Former United States President and candidate for re-election, Donald Trump, has vowed to become “the crypto president” should he be re-elected. He will reverse the anti-crypto policies advanced by Joe Biden, and the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler warned that their policies “will grind to a halt within one hour of a second Trump administration.”

Trump Sees Himself as ‘the Crypto President’

U.S. presidential candidate and the 45th President Donald Trump reportedly cast himself as a staunch supporter of cryptocurrency and castigated Democratic regulatory initiatives to rein in the industry during a significant San Francisco fundraiser last Thursday; the news agency reported citing three people familiar with the event. Co-hosted by venture capitalist Chamath Palihapitiya, the event was held at the Pacific Heights home of billionaire investor David Sacks and raised $12 million. Trump told the room he’d be “the crypto president,” according to tech exec and former Trump ambassador to Austria Trevor Traina.

At a recent event, Donald Trump was surrounded by influential figures in the cryptocurrency world. The room was filled with cryptocurrency titans, including officials from the Nasdaq-listed crypto exchange Coinbase and the founders of Gemini, Tyler and Cameron Winklevoss. The public has been made aware of the cryptocurrency investments of David Sacks and Chamath Palihapitiya, among others in their investment networks, with a focus on Bitcoin. This event marked a significant moment for Trump, as it was his first major appearance since his imprisonment on 34 felony charges.

The recent investment lobbying around the crypto industry has recently increased its U.S. political influence as regulators increase their interest in it. Since leaving office, Trump has been actively courting the crypto sector—most recently, pledging to stop President Joe Biden’s crusade to crush crypto and ensure the future of bitcoin and other cryptocurrencies will be shaped in the U.S. and not driven overseas.

This is added on even further by Chris Giancarlo, former chairman of the Commodity Futures Trading Commission, who claims Trump to be America’s first crypto president based on his approval for bitcoin futures exchange-traded funds during his administration. Earlier, Trump attacked Biden’s knowledge of cryptocurrencies and appealed to supporters of the asset to support his re-election. In fact, in March, he called bitcoin “another currency”; in February, he also agreed that the asset had gathered much popularity, saying that he “can live with it.” He was asked for a comment following the news.

Speaking of the Securities and Exchange Commission (SEC) ‘s tendency to regulate the crypto industry and the Chair of the Commission, who is in favor of enforcement measures, Jacob Helberg, an advisor to Palantir, said: “President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration.”