Is there a potential threat to the pro-crypto presidential candidate Trump, following his conviction?

Donald Trump, the Republican presidential candidate, has been found guilty of falsifying records to cover up a sex scandal. This verdict could have serious implications for both his past and future campaigns. In May 2024, there was a notable shift in U.S. crypto regulation, and Trump saw an opportunity to gain support from crypto advocates by positioning himself as a pro-crypto candidate. This change in stance came about due to Joe Biden’s threat to veto a bill that aimed to review and remove a specific SEC regulation. The bill passed successfully in Congress with an exceptional bipartisan vote. Craig Warmke, a Bitcoin Policy Institute fellow, stated that Trump saw an opportunity and took advantage of it. Despite previously expressing dislike for Bitcoin, Trump now openly supports the crypto industry, promising to make the U.S. a leader in the field, supporting self-custody, and even accepting crypto for his campaign. This shift in policy has caught the attention of pro-crypto voters, potentially influencing the upcoming election. However, with Trump now facing a criminal conviction, his presidential candidacy and the positive shift in U.S. crypto policy could be in jeopardy. The final sentencing for Trump is set for July 11, 2024, just a week before the Republican Party Convention. While there is a possibility of him serving time in jail, it is unlikely as the offenses he has been convicted of are not typically punishable by imprisonment in New York. Even if he were to be sentenced to jail, there is no legal requirement for a clean criminal record to serve as President. Therefore, Trump could technically continue as President. However, social pressure or the Republican party may push him to withdraw his candidacy. If Trump were to step down, it is uncertain whether the pro-crypto policies he advocated for would continue to be supported by the Republican party. The crypto community, accustomed to volatility, is now faced with even more uncertainty due to Trump’s conviction. This development has also exposed a divide among Democrats regarding crypto, which could have implications for the upcoming election.