- Former US President Donald Trump survived an assassination attempt.
- Trump-themed meme coin Maga surged 40.81%.
As the election approaches in four months, the political scene in the United States is in turmoil. Former President Donald Trump has been the favorite candidate for the presidency for months. Sadly, his campaign was marred by violence on July 14 when an individual attempted to take his life.
The former president was shot at a political rally in Pennsylvania. Gunshots were heard and shots were fired as he addressed his followers.
Luckily, Secret Service was quick to respond and removed him from the stage. After the incident, he was found with blood pooling around his left ear and head.
These events have received mixed reactions from politicians and the crypto community. For example, Michael van de Poppe, a crypto analyst and trader, reacted to the news linking politics and cryptocurrencies. On Page x, he said:
“Trump is pulling his fist out after an assassination attempt. The world is falling apart. Starting today, #Bitcoin is very likely to become a political statement.”
Trump Memecoin MAGA Surge
The cryptocurrency market also reacted immediately after the incident.
First off, the Trump-themed meme coin MAGA has surged 40.81% on the daily chart following the assassination attempt.
MAGA’s trading volume has soared 835.01% over the same period, reaching $39 million. At the time of writing, MAGA is trading at $8.76 and its market cap has increased 40% to $385 million (according to Coinmarketcap).
Source: Coinmarketcap
Trump’s Cryptocurrency Campaign
President Trump has long been a critic of cryptocurrencies, but he has since changed his stance and become the first U.S. presidential candidate to support cryptocurrencies. While in the White House, he has been a vocal critic of cryptocurrencies, claiming that the dollar is the only global currency.
But as cryptocurrency support grew, Trump changed his stance and began accepting cryptocurrency donations for his campaign.
In recent remarks, he has argued that BTC should be a strategic reserve asset and that BTC mining should be encouraged only in the U.S. Therefore, if Trump wins the election, he will become the first U.S. president to support cryptocurrency.
The failed assassination attempt has increased the odds that Trump will win the election. If the political situation remains the same, the US will have its first pro-crypto president.
According to investor WclementeIII, the odds are looking up for Trump. He shared this on Page X, saying:
“Trump’s odds of winning in November are rising dramatically in the prediction markets.”
Source: X
Trump criticizes US anti-cryptocurrency law
In contrast, the Biden administration has ignored the crypto community’s demands, including for the SEC to step up prosecutions of crypto companies.
Trump used this indifference as leverage to promise to end “Biden’s hatred of cryptocurrencies.”
He has been raising concerns about cryptocurrencies with the current administration for the past three months, making him a vocal critic of Biden’s cryptocurrency policies.