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Donald Trump has become the first US President to accept Bitcoin Lightning Network payments for his 2024 presidential campaign donations.[1][2][3][4][5] His campaign has partnered with OpenNode, a leading Bitcoin infrastructure provider, to facilitate these crypto contributions.[2][4]
At a recent Libertarian Party convention, Trump expressed his commitment to fostering a Bitcoin-friendly environment in the US and supporting the right to self-custody for the nation's 50 million crypto holders.[4] He also pledged to commute the sentence of Ross Ulbricht, founder of the Silk Road marketplace, to time served if elected.[4]
Trump's decision marks a major milestone in integrating Bitcoin into mainstream politics and contrasts with President Biden's skepticism towards cryptocurrencies.[5] It aims to court the over 50 million crypto enthusiasts and investors in the country.[5]
Sources [1] https://bitcoinmagazine.com/markets/trump-becomes-first-president-to-accept-bitcoin-lightning-payments-for-campaign-donations [2] Donald Trump Makes History by Embracing Bitcoin Payments for ... https://coinedition.com/donald-trump-makes-history-by-embracing-bitcoin-payments-for-campaign/ [3] Trump's 2024 Campaign Accepts Bitcoin Lightning Network Payments https://crypto.ro/en/news/trumps-2024-campaign-accepts-bitcoin-lightning-network-payments/ [4] Trump Accepts Bitcoin Lightning Network Payments for Donations https://cryptorank.io/news/feed/e5f51-trump-bitcoin-lightning-network-payments [5] Trump Becomes First President To Accept Bitcoin Lightning ... https://www.nasdaq.com/articles/trump-becomes-first-president-accept-bitcoin-lightning-payments-campaign-donations [6] Bitcoin Magazine - Bitcoin News, Articles and Expert Insights https://bitcoinmagazine.com
13 sats \ 0 replies \ @Ge 5 Jun
He still backs the dollar I'd be interested to see if he finally admits his support for bitcoin I got to see a statement from him directly
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Have they brought the limits down yet to less than $600?
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Does anyone worry that he might make these funds disappear? He isnt known for being frugal.
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Disappear as in theft?
Campaign donations are scrutinized especially in New York lol
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He can use them in any way he sees fit.
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No he cannot
Campaign donations must be used for a campaign not personal use
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He can rent a room in his hotel. He has done it before. For him, his security, and his family. All paid with the donations.
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It has to be related to his campaign
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Yes, I realize. He is using it for his campaign. Just when you are in the hotel business, and you run a tab up in your hotel... No conflict of interest, right?
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There is a conflict of interest but the reimbursement has to be within legal limits.
The conflict of interest can be worse like having your own charity or foundation
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Trump's 2016 presidential campaign paid millions of dollars to his own businesses, including for using his aircraft, compensating his relatives, and renting space in Trump properties like Trump Tower, his golf club, and Mar-a-Lago resort.[1] Such payments are legal as long as the campaign pays fair market value, but the scale of payments to Trump's own businesses was unprecedented.[1] The campaign paid at least $12.8 million to Trump's businesses by the end of 2016.[1]
While campaigns can pay for legitimate expenses, federal regulations prohibit using campaign funds for personal use like mortgage, rent, entertainment, country club fees, and some legal expenses unrelated to being a candidate.[2] However, Trump took the unusual step of declaring his 2020 re-election candidacy early, allowing him to continue receiving such payments indefinitely.[1]
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I am pretty sure open node is based in Los Angeles
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