Biden Suddenly Following Trump? Sources Say Democrats Considering Accepting Cryptocurrency Donations!

Insiders have revealed to the blockchain media outlet The Block that U.S. President Biden's campaign team is in talks with cryptocurrency industry participants to accept cryptocurrency donations through Coinbase Commerce. A few weeks ago, Republican presidential candidate Trump accepted cryptocurrency donations.

Coinbase Commerce is a service that allows merchants to accept payments in dozens of cryptocurrencies and has already facilitated cryptocurrency donations for Trump's campaign.

According to sources who requested anonymity due to the sensitivity of the discussions, this move represents Biden's campaign team’s latest effort to garner support from cryptocurrency enthusiasts ahead of the election.

Some congressional experts believe the election outcome will be decided by a narrow margin. A source told The Block that the Biden team might be seeking funds from well-off cryptocurrency supporters to bolster their campaign finances.

A source working with political figures and cryptocurrency industry leaders mentioned, "They are paying attention to issues in the crypto industry and trying to find a quick win to show they support the industry and are not its enemy."

As first reported by The Block last month, shortly after Biden's political opponent Trump made headlines by reversing his stance to support cryptocurrency, Biden’s campaign team has ramped up engagement with the cryptocurrency community in recent weeks.

Multiple sources indicate that the campaign team has since increased its efforts to promote crypto-related messages.

This is particularly true after President Biden faced strong opposition for vetoing a bipartisan push to repeal SAB 121.

SAB 121 is a controversial legislative measure criticized by crypto supporters for hindering the industry's development in the U.S.

An insider disclosed, "People close to Biden are now clearly telling the campaign team that if they remain silent on the cryptocurrency issue and do not keep up, they could lose the election."

He emphasized that discussions about the Biden camp accepting cryptocurrency donations are still in an "exploratory" phase.

Cryptocurrency-supporting donors are also mobilizing, drawing attention from political candidates on both sides.

In May, consumer advocacy organization Public Citizen cited Open Secrets data reporting that cryptocurrency-backed super PACs have raised $100 million.

Sources told The Block that it is certain how this money is allocated and to whom it is donated will be crucial, as voting patterns often align with the funding sources of wealthy donors.

One source remarked, "People seek money, and they seek every vote."