David Pokima
American businessman Gary Cardone donated 12.8 Bitcoin (BTC) to Donald Trump’s Presidential Campaign ahead of the US elections. He expressed his commitment to the BTC strategy hinting at freedom amid the growing adoption. This follows similar actions by other crypto and tech executives looking to push pro-industry regulations.
Gary Cardone Donates Bitcoin to Donald Trump
Gary Cardone disclosed his donation to the Trump campaign in the aftermath of the 2024 Bitcoin Conference which raised bullish sentiments with commitment from industry executives and lawmakers. Cardone made a 12.8 BTC donation worth over $850,000, stressing the lifeline out of the current system.
“I am proud of my 12.8 BTC donation to the Trump Administration, something I have NEVER done. But for Bitcoin, I will die on the position that this is the most important moment in world history offering freedom, peace, and an ability to get off of the never-ending escalator required to outpace the loss of power and value caused by the current system.”
According to Cardone, Trump stands as one of the most spectacular disruptors similar to every Bitcoiner amid regulatory pushbacks among others. Meanwhile, Bitcoin enthusiast David Bailey noted that Donald Trump raised $25 million in Nashville making it the former President’s second-highest fundraiser in three campaigns.
The run-up to the elections has also seen increased activities of lobbyists and crypto execs to position the market towards clear rules. As a result, the wider market has moved to sponsor pro-crypto lawmakers and executives to channel a pathway for the sector.
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Crypto Regulation Inches Closer
For most of the present administration, crypto executives criticized the approach of regulators describing a bottleneck scenario where innovation cannot thrive. To add to this, unclear rules and the inability of Congress to pass legislation on the market led to frequent lawsuits from the Securities and Exchange Commission (SEC).
This status quo is billed to change as crypto becomes mainstream ahead of the election as candidates move towards the sector. Recently, pro-crypto bills have also been introduced in Congress.
Also Read: Custodia Bank Highlights Bitcoin Custody Shifting To US Banks
David Pokima
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
