Trump Discusses Policy, Federal Reserve, and NFT in Interview
Following the shocking shooting incident, Bloomberg Businessweek published an interview record with Donald Trump. In the article, Trump talked about his election policies, US-China relations, government appointments, and cryptocurrencies, including NFT.
Trump Talks About Reappointing Federal Reserve Chairman
First, Bloomberg mentioned the issue of investor concern regarding the reappointment of the Federal Reserve Chairman. Trump responded by stating that if Chairman Powell is doing the right thing, he would extend his term until 2028. He believes that the Fed must maintain the current interest rates until the US economy recovers, as a recession and inflation are detrimental to the country.
Trump predicted that although it may not be suitable at the moment, the Fed might attempt to lower interest rates before the US election in November. However, it would be challenging to start lowering rates in the short term unless the government reduces other costs related to interest. Trump has prepared a plan to reduce energy costs to address this issue.
Trump Plans to Release a Fourth NFT
During the interview, Trump also mentioned the success of his previous NFT releases, which sold out within a day each time. He has sold a total of 45,000 NFTs, with 80% of payments made using cryptocurrencies. He stated, “I have done it three times, and I plan to do it again because people want me to.”
Trump expressed that through issuing NFTs, he has noticed the novelty of cryptocurrencies as a “new currency” and has been fascinated by it. However, in 2019, Trump was a staunch opponent of Bitcoin, criticizing it as not being real money and being highly unstable. It was not until the 2024 US election year that Trump suddenly changed his stance, but he still ultimately hopes for the US dollar to remain the global reserve currency.
OpenSea NFT Platform Data Shows Surge in Trump NFT Trading
Data shows that after the Trump shooting incident, Trump Digital Trading Cards NFT trading volume surged by 916%. The NFT floor price also skyrocketed from around $210 to a high of $489, with a cumulative increase of over 130%.
What Is Trump’s Purpose in Embracing the Crypto World?
Why did Trump, who previously criticized Bitcoin, start embracing the crypto world? He revealed during the interview that if the US does not take action, China might take the lead: “If we don’t do it, China will pick it up, and they are very enthusiastic about cryptocurrencies.”
After getting involved in the crypto world, Trump has also gotten to know many industry professionals. He believes that the US has a solid foundation and that this field is still in its early stages. He mentioned Jamie Dimon, the CEO of JPMorgan Chase, saying that he used to have a negative attitude towards cryptocurrencies but has now changed his views.
Trump Raises $8.75 Million in Political Fundraising
According to CoinDesk, data from a Super PAC shows that an elite group consisting of venture capitalists, business giants, and technology executives has donated a total of $8.75 million to Trump.
The latest documents reveal that the donors include Douglas Leone, former managing director of Sequoia Capital, Joe Lonsdale, co-founder of Palantir, and Troy Link, CEO of Jack Link’s, among others.
Some of these donations were made using cryptocurrencies. Jesse Powell, the founder of prominent exchange Kraken, stated that he donated $1 million, with most of it in Ether ($ETH). The Winklevoss twins, founders of exchange Gemini, also successfully donated $250,000.
As previously reported by “Crypto City,” Trump announced that crypto-friendly Senator J.D. Vance would be his running mate for vice president, further demonstrating Trump’s support for cryptocurrencies.
This article is a collaborative reproduction from Crypto City.