Crypto is Trump’s new weapon against Biden

Donald Trump is making presidential history all over again: He’s poised to be the first major party nominee to court cryptocurrency traders. It’s leaving some Democrats feeling uneasy.

Trump told crypto backers at Mar-a-Lago on Wednesday that they “better vote” for him because of the way the Biden administration has unleashed a regulatory crackdown on the industry.

“They are against it,” he said at an event promoting his own non-fungible token, or NFT.

Trump’s overt play for the crypto faithful is a big shift from the criticism he dished out in his first term, but it’s not unexpected. The GOP has become increasingly friendly toward bitcoin and other digital assets in recent years, while key Democrats remain at odds over whether to grant the industry legitimacy after a series of scandals. Trump’s direct embrace is a landmark moment for crypto firms that have undertaken an intense Washington lobbying effort and are spending tens of millions of dollars to influence the 2024 elections.