Justin Sun, Tron’s blockchain founder, has called on the crypto community to support a pro-crypto candidate in the forthcoming US presidential elections in November.Sun made this appeal in a May 26 social media post, emphasizing the importance of aligning with a candidate who endorses cryptocurrencies to ensure the industry’s voice is heard and interests protected. He said:“We should support a presidential candidate who endorses cryptocurrencies. We need to demonstrate to the candidate that the cryptocurrency community, companies, and protocols are significant stakeholders whose voices should be heard and whose interests should be protected.”So, the upcoming election presents a crucial opportunity for the crypto community to influence the regulatory environment by backing a candidate who supports the industry’s growth and integration into the broader economy.Sun’s statement comes amid a changing regulatory landscape in the US regarding cryptocurrencies.Recently, crypto has become a hot political topic, with bipartisan support for two crypto-related bills—SAB121 and the FIT21 Act. These bills aim to enhance the industry’s regulatory framework and provide the necessary clarity for it to thrive.Additionally, the traditionally crypto-skeptic Securities and Exchange Commission (SEC) unexpectedly approved spot Ethereum exchange-traded funds (ETFs) 19-b filings, marking a pivot from its previous stance on the asset.Stakeholders see these developments as a significant shift for President Joe Biden‘s administration, which previously favored strict regulation of the emerging industry. The White House has also shown interest in collaborating with Congress on effective crypto regulations.Experts attribute these changes to former President Donald Trump‘s newly acquired pro-crypto stance, which has bolstered his re-election prospects. According to Polymarket, Trump has a 56% chance of winning the election, compared to Biden’s 38%. While Trump was president, he was overtly against crypto, calling it “based on thin air.”In recent months, Trump’s chances have risen following a series of pro-crypto actions and statements. This weekend, the former president said the United States must be a leader in the crypto sector while pledging to release the imprisoned founder of Silk Road, Ross Ulbricht. Furthermore, his re-election campaign now accepts crypto donations in various digital assets, including Bitcoin, making him the first major candidate to do so.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Join our X community for real-time crypto news and expert insights.Courts dismissed the case without prejudice, leaving Musk an option to refile the case at a later date.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.HackaTRON Season 6 attracted over 1,100 participants, with a prize pool of $650,000 in TRX and energy.TRON Whale Night 2024 featured signature cocktails, live music, and 400+ industry leaders convening for exclusive blockchain networking.LayerZero integration unlocks seamless cross-chain interactions and expands dApp deployment for TRON developers.Halving aims to optimize node performance and introduce BTFS v3.0 Mainnet for enhanced functionality.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
