Trump survives shooting incident at Pennsylvania rally, crypto markets react

Key Takeaways

Donald Trump was attacked at a Pennsylvania rally but remained unharmed.
Following the attack, the TRUMP (MAGA) memecoin price surged by 42%.

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Former President Donald Trump was targeted in a shooting at a campaign rally in Butler, Pennsylvania. The incident occurred shortly after Trump began speaking, prompting immediate security action. Crypto markets saw significant movement following the news.

Multiple shots were heard at the outdoor event, causing Trump’s security detail to quickly surround him. Armed officers took defensive positions at the front of the stage as Trump ducked below the podium. The US Secret Service then escorted Trump to a waiting vehicle.

As he was being removed from the scene, Trump repeatedly raised his fist to the crowd and shouted, signaling he was unharmed. However, images later surfaced on social media appearing to show Trump with blood on his right ear and the right side of his face. CNN reported that Trump sustained injuries, but provided no further details on their nature or severity.

In the wake of the incident, crypto markets saw notable price action. The Solana memecoin TRUMP (MAGA) surged 42% in value within minutes of the news breaking. Bitcoin also climbed, pushing past the $59,000 mark. This market reaction highlights the increasing intersection between political and economic events and crypto price movements.

The shooting comes amid Trump’s recent embrace of crypto as part of his 2024 presidential campaign, with major crypto firms and personalities pledging support.

Notably, however, not everyone in crypto supports Trump, who is now a convicted felon. Arthur Hayes, co-founder of BitMEX, recently published a critique of Trump’s pandering to crypto, likening his distrust to that of Malcolm X’s commentaries in the 1964 US presidential race and how politicians only support issues and topics based on their chances of getting votes.

“I, just like Malcolm in 1964, doubt the sincerity of Trump. He cares about getting elected and will say whatever it takes to get your vote. If Biden and the Democrats were pro-crypto, Trump would be anti-crypto. It’s just good politics,” Hayes stated.

Trump has pledged to ease crypto regulations if re-elected and the Republican National Committee has adopted a pro-crypto platform. Earlier this month, former President Donald Trump confirmed his participation as a speaker at a Bitcoin conference in Nashville, emphasizing his support for the crypto industry.

This incident may further galvanize support among crypto-enthusiast voters, while also raising concerns about security at political events in an increasingly polarized election season.

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