Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

Source Fxstreet

US Presidential candidate Donald Trump embraces crypto, says he is open-minded towards crypto companies.
Trump says that US must be the leader in the field and there is no second place, in his post on Truth Social.
Trump says he will support the right to self custody for the country’s 50 million crypto holders.

US Presidential candidate Donald Trump shared positive views on crypto, posting on social media platform, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry.”

Crypto has emerged as a key topic in the upcoming presidential election in the US with Trump expressing his support for self custody.

Donald Trump addresses pro-crypto voters on social media

Per a report from Washington-based Politico, crypto is used by a fraction of the voters in America. Despite this it has an outsized impact on US politics. Cryptocurrency firms and groups are preparing to spend over $80 million in 2024 elections, per the report.

The Federal Reserve’s May 2024 report on “Economic Well-being of US households” shows that only 7 percent of adults held or used cryptocurrency in 2023, a decline of 5 percentage points from 2021.

US Presidential candidate Trump posted on his Truth Social account,

I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry. Our country must be the leader in the field and there is no second place.

Trump supports US voters’ right to self custody of crypto and has taken a pro-crypto stance in the elections, per his posts on social media, and his statements when addressing rallies.

The Polymarket prediction platform shows that there is 56% chance of former President Trump winning the US election.

US Presidential campaign

US Presidential campaign bet on Polymarket

With a crypto bill FIT21 being passed in one House of the Congress and crypto’s dominant role in the Presidential elections, it remains to be seen how Securities and Exchange Commission’s (SEC) lawsuits against Ripple and Coinbase will end.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US September Nonfarm Payrolls Preview: Job Growth May Cool, How Will US Stocks, Dollar and Gold React?On Friday, October 2 (EDT), the U.S. will release its September nonfarm payrolls report, with markets focusing on whether job growth can sustain August's rebound and whether the data will

Author TradingKey

10 hours ago

On Friday, October 2 (EDT), the U.S. will release its September nonfarm payrolls report, with markets focusing on whether job growth can sustain August's rebound and whether the data will

Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflation Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Author FXStreet

14 hours ago

Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday.

Gold Price Forecast: US August PCE Imminent, Will Gold Prices Rise or Fall Short-Term?As of the European session on September 30, gold prices (XAUUSD) continued to recover after a sharp drop earlier this week, reclaiming $4,200 intraday, with the latest price trading near

Author TradingKey

Sep 30, Wed

As of the European session on September 30, gold prices (XAUUSD) continued to recover after a sharp drop earlier this week, reclaiming $4,200 intraday, with the latest price trading near

【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonight The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

Author Suzie

Sep 30, Wed

The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.

【Daily Brief】The dollar ground higher for six days — and the AUD fell 2% in the very week the RBA hiked to a 15-year high The dollar index held above 101 while the Australian dollar slid to a two-month low of 0.6976, a 2.02% six-session loss, even though the RBA raised rates to 4.60% and Australian CPI printed 4.0%. The yen is the only major currency gaining, ahead of Japan's monthly intervention tally at 7pm JST.

Author Irene Q.

Sep 30, Wed

The dollar index held above 101 while the Australian dollar slid to a two-month low of 0.6976, a 2.02% six-session loss, even though the RBA raised rates to 4.60% and Australian CPI printed 4.0%. The yen is the only major currency gaining, ahead of Japan's monthly intervention tally at 7pm JST.

Popular Symbols