J. P. Thierio, a member of the board of directors and former head of the Uphold bitcoin exchange, supported US Vice President Kamala Harris in her quest to take the post of head of state. CoinDesk writes about this.
To this end, the entrepreneur is going to raise funds and get her candidacy approved by the industry. The initiative is aimed at countering the effect of recent industry-positive comments by Harris' Democratic rival, Donald Trump.
According to Thierio, the latter makes empty promises, while the vice president signals "a new openness."
A member of the board of directors of Uphold, together with unnamed lawyers, formed a strategy for Harris, which he sent to her representatives.
"Trump has already tried to "capture" this space and raised significant capital without making any significant political commitments," the businessman commented.
Thierio is convinced that Harris can "start with a clean slate" — she will make it clear that the administration will work with the industry and maintain clear rules, demonstrating a willingness to put a friendlier head of the SEC.
Galaxy Digital CEO Mike Novogratz said that the representative of the Democrats may soon declare support for the industry.
"I hope that she will inform [..] that she wants to be a president who supports innovation and cryptocurrencies. We work a lot with Democrats because we don't want to be a one—party industry," the top manager explained.
Market impact
According to Ruslan Lienkhi, head of the markets department at YouHodler, investors are following the course of the election campaign, as they consider the potential victory of Harris to be a bearish factor for bitcoin.
"The Democratic administration may introduce stricter regulation, as a result, the first cryptocurrency may suffer. The dynamics of Harris in the most important states reinforces these concerns," the expert commented.
The expert explained that the victory of the representative of the Democrats would mean no changes in the supervision of the industry and a high probability of attempts by the SEC to apply the existing TradFi framework to digital assets.
According to QCP Capital, Donald Trump's success in November could dramatically change the cryptocurrency landscape.
"The creation of an American or sovereign "put" on the price of bitcoin can make savings on corrections a strategic investment approach," the experts concluded.
On the Polymarket prediction platform, Trump leads in direct confrontation with Harris, according to 54% of traders.
Data: Polymarket.Unlike the Republican candidate, who expressed support for the cryptocurrency market and announced a speech at the Bitcoin 2024 conference, the vice president has not publicly stated her attitude to digital assets or a strategy regarding their regulation.
Recall that Bloomberg noted the hopes of bitcoin companies for the arrival of Trump in the White House.