The former United States president is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign. Former United States President Donald Trump is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign. Trump reportedly declared “he would be the crypto president” at a fundraising event in San Francisco hosted by Craft Ventures’ general partner, David Sacks and tech billionaire Chamath Palihapitiya. Trump also reiterated his support for crypto and his plans to push the industry forward, highlighting the Democratic Party’s intention to take the opposite approach with harsh regulations. However, some experts believe that a crypto shift is happening in Washington. Bitwise chief investment officer Matt Hougan thinks the U.S. is finally moving toward regulatory clarity, which could open it up to the country’s $20 trillion financial advisory industry. Meanwhile, the industry doesn’t just wait for things to change. Crypto exchange Coinbase donated $25 million to crypto-focused super political action committee (PAC) Fairshake as it ramps up lobbying ahead of the November U.S. elections. The latest donation brings the total amount raised by the PAC and its affiliates this election cycle to $160 million. This amount matches recent donations from Ripple and venture firm Andreessen Horowitz

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The crypto market is excitedly buzzing as Bitcoin surpassed the $70,000 mark on Tuesday, driven by improving risk appetite and significant inflows into U.S. spot Bitcoin ETFs. Analysts hint at the possibility of new highs this week, especially if weak US economic data continues to support the case for Federal Reserve rate cuts.