Former President Donald Trump will start accepting crypto donations amid his costly legal battles, failing business ventures, and expenses for his presidential campaign.
In a press release statement on Monday,Trump's campaign announced that it will include cryptocurrency "accepted through the Coinbase Commerce product" to raise funds for his campaign programs.
(Photo : Jeff Swensen/Getty Images)
The "groundbreaking" decision came amid concerns with the growing federal crackdowns on cryptocurrency, an opportunity Trump did not let pass to throw shade against his biggest rival President Joe Biden.
Trump Accuses Biden Admin of Hampering Crypto Currency Growth
Trump accused Biden and Democratic Sen. Elizabeth Warren of building an "anti-crypto army" to "restrict Americans' right to make their own financial choices," a complete opposite to Trump who supposedly "championed innovation in financial technology."
The ousted president is no stranger to cryptocurrency with several crypto leaders being appointed to government positions and reduced regularization on digital currencies that multiplied their value in the following years.
It is worth noting, however, that the US Securities and Exchange Commission has only started regulating cryptocurrencies following the rapid growth of crypto-related scams and the downfall of several industry giants like FTX.
Also Read: FTX to Return Stolen Money to At Least 98% of Affected Customers
Trump Remains in Deep Financial Trouble
Despite headways and announcements of several business ventures, Trump remains stuck in a financial loop as expenses continue to double, forcing the ex-president to resort to selling out some of his properties.
Before it was acquired by Digital World Acquisition Corp., the Washington Post reported that Trump offered X (former Twitter) owner Elon Musk to purchase his Truth Social ahead of the 2024 Elections.
Even then, the decision to bring the social platform to the public has been considered by many financial experts to be a massive failure after losing over $300 million in just a little over a month.
Despite reports, Trump claimed he still has hundreds of millions of dollars in his savings, able to afford the penalties imposed from the multiple lawsuits charged against him.
Related Article: Donald Trump is Asking Elon Musk to Buy Truth Social Ahead of 2024 Elections: Sources
