Cryptocurrency has become a hot button issue in the 2024 presidential campaign. The Democratic arm of the cryptocurrency industry is determined not to let former President Trump run away with the crypto vote this fall.
A new pro-Kamala Harris advocacy group called Crypto for Harris plans to host a virtual town hall with a star studded speaker lineup that includes billionaire entrepreneur and crypto advocate Mark Cuban, SkyBridge Capital founder and Trump critic Anthony Scaramucci plus a handful of Democratic members of the House of Representatives. This meeting is open to the public and will discuss ways to support the Harris campaign and promote fundraising initiatives.
Currently, the Crypto for Harris campaign currently has around 50 members, with its main organizers consisting of industry participants and policy experts. This group is echoing sediment that the United States must continue to be a leader in blockchain is working hard to ensure the right policies and conversations take place to ensure that outcome.
In recent weeks after Biden dropped out and Harris stepped into the spotlight the race for the White House has narrowed between Trump and Harris. Trump has a head start in attracting crypto advocates to his campaign amid the regulatory assault unleashed by the Biden administration, but as the front runner Harris is now softening her campaign's stance on the space.
Why now is the real question? The answer is over 40 million Americans own digital assets and Trump with the help of the Republicans are considered the crypto party, but Harris is trying to take that title and those votes. The former president has firmly embraced digital assets, promising to end tough Biden-era regulations on the industry. He headlined the annual Bitcoin Conference in Nashville, Tennessee, last month, where he raised more than $20 million from industry heavyweights and made promises to set up a strategic government reserve of bitcoin and even fire SEC Chairman Gary Gensler on day one if he’s elected. I doubt he would keep that promise, but it still reads good in the headlines.
The Democratic party has been more outspoken in recent weeks with statements encouraging innovation and adding protection for consumers which has been a softer stance than Biden and SEC has been in many years. Harris has added two former crypto advisers to her campaign in the past week: David Plouffe, who served on the advisory board of the world's largest cryptocurrency exchange, Binance, and Gene Sperling, a former board member of blockchain payments company Ripple. It great to see them bringing crypto experts onto her campaign because that is a far more powerful statement than just standing a conference and pandering for votes. I can't wait to see what impact this might have on the Harris campaign or what negative impact it has on Trump's campaign. I think we are going to see a positive regulatory environment for crypto in the near future. I just hope that means we seem better price action the market feels a little bearish at the moment.
Posted Using InLeo Alpha