Crypto shares also soared after Trump was shot in an assassination attempt and investors bet on him winning the election.
Shares of New York-based cryptocurrency firms jumped Monday after Republican presidential candidate Donald Trump talked up bitcoin and promised friendlier regulation for the industry.over the weekend — vowed the “United States will be the crypto capital of the planet and the bitcoin superpower of the world” if he is re-elected to the White HouseBitcoin jumped as much as 2.4% to its highest since mid-June before giving up the gains later in the day. The token was worth $68,142.
Crypto has rapidly moved from the fringes of the financial world to the mainstream, helped by institutional investors’ backing and the approval of exchange-traded funds tied to spot price of bitcoin and ether.Owner of posh NYC wine shop demanded discounts on prize French booze in bizarre deal to sell store“The sentiment globally has been incredibly positive this year … This is all setting the scene for what many believe is the next bull run for 2024-25,” said CoinCorner CEO Danny Scott.
Trump laid out his plan for the industry, which includes firing SEC Chairman Gary Gensler, collecting a “stockpile” of US crypto and creating a Bitcoin advisory council.In March, Gensler said “the whole field is rife with abuses and fraud.”“For three and a half years, the current administration has waged a war on crypto and Bitcoin like nobody’s ever seen before,” Trump said.
Though now widely considered the crypto-nominee, Trump was skeptical of the industry during his time in the White House.
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