Key Points
- David Marcus, CEO of Lightspark, has publicly endorsed Donald Trump for the upcoming presidential election.
- Marcus’s support for Trump marks a significant shift from his previous political stances, which favored the Democratic party.
David Marcus, the CEO and co-founder of Lightspark, a well-known Lightning Network payment solution, recently voiced his support for former President Donald Trump in the forthcoming presidential election.
In a recent social media post on X, Marcus revealed that he is now backing the Republican Party and Donald Trump. He stated that he believes the country needs a president who is unequivocally pro: America, the Constitution, business, Bitcoin/crypto, innovation, Israel, small government, legal immigration, free speech, meritocracy, and common sense.
Political Shift
Marcus’s recent endorsement marks a significant change in his political views, which he describes as a gradual “political 180” from his previous stances. He explains that this shift in his political beliefs was a result of his disillusionment with long-held beliefs.
Marcus was formerly an active supporter of the Democrats and was involved in raising $100 million from Silicon Valley for the Democratic National Committee (DNC) in 2017. He aimed to build a technology platform for the party. However, Marcus expressed his disappointment with the DNC’s reluctance to allocate funds for tech improvements.
In 2019, Marcus spent a significant amount of time engaging with lawmakers and regulators following the announcement of his stablecoin Libra. Contrary to his expectations, Republicans showed more interest in understanding and supporting innovative projects like Libra. This made Marcus reconsider his political views.
Marcus expressed his frustration with the Democratic Party’s shift away from core American values such as meritocracy and innovation. He voiced concerns about the party’s approach to immigration, economic policies, and regulatory environments, particularly regarding emerging technologies such as cryptocurrency and artificial intelligence.
Cryptocurrency and Politics
Marcus’s endorsement of Trump comes as the crypto industry gains prominence in political discussions. Trump has garnered support from several influential figures in the crypto world, including Tesla CEO Elon Musk and the Winklevoss twins, co-founders of Gemini. Notably, the Republican candidate recently raised $25 million during the Bitcoin Conference 2024.
Political figures other than Trump have also shown interest in crypto. Kamala Harris has hinted at comprehensive crypto regulations, and independent candidate Robert F. Kennedy Jr. has promised to increase the government’s Bitcoin reserves if elected.
The growing intersection of politics and cryptocurrency is evident in the rise of PoliFi tokens, such as Trump-themed MAGA tokens, which have seen significant surges in value. Conversely, Biden-themed tokens have plummeted following his withdrawal from the elections.
In particular, the MAGA token (TRUMP) has surged by more than 29,000% in the past year. It is currently trading around $4.97, down by over 6% in the last 24 hours. On the other hand, Joe Biden token (BIDEN) is down by around 100% in the past year.
