- Former U.S President Donald Trump survives an assassination attempt.
- Trump themed memecoin Maga soars by 40.81%.
The U.S. political scene is getting messy as the election is four months away. Former President Donald Trump has been a favorite of many to take over the presidency for months. Unfortunately, his campaign was marked by violence on 14th July as an individual tried to take his life.
The former president was shot at in a political rally in Pennsylvania. The gunshots were heard, with gunfire erupting while he was addressing his followers.
Luckily, the Secret Service quickly reacted, thus rushing him off the stage. After the incident, he was seen filled with blood on his left ear and head.
These events have received mixed reactions from the politicians and crypto community. For instance, crypto analysts and trader Michael van de Poppe reacted to the news connecting politics and crypto. On x page, he stated that,
“Trump pulling his fist after an assassination attempt on him has taken place. The world is falling in pieces. From today on, #Bitcoin has become a political statement, very likely”.
Trump memecoin MAGA soars
Equally, the crypto markets reacted immediately following the incident.
For starters, the Trump-themed meme coin MAGA surged by 40.81% on daily charts following the assassination attempt.
MAGA’s trading volume soared by 835.01% in the same period to $39 million. As of this writing, MAGA was trading at $8.76 with a 40% increase in market cap to $385M, according to Coinmarketcap.
Source: Coinmarketcap
Trump’s pro-crypto campaign trail
Although a long-time crypto critic, Trump has changed his tune to become the first pro-crypto presidential candidate in the U.S. During his time at the White House, he shared serious criticism about cryptocurrencies, arguing the dollar is the only global currency.
However, with the rising number of crypto voters, Trump changed the stand and started accepting crypto donations for his campaign.
In the latest remarks, he argued that BTC should be a strategic reserve asset while promoting BTC mining only in the USA. Therefore, an election win for Trump will make him the first U.S. president who is pro-cryptocurrency.
The failed assassination attempt has increased Trump’s odds to win the election. The U.S. will have the first pro-crypto president if the political scene remains unchanged.
According to investor WclementeIII, Trump’s chances are rising. He shared this on his X page, stating that,
“Trump’s odds of winning in November are skyrocketing in prediction markets.”
Source: X
Trump’s criticism of US anti-crypto laws
On the contrary, the Biden administration has ignored the calls for the crypto community with increased prosecution of crypto firms by the SEC.
Trump has taken this indifference as leverage and has promised to end “Biden’s hatred for Crypto.”
For the last 3 months, he has expressed concerns with the current administration regarding crypto, making him a staunch critic of Biden’s crypto policies.
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