Key Takeaways
- Cathie Wood endorses Trump, highlighting his pro-innovation stance.
- Winklevoss twins pledge $1 million in Bitcoin towards Trump’s reelection.
- Trump's campaign accepts Bitcoin donations, signaling a favorable stance.
Donald Trump is increasingly seen as the pro-innovation candidate for key players in both Bitcoin and traditional finance (TradFi).
ARK Invest CEO Cathie Wood has publicly endorsed Trump for the 2024 U.S. presidential election, stating she will vote for:
Who’s going to do the best job for our economy.
Wood’s endorsement solidifies Trump’s reputation as a “pro-growth and pro-business” candidate. Bitfinex analysts note that Wood believes Trump’s policies, which focus on reducing regulations and taxes, will foster innovation and technological advancement, creating a favorable environment for disruptive technologies.
Interview stands
Despite requesting the removal of her interview due to its lack of nuance, Wood’s endorsement is significant given her status as a leading tech investor.
Adding to this support, Gemini co-founders Cameron and Tyler Winklevoss have pledged $1 million in Bitcoin towards Trump’s reelection. In their June 20 posts on X, they affirmed their support for Trump, labeling him as “pro-Bitcoin” and criticizing President Joe Biden’s stance on digital assets.
The Winklevoss twins’ donation was partially returned for exceeding federal limits, but the gesture underscores Trump’s appeal within the crypto community. Trump has further bolstered his pro-crypto stance by announcing in May that his campaign would accept cryptocurrency donations.
Bitfinex
Bitfinex analysts suggest that a Trump reelection could usher in more crypto-friendly regulations and boost mainstream adoption. They predict a Trump administration might create a supportive regulatory framework, encouraging innovation and investment in the sector.
Despite the political implications, Jason Allegrante, Chief Legal and Compliance Officer at Fireblocks, emphasizes that Bitcoin transcends political parties and will prioritize innovation regardless of electoral outcomes.
