Bitcoin Fans and Libertarians Reconsider Trump Support After Minneapolis Tragedy
The crypto world, known for its libertarian roots, is having a moment of reflection. Some Bitcoin supporters are stepping back from their backing of President Trump after a recent shooting in Minneapolis. The incident involved Alex Pretti, a U.S. citizen and legal observer, who was killed by Border Patrol officers during protests.
Bruce Fenton's Criticism
Bruce Fenton, a cypherpunk and CEO of Chainstone Labs, called out the White House for its response. He argued that the administration is infringing on First and Second Amendment rights. Fenton, who has been involved in Bitcoin for over a decade, expressed his frustration on X, saying:
"I barely even want to associate with Republicans now."
Historical Alignment and Recent Challenges
The crypto community has historically aligned with libertarian values, seeing digital assets as a way to resist censorship and achieve financial independence. However, recent events have tested this alliance.
Vitalik Buterin, Ethereum co-founder, warned that the actions of Immigration and Customs Enforcement (ICE) officials could have far-reaching consequences.
Industry Leaders Weigh In
David Marcus, CEO of Superstate, also weighed in, expressing dismay at the shooting. He noted that regardless of the protesters' intentions, the killing of a citizen on the streets is appalling.
The crypto industry's support for Trump has been a "marriage of convenience," according to John Deaton, a pro-XRP attorney. He pointed out that the industry has faced significant challenges under previous administrations.
Concerns and Conditional Support
Deaton also highlighted concerns about the First and Fourth Amendments, citing recent actions by the Department of Homeland Security and ICE. Despite the crypto industry's growing partisan divide, Deaton acknowledged that Trump's administration has provided some relief from regulatory pressures. However, the recent events have shown that this support is not unconditional.
