Former President Donald Trump's Political Action Committee (PAC), Save America, has raised approximately $7.5 million in cryptocurrency donations. This funding comes as Trump faces mounting legal expenses, including indictments and trials that have racked up substantial costs. With cryptocurrency becoming a significant avenue for fundraising, Trump's campaign capitalizes on the decentralized and borderless nature of crypto to support his legal battles and 2024 campaign aspirations.
The PAC has relied heavily on donations from Trump supporters, with digital currencies providing a novel method for contributors who wish to stay anonymous or avoid traditional financial channels. This influx of crypto donations marks a significant shift in how political campaigns, especially on such a large scale, are funded.
Amid this fundraising effort, the PAC has also faced scrutiny over its handling of funds, with legal experts raising questions about the transparency and ethical concerns surrounding the use of cryptocurrency in politics. However, crypto's appeal remains strong for political fundraising, given its quick transfer capabilities and the global nature of the digital asset market.
By leveraging crypto, Trump’s team taps into a financially savvy supporter base that views cryptocurrency as a viable financial alternative. This funding comes as Trump fights both legal challenges and his quest for the 2024 presidential run, demonstrating the growing importance of crypto in the U.S. political landscape.
Also Read: Donald Trump's Election Chances Surge by 8.6%, Crypto Bettors Bet Big
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About the Author:
Sachin Kumar
