Uniswap founder Hayden Adams suggests that crypto is gaining significant attention in Donald Trump’s upcoming presidential campaign this fall. According to Adams, Republicans are intensifying their focus on cryptocurrencies. In a recent post on X dated May 13, Adams criticized President Joe Biden’s administration, stating that they are mistaken in their belief that crypto will be inconsequential in the 2024 election.
“Republicans smell blood in the water and are turning hard towards crypto. Not much time for Biden to save it.”
Hayden Adams
Adams called upon high-ranking officials within the Biden administration or Democratic leadership to “acknowledge the gravity of the situation and advocate for an urgent change in their stance on crypto“.
However, the Biden administration appears resolute, aligning its views with those of Senator Elizabeth Warren, who advocates for stringent regulations in the crypto sector. Additionally, the U.S. Securities and Exchange Commission categorizes nearly all cryptocurrencies as securities, reflecting a firm stance on regulation.
Despite recent legislative efforts, including a House of Representatives resolution challenging the SEC’s regulatory approach to banks and crypto, President Biden is maintaining a firm stance on keeping crypto market regulations stringent. He has stated his intention to veto any measures aimed at easing these regulations, citing demonstrated risks in technology, legality, and regulation that have resulted in significant consumer losses.
In contrast, former President Donald Trump is positioning himself as a supporter of crypto-friendly policies, seeking to garner the backing of crypto voters. According to a post on X dated May 11, Bitcoin Magazine CEO David Bailey mentioned collaborating with Trump for a month on what he calls a “comprehensive executive order.” Bailey also noted that other players in the crypto industry are considering raising up to $100 million to support the Trump campaign and help secure his return to the White House.
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