The main surprise of the event was that Trump is going to appoint the head of SpaceX Ilon Musk to head a new government efficiency commission. Her activities will be aimed at auditing federal spending – allegedly in this way it will be possible to get rid of unnecessary budget spending.

What will happen to cryptocurrencies when Trump wins?

Trump’s speech took about an hour, and during this time he addressed the topic of cryptocurrencies several times. Firstly, Donald again promised to make the United States a centre for the development of digital assets. Here’s a rejoinder on the subject, as quoted by CoinDesk.

Instead of fighting the industries of the future, we will support them, including making the United States the world capital of cryptocurrencies and Bitcoin.

In principle, the United States is already almost the most influential country in many aspects of crypto. For example, the listing of US spot ETFs based on Bitcoin in early 2024 helped the main cryptocurrency set a new all-time high of $73,777 in mid-March.

In addition, the U.S. accounts for the largest share of the total hashrate of the Bitcoin network, meaning that there are already a lot of miners in the country.

Former US President Donald Trump

The country got the primacy in mining the main cryptocurrency after it was banned in China in 2021. Some Chinese miners are still operating undercover, but most of them have migrated to other countries around the world - including the US.

The only thing the States is significantly behind is the issue of digital asset regulation, which doesn’t provide clarity for the industry. However, Trump has also promised to deal with it as well. The politician continues.

I will launch a historic campaign to free our economy from ruinous regulation. Today, I promise that during my second term, we will repeal at least ten outdated regulations after every new law is passed.

Changes in the TRUMP meme token exchange rate over the past three months

If elected, Trump would immediately declare a national emergency to increase domestic energy production. He cited the need for more resources to further develop the artificial intelligence sector and keep the U.S. tech industry competitive with China. Here’s a rejoinder on the subject.

With this broad authority, we will overcome all bureaucratic hurdles to quickly issue permits for new drilling, new pipelines, new refineries, new power plants and reactors of all types. Prices will drop immediately in anticipation of the huge supply we can create fairly quickly, and we will be the leader, not the laggard.

Ilon Musk is likely to be involved in this process as a potential head of the efficiency commission. This choice by a politician was made for a reason, as Musk is a long-time Trump supporter. In addition, it was after Ilon bought the social platform Twitter that Donald’s official account in the social network was unblocked.

Tesla CEO Ilon Musk

The promises look like a great recipe for rapid growth of the crypto market. However, you definitely shouldn’t believe politicians completely – and especially not in terms of crypto. Bitcoin was created by Satoshi Nakamoto as a tool to counter centralisation and authoritarianism, so in the long term, governments are unlikely to be an ally of the people in popularising BTC.

Donald’s main target remains not the cryptocurrencies themselves, but the votes of voters – especially those who own crypto. And in the election, this tactic could prove to be a winning one. At least it seems so, given that his main opponent, Vice President Kamala Harris, is making few steps towards digital asset enthusiasts.

Trump is leading in the election race according to users of decentralised platform Polymarket

Harris’ representatives have not yet agreed to even the smallest thing – accepting donations for the election race in cryptocurrency. This came to light shortly after Coinbase CFO Alesia Haas made a public appearance.

At the Global TMT Conference event, she said that Vice President Harris has a “huge opportunity” to attract voters by supporting legislation in favour of the crypto industry. Plus, Harris has allegedly already started accepting crypto donations through Coinbase Commerce.

Recall, Donald Trump's team added the possibility of supporting cryptocurrencies as early as 21 May 2024. At the same time, the Democrats are still in no hurry to work in this direction, although there are two months left before the election. Obviously, this reflects their position on digital assets in general.

Crypto donations on Donald Trump’s presidential campaign website

However, campaign spokesperson Harris noted that the team can currently only accept funds from crypto through Future Forward’s political action committee (PAC), with that organisation having raised more than $163 million, Cointelegraph reported.

So these are not direct donations in digital assets. So far, Kamala has also not made any public statements regarding her plans to regulate the crypto market, well, the politician’s previous comments on economic policy have led to disaster.

Vice President of the United States Kamala Harris

Recall, in August, Harris announced her desire to introduce the first in the history of the United States federal ban on raising food prices above a “fair” level. With this in mind, critics of the Democratic candidate quite predictably started talking about Kamala’s support for the ideas of communism, which are unacceptable in the US.


Donald Trump continues to bank on digital asset lovers in the upcoming presidential election. And this only confirms the enormity of today's coin industry, which in one way or another can influence the outcome of globally important events. Whether this strategy turns out to be correct will become clear in November.


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