Federal Crypto Funding Faces Strong Public Opposition
A groundbreaking survey by Data for Progress has revealed that only 10% of US voters support increased federal funding for cryptocurrency and blockchain development under the Trump administration, highlighting concerns similar to recent ECB warnings about Trump’s crypto initiatives.
Key Survey Findings
- 90% opposition to increased federal crypto spending
- Significant partisan divide on blockchain investment
- Concerns over taxpayer fund allocation
White House Clarification on Funding Source
In response to public concern, the White House has issued a fact sheet clarifying that the proposed strategic reserve will be funded exclusively through seized bitcoin assets from criminal and civil forfeitures, requiring no taxpayer funding. This revelation adds a new dimension to the ongoing debate about federal cryptocurrency initiatives.
Market Implications
The stark contrast between public sentiment and administrative policy could have significant implications for the crypto market, particularly as it relates to institutional adoption and regulatory framework development.
Source: Data for Progress Survey Report