After the 2024 Bitcoin Conference, Gary Cardone revealed that he had donated 12.8 BTC, valued at over $850,000, to the Trump campaign. He emphasized that this contribution represented a crucial alternative to the existing financial system, amid the positive sentiments and commitments from industry leaders and politicians.
“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.”
Cardone says Trump is one of the most amazing disruptors, just like any Bitcoiner, especially with all the regulatory pushbacks. Meanwhile, Bitcoin fan David Bailey pointed out that Donald Trump raised $25 million in Nashville, making it his second-biggest fundraiser across three campaigns.
As the election approaches, lobbyists and crypto execs have been getting more active, trying to set up clear rules for the market. Because of this, the broader market has started supporting pro-crypto lawmakers and executives to create a path for the industry.
Crypto Regulation Getting Closer
During most of the current administration, crypto execs have criticized the regulators’ approach, calling it a bottleneck that stops innovation from growing. On top of that, the unclear rules and Congress’s failure to pass legislation for the market have led to lots of lawsuits from the SEC.
This situation is expected to change as crypto becomes more mainstream before the election, with candidates shifting their focus to the sector. Recently, pro-crypto bills have also been put forward in Congress.