Republican presidential candidate Donald Trump positioned himself as a staunch supporter of cryptocurrency during a fundraiser in San Francisco, where he raised $12 million.

Hosted by prominent tech venture capitalists, the event underscored the growing influence of the crypto industry in U.S. politics.

Trump criticised Democratic efforts to regulate the sector and pledged to champion crypto if elected.

While specifics of his proposed crypto policy remain unclear, Trump's stance resonated with some high-profile venture capitalists and crypto investors in the liberal stronghold of San Francisco.

The event also saw the attendance of executives from major crypto firms, emphasising the industry's efforts to gain political influence amid regulatory scrutiny.