Trump survives shooting at rally in Pennsylvania – crypto markets react

Former President Donald Trump was the victim of a shooting at a campaign rally in Butler, Pennsylvania. The incident occurred shortly after Trump began his speech, triggering immediate security measures. Crypto markets saw significant moves following the news.

Several gunshots were heard at the outdoor event, and Trump’s security guards immediately surrounded him. Armed officers took up defensive positions in front of the stage as Trump ducked under the podium. The U.S. Secret Service then escorted Trump to a waiting vehicle.

As he was taken away from the scene, Trump repeatedly raised his fist toward the crowd and shouted loudly to signal that he was unharmed. However, images later surfaced on social media that appeared to show Trump with blood on his right ear and the right side of his face. CNN reported that Trump suffered injuries, but did not provide further details on their nature or severity.

The incident saw notable price movements in crypto markets. Solana memecoin TRUMP (MAGA) rose 42% within minutes of the news breaking. Bitcoin also rose, crossing the $59,000 mark. This market reaction highlights the growing overlap between political and economic events and crypto price movements.

The shooting came against the backdrop of Trump’s recent commitment to cryptocurrencies as part of his 2024 presidential campaign, with major crypto companies and personalities pledging their support.

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

“I doubt Trump’s sincerity, just like Malcolm did in 1964. He cares about getting elected and will say whatever it takes to get your vote. If Biden and the Democrats were for crypto, Trump would be against crypto. That’s just good politics,” Hayes explained.

Trump has promised to loosen 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 attendance as a speaker at a Bitcoin conference in Nashville, emphasizing his support for the crypto industry.

This incident could further bolster support among crypto enthusiasts, but also raise concerns about security at political events in an increasingly polarized election season.