announced his support for the US Bitcoin industry in May 2024, calling for financial freedom and the growth of the US Bitcoin industry on the global stage,” organizers said on the conference website, describing Trump as the event’s headliner.
Trump also recently indicated that he would like to see more Bitcoin mining by American companies.
“We want every last bitcoin to be made in the United States,” Trump said on his Truth Social platform in June.
Context
Executives from cryptocurrency exchange Coinbase (NASDAQ:), cryptocurrency twin investors Tyler and Cameron Winklevoss, and other crypto leaders were present at a June tech fundraiser in San Francisco where Trump raised $12 million.
The White House under Democrat Joe Biden said it is eager to work with Congress to develop a regulatory framework for cryptocurrencies.