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

David Bailey, CEO of Bitcoin Magazine, reportedly committed to raising $15 million for former President Donald Trump during a conference in Nashville later this month.

Former U.S. President Donald Trump is set to attend the Bitcoin Conference in Nashville, Tennessee, which is expected to help him raise $15 million from donors, the Washington Post reports, citing sources familiar with the matter.

According to the report, Bitcoin Magazine chief executive David Bailey lobbied the idea of the conference several times with Trump and his representatives, promising “to hold Trump a $15 million fundraiser in Nashville.”

According to sources familiar with the matter, at least two donors who had conversations with Trump about crypto-related issues told the Washington Post that the former president pledged to be supportive though he “didn’t seem to know the intricacies of cryptocurrency.” The report adds that Trump still views the crypto community as a potential asset in his bid to return to the presidency.

“Trump understands that the Biden administration has mishandled crypto policy and misjudged its significance.”

Trump donor and Multicoin Capital co-founder Kyle Samani.

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

The report notes that senior White House officials have recently met with crypto executives, during which they “heard a range of complaints,” although specifics of these discussions and the individuals involved remain undisclosed. Trump is expected to be speaking at 2 p.m. CT (19:00 UTC) for 30 minutes on Jul. 27, the final day of the Bitcoin Conference in Nashville.