Cathie Wood’s vote is cementing Trump as a ‘pro-innovation’ crypto-friendly candidate

Trump’s potential reelection could mean more crypto-friendly regulation that could boost mainstream adoption.

• Donald Trump is becoming the pro-innovation candidate of choice for key cryptocurrency and traditional finance (TradFi) players.
• Ark Invest CEO Cathie Wood was the latest high-profile investor to share her endorsement of Trump for the 2024 presidential elections, saying that she will vote for “who’s going to do the best job for our economy.”
• Wood’s endorsement could further cement Trump’s status as a “pro-growth and pro-business” candidate for the November elections, according to Bitfinex Analysts, who exclusively told Cointelegraph:

Winklevoss twins, Bitcoin donations, signal more crypto support for Trump

• Adding to Trump’s endorsements, Gemini co-founders Cameron and Tyler Winklevoss have each pledged $1 million in Bitcoin (BTC) towards the reelection of the former U.S. president.
• In June 20 X posts, the Winklevoss twins said they planned to vote for the prospective Republican Party candidate, adding that Trump was “pro-Bitcoin” and “pro-crypto,” and President Joe Biden had “openly declared war against crypto” while in office.

Trump could introduce more favorable crypto regulation and bolster crypto adoption

• Trump’s potential reelection in November could be the beginning of a more innovation-friendly shift for the United States crypto industry that could boost mainstream adoption.
• According to Bitfinex analysts, Trump could also introduce more crypto-friendly regulations.

Despite the regulatory ramifications of the elections, it is important to remember that blockchain technology transcends political parties, according to Jason Allegrante, the chief legal and compliance officer of Fireblocks.