Donald Trump Vows to Fire SEC Chair on First Day if Re-Elected: Keynote Speech at Bitcoin 2024 Event
Former President Donald Trump made headlines at one of the largest cryptocurrency events of the year, Bitcoin 2024, where he declared his intentions to shake up the industry if he is re-elected as president. Speaking to a crowd of industry heavyweights in Nashville, Tennessee, Trump vowed to fire the chairperson of the US Securities and Exchange Commission (SEC) on his first day back in office.
The Republican presidential candidate used the event as a platform to court voters and solicit campaign donations from the tech community. Cryptocurrency has become a political battleground, with Trump accusing the Democratic Party and Vice-President Kamala Harris of being “against crypto”.
The audience erupted in cheers when Trump announced his plan to dismiss SEC chair Gary Gensler, who has led a crackdown on the crypto industry, calling it a haven for “hucksters”. Trump promised to make the US the cryptocurrency capital of the world and proposed creating a “national Bitcoin stockpile” with government-held or acquired Bitcoin.
In a surprising turn of events, Trump, who previously labeled Bitcoin as a “scam” affecting the US dollar, now pledges his support for the industry. He also revealed plans to establish a Bitcoin and crypto presidential advisory council and build power plants using fossil fuels to mine cryptocurrency.
Tech leaders like Elon Musk and the Winklevoss twins have thrown their support behind Trump’s campaign, with Musk endorsing him and the twins attending his speech at Bitcoin 2024. Trump boasted about receiving $25 million in cryptocurrency donations since allowing crypto transactions for his campaign, although he did not specify the breakdown of payments.
The event also saw the presence of other notable figures, including Republican lawmakers and Democratic Party members, highlighting the bipartisan interest in the future of cryptocurrency regulation. With the 2024 election looming, Trump’s bold statements at Bitcoin 2024 have set the stage for a heated debate on the role of cryptocurrency in politics.
