YEREVAN (CoinChapter.com) — Donald Trump is gaining support from key figures in cryptocurrency and traditional finance. Ark Invest CEO Cathie Wood recently endorsed Trump for the 2024 presidential elections, highlighting his potential to boost the economy and encourage innovation.
Cathie Wood Backs Trump’s Economic Vision
Cathie Wood, a tech investor, has announced her support for Trump, saying she will vote for
“who’s going to do the best job for our economy.”
Wood believes Trump’s focus on reducing regulations and taxes will foster technological growth. Despite later requesting the interview’s removal, her endorsement remains impactful.
Bitfinex analysts highlighted Wood’s views on innovation and long-term economic growth. They believe Trump’s policies will benefit emerging technologies, positioning him as a “pro-growth and pro-business” candidate.
Despite later requesting the interview’s removal for lacking nuance in her political views, Wood’s comments remain a strong endorsement, given her status as one of the leading tech investors.
Winklevoss Twins Support Trump with Bitcoin Donations
Gemini co-founders Cameron and Tyler Winklevoss pledged $1 million in Bitcoin each towards Trump’s reelection. In their June 20 posts, they expressed support for Trump, describing him as “pro-Bitcoin” and “pro-crypto.” They criticized President Joe Biden for his stance against crypto.
The Winklevoss twins’ donations emphasize Trump as a pro-innovation candidate in the crypto community. Bitfinex analysts noted this move shows industry support for Trump’s regulatory approach. Part of their Bitcoin donation exceeded federal limits and was returned, though it is unclear whether it was returned in Bitcoin or cash.
Trump Embraces Crypto Donations for 2024 Campaign
On May 21, Trump announced his 2024 campaign would accept cryptocurrency donations. This marks a shift in his stance on digital assets. Bitfinex analysts stated this aligns Trump with crypto-friendly policies and positions him as the “Crypto President.”
“This alignment with crypto-friendly policies has positioned Trump as a preferred candidate for those advocating for regulatory clarity and support for blockchain technology and cryptocurrencies. He’s also proclaimed himself to be the “Crypto President.”
Bitfinex analysts suggest a Trump administration might create a clear regulatory framework for cryptocurrencies. This could encourage investment and innovation in the crypto sector, increasing the adoption of digital assets and integrating them into the financial system.
Blockchain Industry Prioritizes Progress Over Politics
Despite political implications, the blockchain industry remains focused on innovation. Jason Allegrante, chief legal and compliance officer of Fireblocks, emphasized the industry prioritizes innovation, regardless of political affiliations. He noted that while Republicans might benefit more in the upcoming elections, the industry’s commitment to technological advancement remains strong.
“What’s remarkable about the industry’s positioning in this election cycle is that it will continue to prioritize the cause of innovation first and foremost even as it wades back into electoral politics. Republicans may benefit more this November simply because many already seem to understand the issues.”
