Photo by Evan Vucci, Associated Press.
Important points
- Donald Trump was attacked at a rally in Pennsylvania but escaped unharmed.
- After the attack, the price of the TRUMP (MAGA) meme coin soared 42%.
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Former President Donald Trump was targeted by gunfire at a campaign rally in Butler, Pennsylvania. The incident occurred shortly after President Trump began his speech, and security measures were immediately taken. In response to this news, the virtual currency market showed significant movement.
Multiple gunshots were heard at the outdoor event, and Trump's security personnel quickly surrounded him. Armed police took up a defensive position in front of the stage as President Trump ducked under the podium. The US Secret Service then escorted President Trump to a waiting vehicle.
As he was removed from the scene, Trump repeatedly raised his fist and shouted at the crowd to signal that he was unharmed. But then images surfaced on social media that appeared to show blood on Trump's right ear and the right side of his face. CNN's initial reports from the scene indicated Mr. Trump was injured, but provided no further details about the nature or severity of the injuries.
Following this incident, notable price fluctuations were seen in the virtual currency market. According to data from CoinGecko, the Solana memecoin TRUMP (MAGA) soared 42% in value within minutes of breaking news (price stood at $6.34 before the shooting and $8.69 after the shooting). Bitcoin also rose, reaching over $59,000. This market reaction highlights the increasing intersection between political and economic events and cryptocurrency price movements.
Trump and virtual currency
The shooting incident comes as President Trump has recently been actively working on cryptocurrencies as part of his 2024 presidential campaign, with major crypto companies and celebrities expressing support.
Notably, however, not everyone in the crypto industry supports Trump, who is currently a convicted felon. Arthur Hayes, co-founder of BitMEX, recently expressed his distrust of President Trump based on Malcolm He criticized President Trump's pandering to virtual currencies, comparing it to his distrust of Trump's support for virtual currencies.
“I, like Malcolm in 1964, doubt Trump's sincerity. He cares about getting elected and will say whatever it takes to get your vote. Biden and the Democratic Party If Trump is pro-crypto, then Trump is anti-crypto. That's just good politics,” Hayes said.
Trump has promised to loosen crypto regulations if re-elected, and the Republican National Committee has adopted a pro-crypto platform. Earlier this month, former President Donald Trump confirmed he would be a speaker at a Bitcoin conference in Nashville, highlighting his support for the cryptocurrency industry.
While the incident could further boost support among crypto enthusiast voters, it also raises concerns about the safety of political events in an increasingly polarized election season.
Latest news: President Trump confirms he will continue to attend the Bitcoin conference in Nashville.
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