In a surprising move, Charles Hoskinson, the co-founder of the Ethereum blockchain, has thrown his support behind Donald Trump in the upcoming 2024 presidential election. Speaking at the TOKEN2049 conference in Singapore, Hoskinson stated that from a cryptocurrency perspective, Trump is a more favorable candidate than Vice President Kamala Harris.
Hoskinson’s preference for Trump stems from his belief that the former president would be more conducive to the growth of the cryptocurrency industry. While acknowledging that global regulatory frameworks for crypto are developing regardless of the U.S.’s position, Hoskinson expressed his hope that America would take a more proactive role in fostering innovation in the space.
This endorsement comes on the heels of Donald Trump’s official foray into the cryptocurrency world. Trump launched World Liberty Financial (WLFI), a decentralized finance (DeFi) platform aimed at promoting the mass adoption of stablecoins. The platform features a new cryptocurrency called $WLFI, which will be offered to the public. Trump’s sons, Barron, Eric, and Donald Jr., were instrumental in introducing him to the world of crypto and NFTs.
Trump’s recent embrace of crypto stands in stark contrast to his previous negative stance on Bitcoin. This shift in attitude reflects a growing awareness of the potential of blockchain technology among policymakers and business leaders alike. The industry is now actively seeking clear and concise regulations from the U.S. government to ensure its long-term stability and growth.
Anthony Scaramucci, former White House Communications Director and founder of SkyBridge Capital, has echoed the call for bipartisan regulation of cryptocurrency in the U.S. Scaramucci, who has been a vocal supporter of the digital asset industry, believes that a clear regulatory framework is essential for the industry to thrive.
The debate surrounding cryptocurrency and its role in the U.S. economy is likely to intensify as the 2024 presidential election approaches. Hoskinson’s endorsement of Trump, coupled with Trump’s own entry into the crypto space, suggests that this issue will be a major point of contention in the race for the White House.
