{"id":51960,"date":"2024-11-07T01:05:00","date_gmt":"2024-11-07T01:05:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/trump-declares-victory-crypto-community"},"modified":"2024-11-07T04:20:08","modified_gmt":"2024-11-07T04:20:08","slug":"crypto-community-celebrates-trumps-election-victory","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51960","title":{"rendered":"Crypto community celebrates Trump\u2019s election victory"},"content":{"rendered":"

The cryptocurrency community is celebrating the victory of former President Donald Trump in the 2024 United States presidential election while officials are finalizing election results.<\/p>\n

Trump, the Republican candidate, declared victory on election night, Nov. 6, pledging to usher in a \u201cgolden age\u201d for America.<\/p>\n

\u201cI\u2019m excited to be your 47th and your 45th president,\u201d Trump said during what appeared to be a victory speech.<\/p>\n

\"Donald
Live 2024 US presidential election results. Source: Associated Press<\/em><\/p>\n<\/figcaption><\/figure>\n

At the time of writing, Trump has 277 electoral college votes \u2014 more than the 270 required to win \u2014 according to the Associated Press. Meanwhile, his Democratic opponent, Vice President Kamala Harris, has 224 electoral votes. Harris now has no viable path to victory in the election.<\/p>\n

International leaders, including French President Emmanuel Macron, have begun congratulating Trump on his anticipated win. The crypto market is also responding to the election outcome.<\/p>\n

Trump\u2019s crypto promises<\/h2>\n

Trump\u2019s win is a promising sign for the cryptocurrency industry in the US, as Trump has repeatedly expressed support of crypto and branded himself as a pro-crypto candidate.<\/p>\n

Trump has repeatedly promised to end the war on crypto if elected and promised to make the US the \u201ccrypto capital of the planet\u201d if he wins the presidential election.<\/p>\n

In July, Trump headlined the Bitcoin 2024 conference in Nashville, Tennessee, where he pledged to fire current US Securities and Exchange Chair Gary Gensler on his first day back in office. SEC Commissioner Hester Peirce, who\u2019s known for her supportive stance on crypto, is believed to be a potential contender to take Gensler\u2019s spot.<\/p>\n

Trump also promised to launch a strategic Bitcoin (BTC) reserve in the US to make sure that the US government holds 200,000 BTC acquired from enforcement actions.<\/p>\n

In line with his pro-Bitcoin stance, Trump also made big promises to the crypto mining in the US, repeatedly voicing his strong support of the industry and willingness to make the US a global leader in Bitcoin mining.<\/p>\n

Crypto industry actively supports Trump<\/h2>\n

The cryptocurrency community has been largely supporting Trump over Harris despite Trump\u2019s U-turn on Bitcoin.<\/p>\n

The founders of major US crypto exchanges like Gemini and Kraken publicly endorsed Trump, donating millions to support him as the \u201conly pro-crypto candidate.\u201d<\/p>\n

Related:<\/strong><\/em> Trump win, \u2018regulatory sanity\u2019 is bad news for memecoins: Professor<\/strong><\/em><\/p>\n

Notable figures supporting Trump\u2019s campaign include Cardano founder Charles Hoskinson, BitGo CEO Mike Belshe, Tron founder Justin Sun, and Bitcoin Foundation founder Charlie Shrem.<\/p>\n

Bitcoin breaks historic records amid Trump\u2019s election lead<\/h2>\n

Amid growing optimism over Trump\u2019s victory in the election, the crypto market has made a historic reaction, with Bitcoin breaking past its historical highs and briefly touching $75,000 on Nov. 6.<\/p>\n

Currently, Bitcoin is trading at $73,580, marking a 7% increase over the past 24 hours, according to CoinGecko.<\/p>\n

\"Donald
Bitcoin all-time price chart. Source: CoinGecko<\/em><\/p>\n<\/figcaption><\/figure>\n

While Bitcoin is approaching all-time highs, the total cryptocurrency market capitalization is approximately $2.6 trillion, per CoinGecko data. The market reached its peak value in November 2021, surpassing $3 trillion.<\/p>\n

Magazine:<\/strong><\/em> Bitcoiners are \u2018all in\u2019 on Trump since Bitcoin \u201924, but it\u2019s getting risky<\/strong><\/em><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency community is celebrating the victory of former President Donald Trump in the 2024 United States presidential election while officials are finalizing election results. Trump, the Republican candidate, declared victory on election night, Nov. … Crypto community celebrates Trump\u2019s election victory<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51963,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-51960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nCrypto community celebrates Trump\u2019s election victory - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51960\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto community celebrates Trump\u2019s election victory - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The cryptocurrency community is celebrating the victory of former President Donald Trump in the 2024 United States presidential election while officials are finalizing election results. 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