Donald Trump to address Bitcoin 2024 conference on July 27

Bitcoin conference 2024: Former US President and current Republican presidential candidate Donald Trump will speak at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, according to the event organizers.

Trump, who is contesting the November US presidential election against Democratic incumbent Joe Biden, positioned himself as a proponent of cryptocurrencies during a San Francisco fundraiser in June. He criticized Democratic efforts to regulate the sector.

The cryptocurrency industry is increasingly seeking to influence US politicians amidst heightened regulatory scrutiny following the 2022 bankruptcies of major crypto firms. These events spooked investors, exposed fraud and misconduct, and resulted in significant financial losses for millions of investors.

"Trump announced his support for the American Bitcoin industry in May 2024, advocating for financial freedom and the growth of the US Bitcoin industry on the global stage," stated the conference organizers on their website, highlighting Trump as the main headliner of the event.

Trump also recently expressed his desire for increased bitcoin mining by US firms. "We want all the remaining Bitcoin to be MADE IN THE USA," Trump posted on his Truth Social platform in June.

Executives from crypto exchange Coinbase, crypto investor twins Tyler and Cameron Winklevoss, and other industry leaders attended a tech fundraiser in San Francisco in June, where Trump raised $12 million.

The Biden administration has indicated a willingness to work with Congress to develop a regulatory framework for cryptocurrencies.

(With Reuters inputs.)