The re-election team of the US President Joe Biden is reportedly considering accepting crypto donations for the election campaign.
According to a report from the Block, sources close to the election campaign team noted that discussions are ongoing with crypto businesses regarding accepting crypto donations via Coinbase Commerce.
One source who works with politicians told the publication that they want to show that “they’re not the enemy.”
“They’re paying attention to issues around crypto and are trying to find quick wins to show that they’re supportive of the industry.”
In May, Biden’s election campaign team called for financial aid “to keep up with his Republican.” In a screenshot that went viral, Biden’s campaign team appeared to have messaged followers warning them of how Trump campaign receives sheer size of donations.
Biden admitted that Trump’s election campaign was “outraising” his own, backed by crypto executives.
The report revealed that Biden’s close acquaintances are specifically advocating Biden’s campaign team, “if you’re quiet on this crypto thing and you don’t get up to speed, you could lose the election.” The source however stressed that crypto donations are still at the “exploratory” stage and Biden’s team is considering it.
Trump’s Crypto Donation Embrace and Promise
Donald Trump, the presumptive Republican presidential nominee, started accepting election campaign donations last month, through his crypto fund raising page. The page accepts donations in several crypto assets including Bitcoin, (BTC), Ether (ETH), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB), Ripple (XRP), USD Coin (USDC) and Ox (ZRX).
The former US President purportedly affirmed his commitment to cryptocurrency, promising to become a “crypto president.” His comments came during a recent fundraising event in San Francisco.
Early this month, Trump also made a promise to grant a presidential pardon to Ross Ulbricht, the founder of Silk Road, if he is re-elected.