Donald Trump Receives $341 Billion in Donations After Speech at Bitcoin Conference

Earlier, Republican presidential candidate Donald Trump said at a bitcoin conference on Saturday the US must dominate the crypto sector or China will.

It is his latest move to appeal to supporters of cryptocurrencies, which have been restricted by Beijing and which he has previously called a scam.

Speaking at the Bitcoin 2024 convention in Nashville, Trump positioned himself as a pro-cryptocurrency candidate ahead of the Nov. 5 presidential election, saying he would make the United States the world’s cryptocurrency leader and welcome friendlier regulations.

Republicans have promised lighter regulations for cryptocurrencies, and Trump has slammed Democratic efforts to regulate the sector.

“If we don’t embrace crypto technology and bitcoin, China will, other countries will. They will dominate, and we can’t let China dominate. They’ve made too much progress,” Trump said at the conference, as quoted by Yahoo Finance, Wednesday (31/7/2024).

China has cracked down on cryptocurrencies and has tight controls on the movement of capital across its borders.

However, people there can still trade tokens like bitcoin on crypto exchanges, and Chinese investors can also open bank accounts abroad to buy crypto assets.