Donald Trump’s statements in favor of cryptocurrencies seem disingenuous, according to Arthur Hayes. In June, the politician promised that if he wins the upcoming presidential election, he would provide relief to miners and release Silk Road founder Ross Ulbricht from prison.
“Trump’s position is a calculated move to gain support from the crypto-owning population, rather than a genuine belief in the benefits of digital assets. Trump would likely change his position under different political circumstances. Trump’s primary goal right now is to secure votes, not to protect the crypto industry,” Hayes explained.
Hayes is also concerned that some influential people in the crypto community are supporting Trump’s campaign. In June, the politician received donations from the Winklevoss brothers, founders of the cryptocurrency exchange Gemini, and Kraken co-founder Jesse Powell.
Hayes called their actions wrong. According to him, Trump, being a shrewd politician, will say whatever is wanted to be heard from him to get votes. However, Trump does not guarantee that he will fulfill his promises regarding cryptocurrencies after his election.
Recently, the co-founder of BitMEX suggested that after the launch of exchange-traded funds (ETFs) on Ethereum, the US authorities will approve similar financial products tied to the DOGE memcoin.
Source: Bits
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