Bitcoin prices hit a six-week high after Donald Trump threw his weight behind the crypto industry, say Jack Simpson and Dan Milmo in The Guardian. The Republican presidential candidate told delegates at the Bitcoin 2024 conference in Tennessee that he would end the “persecution” of crypto by regulators. He also suggested that instead of selling bitcoin that is seized in police raids, the government could keep them as part of a national stockpile.
Trump’s pledge that “on day one” he will fire Gary Gensler, chair of the US Securities & Exchange Commission (SEC), drew particularly strong applause from the crowd. Gensler has described bitcoin as “primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion and terrorist financing”.
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