Bitcoin donations to RFK Jr. campaign only amount to $61k amid lack of transparency
Bitcoin donations to RFK Jr. campaign easiest quantity to $61k amid lack of transparency Bitcoin donations to RFK Jr. campaign easiest quantity to $61k amid lack of transparency
Bitcoin donations to Robert Kennedy Jr. campaign a chunk of his $100 million struggle chest.
Gage Skidmore / CC BY-SA 2.0 / Flickr. Remixed by CryptoSlate
Just presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has got easiest $61,000 in Bitcoin donations since 2023, essentially essentially based on an diagnosis by blockchain analytical platform Breadcrumbs.
This figure is understated when put next to Kennedy’s general fundraising success. In accordance with OpenSecrets data, his 2024 campaign has raised over $100 million.
Tracking challenges
The Federal Election Commission (FEC) records describe that the $61,000 in Bitcoin donations changed into once silent between June and September 2023. Since October 1, 2023, the campaign has stopped reporting Bitcoin donations, which can perhaps screen both a lower in Bitcoin contributions or a alternate in reporting ideas.
The Breadcrumbs diagnosis defined that Kennedy’s campaign makes use of OpenNode to course of Bitcoin by the Lightning Network, which operates off-chain and complicates transparency.
Moreover, the campaign employs more than one stealth Bitcoin addresses, which manufacture a brand original tackle for every donation, additional obscuring the whole quantity of donations.
The company concluded:
“BTC donation data has been tough to search out because it has no longer been transparently reported by his campaign.”
Meanwhile, the whole quantity of Bitcoin donations is inclined to be greater, seriously provocative on doable contributions got at the original Bitcoin Conference.
Pro-Bitcoin
Despite the tiny Bitcoin contributions, RFK Jr. remains a staunch supporter of the flagship digital asset. He changed into once the major US presidential candidate to accept Bitcoin donations final twelve months and has strongly advocated for pro-crypto insurance policies throughout his campaign.
On the original Bitcoin Conference, Kennedy published that noteworthy of his wealth is invested in Bitcoin and made many promises that will perhaps perchance allow the industry to thrive below his administration.
One such pledge changed into once to signal an government bellow on his first day moderately than labor to design Bitcoin a strategic reserve asset for the US. Moreover, he proposed exempting Bitcoin from taxes and treating it as forex moderately than subjecting it to capital gains tax.
In accordance with him, these plans are segment of his broader economic way, which objectives to serve the US buck with Bitcoin to improve the nation’s monetary balance.
Seriously, these positions comprise garnered toughen from important crypto figures, including Cardano founder Charles Hoskinson.
Talked about on this article
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's doable. He imparts insights on a unfold of issues fancy DeFi, hacks, mining and culture, underlining transformative energy.
Liam 'Akiba' Wright
Regularly usually called "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the functionality to design frequent optimistic alternate.
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Bitcoin, a decentralized forex that defies the sway of central banks or directors, transacts electronically, circumventing intermediaries by a scrutinize-to-scrutinize network.
Cardano is a decentralized public blockchain and cryptocurrency mission and is fully start source.
Charles Hoskinson, essentially essentially based in Colorado, stands out as a famed figure within the blockchain and cryptocurrency sphere.
Robert F Kennedy Jr is an American environmental lawyer, politician, and creator.
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