Bitcoin Magazine CEO pledges to raise $15m for Trump: report

Bitcoin Magazine CEO David Bailey has reportedly pledged to raise $15 million for former President Donald Trump at a conference in Nashville later this month.

According to the Washington Post, citing sources familiar with the matter, former US President Donald Trump will attend the Bitcoin Conference in Nashville, Tennessee, where he is expected to raise $15 million from donors.

According to the report, Bitcoin Magazine General Manager David Bailey lobbied Trump and his representatives several times about the conference idea, promising to “host a $15 million fundraiser for Trump in Nashville.”

At least two donors who have met with Trump on cryptocurrency-related issues told the Washington Post that the former president pledged support “despite appearing to be ignorant of the intricacies of cryptocurrency,” according to people familiar with the matter. The report also notes that Trump still sees the cryptocurrency community as a potential asset in his bid to return to the presidency.

“Trump understands that the Biden administration mismanaged crypto policy and misjudged its importance.”

Kyle Samani, Trump donor and co-founder of Multicoin Capital.

Speaking to the Washington Post, Samani added that many crypto enthusiasts are single-issue voters, have the financial resources and are “looking for a candidate to support,” and stressed that Trump and his team “know all of the above and are taking advantage of it.”

The report notes that senior White House officials recently met with crypto executives and “heard a number of complaints” during those conversations, but details of those conversations and the people involved have not yet been disclosed. Trump is expected to speak for 30 minutes at 2:00 PM CT (19:00 UTC) on July 27, the final day of the Bitcoin Conference in Nashville.