Trump Found Guilty on All Charges; Biden Seizes Moment to Court Crypto Industry

  • Donald Trump has officially been found guilty on 34 counts of falsifying business records.
  • The verdict comes due to allegations against the former president for covering up “hush money” paid to Hall of Famer (yes, this is a real thing) Stormy Daniels.
  • Meanwhile, Biden has continued down the pro-crypto path the Democrats hinted at after passing a bipartisan fintech bill and prompting the SEC’s backflip on Ethereum ETFs.

The evidence that the universe cut off from its original path and is now making its way along an alternate timeline continues mounting. The number of bizarre occurrences – both in and outside the cryptosphere – seems to be at an all-time high. 

For example, we have a presidential candidate (love him or hate him) who’s just been found guilty on “34 counts of falsifying business records”. The news arrived earlier this morning that former president Donald Trump was convicted for covering up “hush money” payments to adult actress Stormy Daniels.

And to make matters even weirder, Joe Biden has used the distraction as a means to maneuver his way into the pro-crypto camp after years of apathy. 

The US electoral campaign never fails to entertain!


Related: American Voters Turn to Crypto as Bitcoin Becomes Election Issue, Grayscale Survey Finds

Biden A Potential Crypto Ally As Electoral Campaign Heats Up

Although Trump was found guilty earlier this morning, his sentencing is still quite some time away. Experts currently predict he will again face the courts on July the 11th, just a few days before he is expected to be named the Republican’s official presidential candidate for 2024.  

Even though he’s been found guilty, the case is far from over. Trump’s lawyers were quick to dismiss the trial’s outcome, laying down plans to fight the verdict over the coming weeks.

As always, the crypto meme community was quick to react to the Trump trial verdict. Popular meme coin MAGA (TRUMP) dropped substantially in the hours following the news – only to rebound to an all-time high immediately after.

MAGA (TRUMP), weekly graph, Source: CoinMarketCap

Strangely enough, all the brouhaha from the US presidential race is set to have major ramifications for the crypto industry. Trump’s outspoken support for digital assets has bled into the democratic party, with Biden’s government backflipping on its anti-crypto stance.

The shift began last week when the SEC tentatively approved spot Ethereum ETFs, after months of speculation that a rejection was incoming. And the Democrats have taken their newfound interest to another level, with Biden’s team now looking to implement progressive crypto regulations. They have opened discussions with several key industry players to better understand the space.

Although some are skeptical that Biden’s tone shift is legitimate, one thing’s for sure – all this political dog-whistling has secured cryptocurrency’s long-term future in the financial world.

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Ben Knight

Ben Knight

Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.

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