In the early hours of Beijing time, a New York court jury unanimously ruled that all 34 charges against Trump were guilty, making him the first former president in American history to be convicted of criminal charges. The news caused a sensation not only in the mainstream media but also in the cryptocurrency market, where Trump-related tokens plummeted by more than 30% in a short period of time. Previously, Trump-themed meme tokens had experienced a significant surge in the market, with the representative project MAGA (TRUMP) reaching new highs. In addition, Trump has been actively advocating the advantages of cryptocurrency recently, and he and his family members have close ties to cryptocurrencies. If Trump is convicted, will it affect the US presidential election in November and what impact will it have on the future trend of the cryptocurrency market? Odaily will answer these questions.
Does Trump’s conviction affect the US presidential election?
A New York court jury ruled on the 30th that former US President Trump was guilty in the “hush money” case. It is reported that all 34 charges in the case were proven, making Trump the first former president in American history to be convicted of criminal charges.
After leaving the court, Trump said: “The real verdict will be made by the American people on November 5. We haven’t done anything wrong. I am an innocent person.”
The “hush money” case was tried by the Manhattan Criminal Court. Each of the 34 serious charges could result in a maximum of 4 years in prison, but he can appeal and his freedom is not restricted until the appeal ruling. The final sentencing will be announced at 10 a.m. Eastern Time on July 11, and the Republican Party will hold its national convention on July 15 to officially nominate Trump for president.
Former prosecutor and defense lawyer Michael Bachner said, “Even if Trump is sentenced to prison next month, he can remain free during the appeal. At the same time, from now on, Trump can freely accept media interviews, travel, and continue his campaign activities.”
In other words, theoretically, Trump can still run for President of the United States.
US presidential candidate Robert F. Kennedy Jr. said that Trump’s guilty verdict could boost his chances in November. Kennedy is running as an independent candidate and will face Trump and Biden. He said that if he withdraws from the race, more than half of his supporters will switch to Trump.
Trump’s supporters may think that Trump is being politically persecuted, which will increase voters’ support for Trump’s presidential campaign. Trump himself may also use this wave of conviction controversy to deepen voters’ enthusiasm for him. After all, Trump’s appeal in today’s America is evident.
Will Trump really go to jail? Former federal prosecutor Chuck Rosenberg said, “Given Trump’s age (77) and his status as a nonviolent first-time offender, Judge Morchin is unlikely to impose any imprisonment on him.”
As an uncertain factor in running for President of the United States, even if sentenced to prison, it will require waiting until after the term of office to serve. There are many factors involved and the situation is complex. The specific outcome depends on the subsequent game of all parties.
The subsequent impact of Trump’s conviction on the crypto world
As another landmark event in the cryptocurrency market this year, the US presidential election has a profound impact on future development. Candidates from both parties have released friendly attitudes towards cryptocurrency in order to win votes. A typical example is the “Financial Innovation and Technology Act of the 21st Century” (FIT 21, also known as HR 4763), which was passed by the House of Representatives on May 22, and the White House has also pressured the SEC to promote the launch of Ethereum spot ETF.
Although the attitude of the Biden administration has changed somewhat, the market is still concerned that his administration may reverse its policies after winning the election. In comparison, Trump has shown greater support for cryptocurrencies, and the indigenous people of cryptocurrencies are hoping for Trump’s victory. From the current perspective, Trump’s path to the presidency has not been affected by this case, and it may even help.
Tags:
MEME
Ethereum
Ethereum
Cryptocurrency ecosystem
Trump
US presidential election
Source link:
https://www.odaily.news/post/5195649
Note: The opinions expressed in this article represent the author’s point of view and do not constitute investment advice.
Original article link:
https://www.bitpush.news/articles/6827119
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