Dark-Horse Trump Rival Pumps Crypto, Aims to Make US a Bitcoin Nation

By CCN: Far from a first, California Democrat Rep. Eric Swalwell is accepting Bitcoin donations for his dark-horse bid to knock off Donald Trump in the 2020 presidential election. More significantly, the bombastic congressman wants to usher in a blockchain revolution after he vanquishes Trump from the White House.

Altogether, Swallwell is accepting six cryptocurrencies. Two of the six are odd choices. One of them is the White Standard, a stablecoin we hadn’t previously heard of which reports $0 in USD reserves. The White Company runs his crypto campaign contribution site, which probably explains that decision. The other is Bitcoin SV, the embattled project of Craig S. Wright, who insists he is Satoshi Nakamoto despite mounting evidence to the contrary.

The rest of the options are pretty standard: Stellar, Bitcoin, Bitcoin Cash, and Ether.

Eric Swalwell: Pro-Blockchain, Anti-Gun

Swalwell reportedly has gun control at the heart of his presidential ambitions, but blockchain adoption features prominently as well.

[embedded content]

[youtube https://www.youtube.com/watch?v=JCg4DphJ2YU?feature=oembed&w=680&h=383]

Swalwell says:

“Blockchain can change the world if we let it. […] Our nation pioneered the Internet. We use smartphones all day every day to move money, to buy goods and services, to share our innermost thoughts, and participate in public life. So it’s pure cognitive dissonance to believe that we cannot extend this further into our democracy and our economy.”

Andrew Yang is also accepting crypto donations. Both Yang and Swalwell are long-shot candidates to even get in the race against Donald Trump, with favorites like Joe Biden and Bernie Sanders leading the democratic polls.

Second Democrat to Accept Crypto This Season

Andrew Yang, Bitcoin, Cryptocurrency

Andrew Yang, another dark-horse Democratic Trump challenger, has also catered to the admittedly-small “Bitcoin vote.” | Source: Shutterstock

While Eric Swalwell offers broad “support” for blockchain technology, Yang has released an entire policy platform based on the idea that crypto will reinvigorate the US economy. Yang is also a proponent of a universal basic income.

Swalwell will not accept “corporate PAC” money, a campaign tactic that elevated fellow Democrat Alexandria Occasio-Cortez to quick stardom and constant criticism.

For several years, politicians have capitalized on the crypto sector’s desire to have a well-regulated and established crypto economy in the United States, with little improvement in the regulatory environment. Our crypto regulations are so bad that Jeremy Allaire recently blamed them, in part, for the firing of thirty employees at Circle.

Trump Has Done Nothing for Crypto Users

donald trump, bitcoin

Trump’s presidency has done little to improve the regulatory predicament that ensares US crypto firms. | Source: AP Photo/ Evan Vucci

The bipolar nature of the federal government’s reaction to cryptocurrency has allowed other countries, like France and Malta, to take charge and become a home for major crypto companies. One day we hear of the Token Taxonomy Act‘s reintroduction; another day, we hear a senior Democrat talking about banning all cryptocurrencies.

It’s worth noting that experts believe a summary ban on cryptos and crypto-trading would give rise to an extreme price bump for cryptocurrencies like Bitcoin. Demand would increase, in part because of reduced financial freedom.

The more things change, the more they stay the same. Donald Trump‘s presidency has done next-to-nothing for the crypto economy. Running on a pro-blockchain platform may be a useful means for Democrats to attract otherwise conservative votes, but it’s doubtful that the demographic as a whole is large enough to sway the vote.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022

CryptoCurrencyUSDChange 1hChange 24hChange 7d
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
Solana42.12 0.56 % 2.22 % 3.81 %
? --- 0.00 % 0.00 %

Bitcoin (BTC) $ 21,366.00
Ethereum (ETH) $ 1,698.44
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 285.52
Binance USD (BUSD) $ 1.00
XRP (XRP) $ 0.343825
Cardano (ADA) $ 0.464291
Solana (SOL) $ 37.07
Dogecoin (DOGE) $ 0.069668