The chief executive officer of Bitcoin Magazine, David Bailey, is apparently in charge of organizing a fundraising event for the reelection campaign of former President Donald Trump, to raise $15 million. According to sources that were cited by the Washington Post, the event is scheduled to take place later this month, which may come in conjunction with or shortly after the Bitcoin Conference that will be held in Nashville.
Additionally, it is anticipated that the event will take place at the same time that Trump will be officially nominated as the presidential candidate of the Republican Party at the Republican National Convention. Trump has not wavered in his determination to deliver a speech at the Bitcoin Conference in Nashville, Tennessee, even though he survived an attempt on his life on July 13 and was attending a rally in Pennsylvania. Bailey provided attendees with reassurances of the former president’s health and also verified that Trump would be attending the event in a recent post on X.
In May, Trump was found guilty of 34 counts of felony for fabricating business documents. This conviction was one of the main legal hurdles that Trump has faced. Nevertheless, a recent judgment from the Supreme Court, which was led by conservatives, has the potential to challenge that conviction. Trump’s sentence is slated for September, which is just a few weeks before the election in the United States.
It is interesting to note that Trump’s recent shift in opinion on cryptocurrencies corresponds with his growing popularity within the cryptocurrency sector. After having previously referred to Bitcoin as a “scam,” he recently made a promise on June 14 to put a stop to the war on crypto that the Biden administration is waging if he is elected. In response to Vice President Biden’s critical position on cryptocurrencies, President Trump has said that the United States needs to strive to be the leader in the cryptocurrency market.
According to a survey conducted by Harris Poll, one in three voters in the United States takes into consideration a candidate’s stance on cryptocurrencies when casting their vote. Another study conducted by Paradigm, a renowned venture capital business in the cryptocurrency industry, reveals that the cryptocurrency community is strongly supporting Trump for the presidential election in the United States in 2024.
Record Trading Volumes Favor Trump in Prediction Markets
In addition, the prediction markets are tilting in favor of Trump, with the most recent statistics indicating that he has a 69% chance of winning. President Joe Biden comes in second with a 19% chance of winning, Vice President Kamala Harris with a 6% possibility, and former First Lady Michelle Obama with a 2% chance. Polymarket, a decentralized platform for making predictions, has witnessed record trade volumes as a result of the forthcoming election.
The site registered a volume of $116.4 million in the first half of July alone, beating the previous high of $111.5 million in June. A staggering $263.5 million has been placed by political traders jointly on the prediction of the outcome of the election in the United States that is scheduled to take place on November 4.
Recently, Polymarket successfully completed a Series B investment round with a total of $70 million. The funding round was led by Peter Thiel’s Founders Fund, and significant personalities like Vitalik Buterin, who was one of the co-founders of Ethereum, contributed to the funding.
Personal Note From MEXC Team
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