Trump taps Bitcoin Magazine CEO for crypto policy agenda ahead of 2024

As an analyst with a background in finance and politics, I find the collaboration between Donald Trump’s campaign and Bitcoin Magazine CEO David Bailey on a crypto policy agenda intriguing. The potential for a comprehensive executive order on crypto signed “day 1” of a Trump presidency is significant, especially considering Trump’s previous stance on Bitcoin as a “scam.”

As a crypto investor, I’m excited to share that Donald Trump, who is expected to be the Republican Party’s nominee for the 2024 presidential election, is collaborating with David Bailey, the CEO of Bitcoin Magazine, to develop a forward-thinking cryptocurrency policy platform.

In a blog entry dated May 11th on X, Bailey revealed that he’s collaborated with Trump for a month on what he calls a “far-reaching executive order,” which Trump intends to sign upon taking office.

As an analyst, I would rephrase it as follows: On “Day 1,” according to remarks Trump made in Iowa during December, he intends to govern like a dictator. However, Trump clarified to Time magazine that this statement was made in a joking manner.

Over the past month, I’ve been deeply involved in collaborating with the Trump campaign to shape their Bitcoin and cryptocurrency policy blueprint. I spearheaded the proposal of a far-reaching executive order for President Trump to sign on his inaugural day. Soon, I will be unveiling the specifics of this plan. This week, Trump took an initial action in line with our recommendations, but…

— David Bailey🇵🇷 $0.65m/btc is the floor (@DavidFBailey) May 11, 2024

As an analyst, I’d like to share that during our discussion, Bailey mentioned his intention, along with other crypto industry players, to amass a $100 million fund for the Trump campaign. The goal is to help secure a second term for the former President, who has been impeached twice and indicted four times.

As a researcher studying the latest developments in finance and politics, I’ve come across an intriguing turn of events. Bailey’s disclosure emerges amid Trump’s shifting perspective on Bitcoin. Trump, who is currently undergoing a trial in New York for allegedly falsifying business records, has previously denigrated Bitcoin as a “scam” and something “based on thin air.” However, it seems that his stance towards this digital currency may be softening.

Trump heavily depends on fundraising from campaign contributions and Political Action Committees (PACs) to cover legal expenses, estimated to exceed $100 million by early 2024. Now, he’s exploring the possibility of accepting donations in cryptocurrency.

“I, Trump, am the go-to candidate for those who advocate for cryptocurrencies. My opponents aim to suppress it.”

As a researcher examining recent developments in the crypto industry, I’ve observed intense criticism and opposition directed towards SEC Chair Gary Gensler and President Joe Biden’s administration from prominent figures such as Charles Hoskinson, the founder of Cardano.

As a crypto investor, I’ve been keeping a close eye on the ongoing developments regarding President Biden’s reelection prospects and the Securities and Exchange Commission (SEC)’s firm position on cryptocurrencies. Even billionaire entrepreneur Mark Cuban has voiced his concerns about this situation, emphasizing its potential impact on our industry.

As a crypto investor, I’ve been dismayed by the roadblocks created by Gensler that hinder the growth of legitimate crypto businesses. I urge Congress to step in and pass targeted legislation designed specifically for this industry, so we can overcome these challenges and foster a thriving ecosystem.

The Biden administration has not shown any signs of being hostile towards cryptocurrencies. Instead, an executive order issued in September 2022 by the White House mentioned the significant loss of over $650 billion for investors and consumers due to events like the $50-billion crash of Terra as reasons for approaching crypto development with caution and responsibility.

As a crypto investor, I’ve noticed that the industry has faced its fair share of controversies. For instance, FTX went bankrupt, and Binance had to pay a substantial fine to the U.S. government following former CEO Changpeng Zhao’s guilty plea for violating American money laundering laws.

According to the Pew Research Center, such incidents have raised doubts among some American voters regarding the security and trustworthiness of cryptocurrencies.

As a crypto investor, I’ve noticed Trump’s recent efforts to appeal to the crypto community. This comes at a time when polls suggest that a significant number of his potential voters view crypto as an important issue. For instance, a survey conducted by DCG and Harris Poll revealed that approximately 20% of American voters in swing states consider crypto a key election concern.

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2024-05-12 17:52