Biden Receives Crypto Donation Through Coinbase, Crypto Community Gives Explanation

JAKARTA - President Joe Biden's re-election campaign sparked debate. Plans to accept digital asset donations through Coinbase have sparked mixed reactions, highlighting the complex dynamics between politics, regulation, and the growing crypto community.

With eyes set on crypto voters, the Biden team appears to be trying to embrace the political potential of digital assets. A report from The Block reveals that discussions with Coinbase Commerce are ongoing, signaling strategic steps to approach a voter base that may have previously been ignored.

However, this initiative is not without irony. Last year, the SEC under Biden administration demanded Coinbase, accusing the platform of offering unregistered securities. Now, the decision to accept crypto donations raises questions about the consistency and integrity of government policies towards the crypto industry.

Reactions from the crypto community to this news vary, ranging from disappointment to open ridicule. Quoted from CryptoPotato, founder of Crypto Capital Venture, Dan Gambardello, voiced frustration by stating that the previous government's actions seemed to contradict this latest move. Meanwhile, Ethereum Anthony Sassano used the term catcher world' to describe this paradoxical situation.

Nic Carter of Castle Island Ventures and crypto attorney Joe Carlasare also highlighted a clear contradiction between SEC lawsuits and Biden's campaign efforts to gain support from the crypto community.

Meanwhile, on the other hand, Donald Trump took advantage of the momentum to strengthen his position as a supporter of the crypto industry. By expressing his desire to concentrate on Bitcoin production in the US, Trump offers a narrative that is contrary to the attitude taken by Biden administration.