Former President Donald Trump, despite being convicted on 34 felony counts for falsifying business records, is continuing his pro-crypto presidential campaign without any signs of slowing down.
The Guilty Verdict
- Date of Verdict: May 30
- Charges: Falsifying business records related to hush money payments to adult film star Stormy Daniels during the 2016 presidential campaign.
- Sentencing Date: July 11
- Legal Perspective: Legal experts, including NBC News and MSNBC analyst Chuck Rosenberg, affirm that Trump can still run for president despite his conviction. The U.S. Constitution only requires presidential candidates to be natural-born citizens, at least 35 years old, and have lived in the U.S. for 14 years. There are no restrictions for individuals with criminal convictions running for office.
Pro-Crypto Campaign Momentum
- Robert F. Kennedy Jr.’s View: Trump’s opponent in the presidential race, Robert F. Kennedy Jr., suggested that the guilty verdict might actually increase Trump’s support among many Americans. He also acknowledged Trump’s shift to a pro-crypto stance, considering it a positive development despite his reservations about Trump.
- Election Odds: Despite the conviction, Polymarket odds indicate that Trump’s chances in the upcoming election remain strong at 56%.
Historical Context
- Eugene Debs: In 1920, Eugene Debs ran for president from prison as the Socialist Party of America’s nominee but only won 3% of the popular vote. Unlike Debs, Trump remains a serious contender in the 2024 race.
Legal Implications
- Complex Legal Questions: Trump’s potential presidency while serving a sentence raises complex legal questions about the enforceability of a state sentence against a sitting president. Chuck Rosenberg described it as a “really, really hard question.”
Impact on Trump-Related Digital Assets
- Digital Trading Cards: The “Trump Digital Trading Card Collection” saw a 99% drop in trading volume ahead of the trial, showing the close connection between Trump’s legal issues and market performance.
- Political Memecoins: Following the conviction announcement, political memecoins associated with Trump experienced significant volatility.
- FreeTrump ($TRUMP): Surged 540%.
- Jeo Boden (BODEN): Fell 8.9%.
- MAGA (TRUMP) and MAGA VP (MVP): Initially fell but have since partially recovered, with MAGA up 6% and MAGA VP down 5%.
Conclusion
As the November election approaches, Trump’s pro-crypto campaign continues unabated, despite the legal challenges and their impact on related digital assets. His conviction adds an unprecedented dimension to the race, but it appears to have little effect on his determination to run for president and maintain his pro-crypto stance.
References:
- NBC News and MSNBC Legal Analyst Chuck Rosenberg
- Polymarket Election Odds
- CryptoSlate Data on Political Memecoins
This structured approach highlights key points about Trump’s ongoing presidential campaign, the legal context, historical parallels, and the impact on digital assets linked to Trump.
