Biden Campaign Considers Crypto Donations to Signal Industry Support

Biden’s Campaign Eyes Cryptocurrency Donations

The re-election campaign for U.S. President Joe Biden is exploring the acceptance of cryptocurrency donations, according to a report by The Block. This move aims to demonstrate the campaign’s openness to the crypto industry.

Engaging the Crypto Community

Discussions are reportedly underway with crypto businesses to facilitate donations via Coinbase Commerce. A source close to the campaign noted that the team wants to show they “are not the enemy” and are attentive to the issues surrounding cryptocurrency.

Competitive Fundraising

In May, Biden’s campaign team highlighted the financial gap between their campaign and that of Donald Trump, which has seen substantial support from crypto executives. The campaign urged for more donations to keep pace with their Republican counterpart.

Exploratory Stage

Despite these discussions, the acceptance of crypto donations is still in the exploratory phase. Biden’s advisors emphasize the importance of staying informed about cryptocurrency to avoid potential setbacks in the election.

Trump’s Crypto Commitment

Donald Trump, the presumptive Republican nominee, has already embraced crypto donations, accepting various cryptocurrencies including Bitcoin, Ether, and Dogecoin through his fundraising page. He has positioned himself as a “crypto president” and has pledged to pardon Ross Ulbricht, the founder of Silk Road, if re-elected.