Donald Trump pledged to reverse US President Joe Biden and SEC chair Gary Gensler's anti-crypto policies within an hour of taking office if re-elected, according to Reuters on June 7.

During a June 6 fundraiser in San Francisco, Palantir adviser Jacob Helberg recounted Trump's remarks, labeling his goal as combating the "Biden-Gensler crusade against crypto." At the event, Trump also touted himself as a "crypto president," as confirmed by tech executive and former Trump ambassador to Austria Trevor Traina.

Republican National Committeewoman Harmeet Dhillon stated that Trump expressed the importance of crypto and his support for the sector, though he did not outline specific crypto policies. Trump also criticized Democratic Senator Elizabeth Warren's anti-crypto stance.

Venture capitalists David Sacks and Chamath Palihapitiya hosted the fundraiser, which raised $12 million. Attendees reportedly included Gemini co-founders Tyler and Cameron Winklevoss, as well as unnamed Coinbase executives.

Trump's evolving stance on crypto has been notable. While historically critical, he recently acknowledged Bitcoin's growing adoption and expressed openness to its use in payments. He clarified in March that he does not intend to prohibit crypto use.

At a May 8 event at Mar-a-Lago, Trump intensified his pro-crypto stance, criticizing Biden's policies and urging supporters of crypto to vote for him. Following this event, Trump's campaign began accepting crypto donations on May 21, fulfilling an earlier promise.

This shift in Trump's position reflects the increasing importance of crypto in US politics, with over 20% of Americans reportedly owning crypto and viewing it as a significant issue. Amid Trump's crypto advocacy, the Biden administration reportedly began ramping up its outreach efforts on crypto. Additionally, the SEC's stance on spot Ethereum ETFs shifted recently, culminating in approvals on May 23 after initially expected denials.