Donald Trump wins 2024 presidential election
Largely seen as pro-crypto, Donald Trump is set to once again take the White House
President Donald Trump | Jonah Elkowitz/Shutterstock modified by Blockworks
The winner of the 2024 presidential election is former President Donald Trump.
Fox News first projected the race for Trump, with networks including NBC officially calling the race for him hours later. Wisconsin’s 10 electoral votes put the President-elect over the top at approximately 5:30 am ET.
Trump took an early lead in the night, leading with what’s commonly referred to as the “red mirage.” States primarily in the South were called for the Republican candidate. The popular vote saw Trump with a win of over 70 million. Trump won key states including North Carolina, Georgia, and Pennsylvania.
In a speech before the race was officially called for Trump, the former president took the stage alongside his family, including his wife Melania Trump, and sons Barron and Eric Trump.
“This was, I believe, the greatest political movement of all time,” Trump said to kick off his speech. “We’re going to help our country heal.”
Read more: Republican candidate Bernie Moreno defeats incumbent Sherrod Brown for US Senate seat
“We made history for a reason tonight,” Trump said, alluding to a win. “I’m excited to be your 47th and your 45th president.”
At the time of his speech, only Fox News had projected Trump as the winner of the presidential election, though he sat at 266 electoral votes.
“This will truly be the golden age of America,” Trump told an excited crowd.
Trump has run for president three times, though this is the first election where he’s promised potential policies that are favorable for crypto. In 2020, Trump lost to current President Joe Biden, who dropped his re-election bid back in July.
In the Republican platform, Trump promised to end the “unlawful and unAmerican Crypto crackdown” by Democrats. He’s also pushed for bitcoin to be “made in the USA,” which could translate into more favorable mining policies.
Source
However, none of Trump’s crypto promises have translated into policies yet. He’s set to be inaugurated in late January.
Aside from his potential policies, Trump is also linked to the DeFi project World Liberty Financial. The project lowered its fundraising goals, according to a US Securities and Exchange Commission filing, after opening its whitelist for accredited investors back in September.
Prior to the election, prediction markets Kalshi and Polymarket showed Trump in the lead for the most part.
As votes were being counted, Trump’s lead over Harris widened with him hitting 90% before major networks called the race for Trump.
Trump’s vice presidential pick, JD Vance, has previously been seen as a crypto supporter. Vance even floated a draft of legislation focused on crypto prior to being picked as Trump’s VP, according to a Politico report last summer.
In comparison to his opponent, Vice President Kamala Harris, Trump was seen as the crypto candidate. However, Harris also included mentions of crypto in her platforms. A potential Harris administration promised to “encourage innovative technologies” such as crypto.
Get the news in your inbox. Explore Blockworks newsletters:
- The Breakdown: Decoding crypto and the markets. Daily.
- 0xResearch: Alpha in your inbox. Think like an analyst.
