Countdown to the US Presidential Election! The attitudes of the two parties towards the cryptocurrency industry have attracted much attention. Donald Trump, the former President of the United States, has now opened up donations through the Bitcoin Lightning Network, with a minimum donation amount of $500. On the other hand, Biden’s veto of the repeal of “SAB 121” has caused dissatisfaction within the industry.
According to a report by Bitcoin Magazine, former US President Donald Trump has become the first US presidential candidate to accept campaign donations through the Bitcoin Lightning Network. Trump’s campaign team has partnered with the well-known Bitcoin and Lightning Network infrastructure provider, OpenNode. Supporters can now use Bitcoin through the Lightning Network to make donations to Trump’s 2024 presidential campaign.
Minimum donation of $500
According to information revealed on the website, there are various donation amounts to choose from, with the minimum being $500. In fact, Trump’s campaign team has not only embraced the Lightning Network, but as early as May 11th, he claimed to be ready to embrace new technologies that will make America great again. His campaign team stated in a press release that they can accept donations in any cryptocurrency that can be processed through Coinbase Commerce.
According to the website, the accepted cryptocurrencies include Bitcoin, Ethereum, SOL, USDC, XRP, ZRX, and even meme coins like DOGE and SHIB.
Bridge Capital Founder criticizes Biden’s stance on crypto
On the Democratic side, the attitude towards the crypto market is completely different from that of the Republican Party. In mid-May, the US Congress passed a resolution to repeal the Securities and Exchange Commission’s (SEC) cryptocurrency accounting standard, “SAB 121,” becoming the first crypto bill submitted to the President. However, Biden officially vetoed the bill aimed at repealing SAB 121 yesterday.
The crypto community and the US Congress have expressed their dissatisfaction with Biden’s decision. Cody Carbone, Policy Director of the Digital Chamber, stated on X:
“Additionally, Anthony Scaramucci, the founder of SkyBridge, also expressed his opinion on X, stating that President Biden’s stance on cryptocurrency could cost him dearly. Scaramucci believes that vetoing the SAB 121 bill is a very wrong decision, especially at this crucial moment.
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