Trump Announced Vance as V.P. Candidate

Former President Donald Trump announced on Monday via his Truth Social account that he has selected Ohio Senator J.D. Vance as his vice presidential candidate for the 2024 election. Trump praised Vance's military service, academic achievements, and career in technology and finance.

"J.D. has had a very successful business career in Technology and Finance, and now, during the Campaign, will be strongly focused on the people he fought so brilliantly for, the American Workers and Farmers in Pennsylvania, Michigan, Wisconsin, Ohio, Minnesota, and far beyond," he wrote.

Vance's Crypto Advocacy

Vance, a Yale Law School graduate and author of 'Hillbilly Elegy,' has been a vocal supporter of Bitcoin since his election to the Senate in 2022. His advocacy for digital assets is evident through his legislative efforts.

Vance has introduced and supported legislation in the Senate favoring digital assets and opposes U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler's stringent regulatory approach. According to federal financial disclosures, he has made a personal investment in Bitcoin, ranging between $100,001 and $250,000.

Positive Reactions from Crypto Figures

Prominent figures in the crypto industry have expressed support for Vance's candidacy. Nic Carter, founder of Castle Island Ventures, praised Trump's choice on his X account. "J.D. is a great choice, a former V.C., perfect for crypto.

Trump 2.0 is signaling a pro-tech, pro-Silicon Valley, pro-American dynamism outlook," Carter wrote. Charles Hoskinson, founder of Cardano, also commended Vance's pro-crypto stance in a recent video and acknowledged his significant contributions to the industry.

Trump's Campaign and Crypto Support

Trump's campaign has increasingly branded itself as crypto-friendly. He has supported the industry through gestures, including accepting cryptocurrency donations and speaking at the Bitcoin Conference 2024 in Nashville.

The campaign has garnered backing from several key industry figures, including the Winklevoss twins, who donated $2 million in Bitcoin for Trump's campaign. Additionally, David Bailey, CEO of Bitcoin Magazine, plans to hold a fundraiser for Trump later this month.

America PAC and Key Donors

Several prominent figures with ties to the crypto industry have emerged as backers of a new pro-Trump super PAC, America PAC.

Established in June, America PAC is dedicated to voter registration and encouraging early voting and mail-in ballot requests in crucial swing states.

Tyler and Cameron Winklevoss, founders of crypto exchange Gemini, have donated $250,000 to the PAC each and $2 million in Bitcoin to Trump's campaign. According to a report by the Wall Street Journal, Elon Musk is planning to commit around $45 million a month to the PAC.

Vance on SEC and Crypto Regulation

James David Vance, Donald Trump's new running mate, has previously called SEC Chair Gary Gensler the "worst person" to regulate the crypto industry.

Vance has voted in solidarity with the crypto industry several times throughout his political career, including voting in favor of rolling back the SEC's controversial SAB 121 accounting guidelines.

The senator has also criticized the SEC's approach to regulating blockchain and crypto, emphasizing the need for a more favorable regulatory environment.