Trump’s crypto initiatives spark buzz, yet his memecoin [TREMP] drops by 7%, and his poll lead narrows.
- Trump’s campaign raised $25 million through crypto donations. The former president also launched Bitcoin-themed sneakers as part of his 2024 presidential campaign.
The highly anticipated Bitcoin [BTC] Conference 2024 concluded with former President Donald Trump gaining significant attention for his increasingly crypto-friendly stance.
In support of crypto, Trump campaign had previously launched a fundraising page on 21st May, allowing contributions via cryptocurrency through Coinbase Commerce.
Trump raised $25 million in Bitcoin
During his keynote speech at the conference in Nashville, Tennessee, Trump revealed that his campaign successfully raised $25 million since opening up to crypto donations, underscoring the growing influence of the crypto industry and Bitcoin enthusiasts in the political arena.
Remarking on the same, Trump addressed the conference by saying,
“I’m proud to be the first major party nominee in American history to accept donations in bitcoin and crypto, and they’ve made a lot of them I might tell you, and I appreciate it.”
Appreciating Trump’s move, David Bailey, CEO of Bitcoin Magazine took to X and noted,
Source: David Bailey/X
The investor who made the news
Gary Cardone, a digital asset investor and entrepreneur, drew significant attention during Trump’s campaign. Cardone made headlines by donating 12.8 Bitcoin, valued at $852,000, to support Donald Trump’s bid for the presidency.
“I am proud of my 12.8 BTC donation made to the Trump Administration, something I have NEVER done. But for Bitcoin I will die on position…”
He further added,
“Trump is one of the most spectacular disruptors in history and that makes him and every Bitcoiner, more alike than different, and most certainly he is a fighter just like the rest of us.”
What’ this Bitcoin-themed sneakers?
Additionally, Trump also made headlines, this time by launching Bitcoin-themed sneakers as part of his 2024 presidential campaign.
His company, CIC Ventures LLC, introduced a limited edition of “Crypto President” high-tops, with 1,000 pairs in “Bitcoin orange” priced at $500 each and 4,000 pairs in “luxurious black” available for $299 each.
These sneakers prominently feature the Bitcoin symbol, celebrating Trump’s vision for the future of finance. This bold initiative follows his recent pledge at the Bitcoin conference in Nashville to establish a national Bitcoin reserve if elected.
Source: Donald Trump/Truth Social
Impact on the memecoins and Polymarket
However, despite Trump’s recent initiatives, the Trump-inspired memecoin, Doland Tremp [TREMP], saw a decline of over 7% in the past 24 hours.
Moreover, Polymarket’s prediction market for the 2024 Presidential Election indicated a drop in Trump’s projected vote share from 68% to 55%. However, he still remains the frontrunner, topping the chart despite this decrease.
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