Thu, May 09, 2024 at 06:03

• 

  Kang-hoon

  • Hello Annie, today's news is about former President Donald Trump's recent endorsement of cryptocurrencies at his Mar-a-Lago resort in Palm Beach, Florida.

  • 
• Annie

  • Oh really?😮 That's surprising.

  • What did he say exactly?

  
• 

  Kang-hoon

  • He criticized the Biden administration's stance on digital assets and aligned himself with the pro-crypto sentiment.

  • He said, 'If you're in favor of Crypto, you better vote for Trump.'

• Annie

  • Wow, that's quite a statement!😲 So he's trying to get the crypto community on his side?

  
• ADward

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• 

  Kang-hoon

  • Yes, exactly.

  • He also lamented the exodus of digital asset companies from the United States, attributing this trend to an unfriendly regulatory environment fostered by the current government.

• Annie

  • That sounds serious...😕 So, what does he plan to do about it?

  
• 

  Kang-hoon

  • 'Crypto is moving out of the US because of hostility towards crypto,' he claimed, promising to reverse this trend by creating a more welcoming regulatory framework for blockchain and digital currencies.

  • 
• Annie

  • Hmm...so he's planning to make it easier for crypto businesses to operate in the US?🤔

  
• 

  Kang-hoon

  • Yes, and not only that.

  • He also openly welcomed campaign donations in Bitcoin and other digital assets.

  • This could attract significant support from younger, tech-savvy voters who view them as a cornerstone of future financial systems.

• Annie

  • Wow, that's a big step!😮 So, how did the industry react to his statements?

  
• 

  Kang-hoon

  • The reactions were immediate and pointed.

  • Ron Hammond, the government relations director at the Blockchain Association, noted the political divide.

  • Dennis Porter, CEO and founder of Satoshi Act, commented that Trump is pro-Bitcoin/crypto while Biden is opposed.

• Annie

  • That's interesting...🤔 So, is this good or bad news for the market?

  
• 

  Kang-hoon

  • It's good news.

  • Trump's pro-crypto stance could not only sway single-issue voters but also redefine Republican strategies on technology and economic innovation.

  • This could potentially lead to a more favorable environment for cryptocurrencies in the US.

  • Upon comprehensive consideration, this news is perceived as a 😍Bullish.