Sat, May 25, 2024 at 09:13

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    Kang-hoon

    • Hello, Annie.

    • Today, I want to discuss a significant political development involving Stephen Schwartzman and his recent endorsement of Donald Trump.

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  • Annie

    • Oh, interesting!

    • Schwartzman is a big name in Republican circles, right?😊

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    Kang-hoon

    • Indeed, he is.

    • Schwartzman has been a major Republican donor for years.

    • In 2020 alone, he donated over $35 million to support Trump and other Republican candidates.

  • Annie

    • Wow, that's a lot of money!

    • But didn't he turn his back on Trump in 2022?🤔

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    Kang-hoon

    • Yes, that's correct.

    • In 2022, Schwartzman publicly stated he would never support Trump again and even donated $2 million to the super PAC of Chris Christie, a strong Trump critic.

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  • Annie

    • So, what changed his mind now?

    • Why is he endorsing Trump again?🤷‍♀️

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    Kang-hoon

    • According to Schwartzman, the sharp rise in anti-Semitism and concerns about the direction of the economy, immigration, and foreign policy have prompted him to support Trump for change.

  • Annie

    • I see.

    • And how might this endorsement affect Trump's campaign?🤔

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    Kang-hoon

    • Bloomberg suggests that Schwartzman's endorsement could influence other hesitant donors to back Trump, potentially giving him a financial boost in his campaign against President Biden.

  • Annie

    • That makes sense.

    • How is Trump's campaign funding looking compared to Biden's?💰

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    Kang-hoon

    • As of last month, Trump's campaign had $89 million in cash on hand, which is less than half of Biden's $192 million.

  • Annie

    • That's quite a gap!

    • Do you think Schwartzman's endorsement will significantly close that gap?🤔

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    Kang-hoon

    • It's possible, but it remains to be seen.

    • Schwartzman's influence could certainly help, but it will depend on how many other donors follow his lead.

  • Annie

    • Got it.

    • And what about Chris Christie?

    • Has he commented on this endorsement?🗣️

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    Kang-hoon

    • Interestingly, Christie has been tight-lipped about his support for Trump in recent months after dropping out of the race.

  • Annie

    • That's curious.

    • Do you think Schwartzman's endorsement will sway Christie's stance?🤔

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    Kang-hoon

    • It's hard to say.

    • Christie has been a vocal critic of Trump, so it might not change his position.

    • However, it could influence other donors who were aligned with Christie.

  • Annie

    • Interesting.

    • And how does this news tie into Trump's recent acceptance of cryptocurrency donations?💸

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    Kang-hoon

    • Trump's campaign has started accepting donations in various cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.

    • This move could attract a new segment of donors who prefer digital currencies.

  • Annie

    • That's a smart move, considering the growing popularity of crypto.

    • Do you think it will have a big impact?🤔

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    Kang-hoon

    • It could.

    • The acceptance of crypto donations might appeal to younger, tech-savvy voters and donors, potentially broadening Trump's support base.

  • Annie

    • So, overall, would you say this news is a positive or negative development for the market?📉📈

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    Kang-hoon

    • I would consider it a negative development.

    • The political uncertainty and potential volatility associated with Trump's campaign could create instability in the markets.

    • Upon comprehensive consideration, this news is perceived as a 😱Bearish.