Follow CriptoFacil on

The decision by President Joe Biden’s re-election campaign to consider accepting donations in cryptocurrencies has caused a huge controversy in the crypto community.

This Thursday morning (13), CriptoFácil reported that Biden’s team was in negotiations with Coinbase Commerce, a platform that facilitates payments in cryptocurrencies, to accept donations in crypto. This measure would be a response to the crypto industry’s support for rival candidate Donald Trump, who already accepts donations in cryptocurrencies.

Biden’s decision to seek cryptocurrency donations through Coinbase is seen as ironic by many within the crypto community. The US Securities and Exchange Commission (SEC), under the Biden administration, sued Coinbase in June 2023 for offering unregistered securities.

This process has generated great distrust regarding the Biden administration’s intentions regarding the cryptocurrency industry.

Biden’s acceptance of cryptocurrencies

“So, the Biden administration and the SEC spend years trying to crush cryptocurrencies and even sue Coinbase… But now, they are struggling to receive crypto donations through Coinbase?” commented Dan Gambardello, founder of Crypto Capital Venture. He added: “Wow, they really think Americans are stupid.”

The reaction in the crypto community was swift and severe. Anthony Sassano, for example, an Ethereum educator, called the situation “clown world”, stating that “Biden wants to accept cryptocurrency donations, but his friends at the SEC are suing the biggest US-based crypto companies (Coinbase, Kraken, Uniswap Labs).”

Nic Carter, partner at Castle Island Ventures, posted a list of actions the Biden administration has taken against cryptocurrencies, stating: “And they have the absolute audacity to think we are going to donate cryptocurrencies to the campaign?”

While Biden faces criticism from the crypto community, Donald Trump has strengthened his ties with the industry, using it as an advantage over his rival.

On June 12, Trump declared that “Bitcoin mining could be our last line of defense against a CBDC” (Central Bank Digital Currency). He also stated that “Biden’s hatred of Bitcoin only helps China, Russia and the radical communist left.”

Trump has sought to attract support from the crypto community, promising a more favorable environment for the industry in the US.

Follow CriptoFacil on
Google News CriptoFacil


Leave a Reply