The post Crypto Is the Hot New Trend for Donations This Election appeared on BitcoinEthereumNews.com.

Crypto donations have emerged as a prominent trend in the 2024 US presidential election campaign. Last month, Donald Trump became the first “major party Presidential nominee” to accept this donation form. He introduced a crypto fundraising page, allowing eligible donors to contribute using the Coinbase Commerce product. Meanwhile, President Joe Biden’s re-election team is also reportedly considering accepting crypto donations for his campaign. Both candidates seem eager to show their awareness of crypto-related issues and to support an industry currently disappointed in the US’ regulatory enforcement approach. Not too long ago, Trump was anti-crypto. In 2019, he made his disapproval clear, calling them “not money” and criticizing their volatility and lack of real value. He also argued that these assets could be used for illegal activities like drug trafficking. So why is he on board with it now? Experts across fields explained why these candidates are jumping on the crypto donation trend. Crypto Donations Provide Privacy and Modern Appeal New York Times best-selling author Deborah Perry Piscione said the move is similar to President Barack Obama using social media to raise donations in his first campaign. “Taking crypto for political contributions is hip when you are 78 years old,” she said. She added that crypto donations offer privacy benefits, although campaigns must report donor information for contributions over certain amounts.  Even though regulations around crypto donations are still changing, Trump will be remembered as the first presidential candidate to accept them, she pointed out. Piscione, co-author of the book “Employment Is Dead: How Disruptive Technologies Are Revolutionizing the Way We Work” (HBR Jan. 28, 2025), mentioned that she advised another presidential candidate and pushed for them to accept crypto donations too. Crypto Allows Politicians to Tap into Diverse Voter Base Meanwhile, Jared Grey, CEO at Sushi Labs, explained that crypto…

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Filed under: News - @ June 29, 2024 4:04 am