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Trump's Crypto Support Unfazed By Guilty Verdict

Donald Trump has been found guilty on all 34 felony counts but the crypto market is still showing unwavering support

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Donald Trump has been found guilty on all 34 felony counts he faced including falsifying documents to cover up paying porn star Stormy Daniels to keep quiet.

While the unanimous verdict has wider implications for Trump's presidential campaign and even broader American political standards moving forward, it seems to have barely impacted his support from the crypto industry.

Trump memecoins initially took a bit of a dip but have already recovered. MAGA (TRUMP) slipped 35% but soared back again to reach an all-time high before returning to its previous day's price.

Another Trump-related coin, aptly named "FreeTrump," has skyrocketed over 430%.

Other Trump tokens that carry the "TRUMP" ticker rose more than 22% and 13%.

Blockchain-powered betting site Polymarket shows that the odds for Trump's presidency are still in his favour, among degens at least. Trump is shown to have 56% odds of winning, compared to incumbent President Joe Biden's 38%.

Meanwhile, for some reason, Robert F. Kennedy Jr has been making his rounds at the Consensus conference.

Commenting about Trump's pro-crypto stance, Kennedy said, "I'm happy about that. I think it's a good thing for our country. Commitment to crypto is a commitment to freedom and transparency. I'm not going to question if it was a political decision. I'm happy he did it, and I hope President Biden does, too."

Last weekend Trump spoke at the Libertarian National Convention, vowing to protect self-custody rights for the crypto holders.

Prior to his speech, he posted on Truth social media that he is "very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry."

"Our country must be the leader in the field, there is no second place,” he added.

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Earlier this month, Trump met with the buyers of his Mugshot Edition NFTs. Invitees to the dinner each bought more than 47 NFTs each, priced at $99.

At the event, Trump was asked if people can donate to his campaign with crypto. “If you can’t, I’ll make sure you can,” Trump responded. “Can we donate to the Trump campaign using crypto? I believe the answer is yes.”

"If you're in favor of crypto, you'd better vote for Trump," he said.

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Trump is even considering turning to Elon Musk for cryptocurrency policy advice, according to Bloomberg. Although Musk hasn't been approached yet, Trump campaign officials have discussed inviting the Tesla CEO and Dogecoin fanatic to speak at the Republican convention.

"Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do," Musk tweeted.