The developments come amid Trump’s support for the crypto sector.
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Updated: Jul. 15, 2024 at 9:36 pm UTC
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Former President Donald Trump picked pro-crypto senator J.D. Vance as his running mate and became the Republican party’s official Presidential nominee on July 15.
In a July 15 announcement on Truth Social, Trump declared the Ohio senator would join his ticket as the vice-presidential Republican candidate. The Republican party subsequently announced that Trump had obtained enough votes to become the party nominee.
Coinbase’s Stand With Crypto initiative rates Vance as a “strong” supporter of cryptocurrencies due to his positive social media posts and voting in favor of pro-crypto legislation. Vance voted in favor of a resolution to rescind the SEC’s Staff Accounting Bulletin 121 and was also part of the group of lawmakers that criticized the SEC’s handling of a case against crypto firm DEBT Box.
Vance opposed Trump in 2016 as a key figure in the “Never Trump” movement but gradually shifted stance and became supportive of Trump.
According to CNN’s sources, Donald Trump Jr. pressed his father to choose Vance at the last minute.
The news follows Trump’s recent endorsement of crypto, including statements opposing the Biden administration’s strict treatment of crypto at events in Wisconsin and San Francisco. Trump now plans to attend the Bitcoin Conference in Nashville.
Elsewhere, the Republican National Convention (RNC) has added crypto to its platform, with the outline broadly matching Trump’s stance on the matter.
Trump also became the first presidential candidate to accept crypto donations in May.
His election odds rose over the weekend following a failed assassination attempt.
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