Key players in the world of cryptocurrency and traditional finance (TradFi) are increasingly throwing their support behind Donald Trump as the presidential candidate who champions innovation.
Cathie Wood, CEO of Ark Invest, recently announced her endorsement of Trump for the 2024 presidential elections, stating that she will vote for “who’s going to do the best job for our economy.”
This high-profile endorsement is seen as further solidifying Trump’s image as a “pro-growth and pro-business” candidate for the upcoming elections, according to Bitfinex Analysts, who exclusively informed Cointelegraph that despite Wood’s subsequent request for the removal of the interview due to a lack of nuance in her political views, her comments carry significant weight as she is considered one of the leading tech investors.
In addition to Wood’s endorsement, Gemini co-founders Cameron and Tyler Winklevoss have each pledged $1 million in Bitcoin (BTC) towards the reelection of the former U.S. president. In a post on June 20, the Winklevoss twins expressed their intention to vote for the prospective Republican Party candidate, emphasizing that Trump was “pro-Bitcoin” and “pro-crypto,” while President Joe Biden had “openly declared war against crypto” during his time in office.
The donation from the Winklevoss twins is being viewed as a strong signal of support for the wider crypto industry, according to Bitfinex analysts, who noted that part of the Bitcoin donation was returned after exceeding the maximum amount allowed under federal law.
On May 21, Trump announced that his 2024 presidential campaign would accept cryptocurrency donations, a move that is seen as highlighting Trump’s shift towards a more favorable stance on digital assets, according to Bitfinex analysts, who also suggested that Trump’s potential reelection in November could mark the beginning of a more innovation-friendly shift for the United States crypto industry, potentially boosting mainstream adoption.
Despite the regulatory implications of the elections, it is important to recognize that blockchain technology transcends political parties, according to Jason Allegrante, the chief legal and compliance officer of Fireblocks, who emphasized that crypto voters are already disrupting the 2024 election and are set to continue doing so.