Supporters of the US Democratic Party in the crypto industry have launched the Crypto for Harris campaign to counter Donald Trump's industry calls. This is written by Eleanor Terrett from FOX Business.
🚨NEW from me: Democrats launch 'Crypto for Harris' campaign to counter Trump’s industry appeal
The Democratic arm of the cryptocurrency industry is determined not to let Donald Trump run away with the crypto vote this fall.https://t.co/YOSGpv1AWt
Kamala Harris's new support group will hold a virtual meeting next week. Billionaire and cryptocurrency supporter Mark Cuban, founder of SkyBridge Capital Anthony Scaramucci, as well as several members of the House of Representatives from Democrats are among the participants.
Crypto for Harris has approximately 50 members. Industry players and policy experts are among the main organizers.
"The United States must remain a leader in blockchain and cryptocurrencies, and groups like Crypto for Harris are working hard to ensure the right policy, and communication is taking place to achieve this result," said Jonathan Padilla, CEO of Web3 Snickerdoodle and one of the co—founders of the association.
Donald Trump has been positioning himself as a "crypto president" in recent months, promising support for the industry and a change in regulatory policy. Speaking at the Bitcoin 2024 annual conference, the Republican candidate promised to create a strategic bitcoin reserve and fire SEC Chairman Gary Gensler "on the very first day" after his election. At the same time, he will obviously not be able to fulfill the latter, since the president-elect will take office in January 2025, Terrett noted.
Trump has also made notable strides in raising campaign funds from industry representatives. Among his major sponsors were the Winklevoss brothers and Kraken co-founder Jess Powell, who donated $1 million each in digital assets. During Bitcoin 2024, the politician managed to collect more than $20 million in donations.
"We are not giving this problem to Trump. We want to encourage innovation and protect consumers, but allowing cryptocurrencies to become a political football will only exacerbate the U.S. lag," said Congressman Wiley Nickel.
Terrett noted that Harriss added two digital asset advisors to her staff at the end of July. They were former Binance advisory board member David Plouffe and Gene Sperling, who was previously on the board of Ripple.
"Bringing in such experts for the campaign is a stronger statement than just stand-up at a bitcoin conference and pandering to the industry to collect votes," said Mo Vela of Unicoin.
According to Terrett, on August 8, a meeting of party officials and Harris advisers with representatives of Coinbase, Ripple, Stellar and other industry companies organized by Democratic Congressman Ro Hanna will take place.
According to Polymarket, Harris, who has not made any direct statements regarding cryptocurrencies, is already ahead of Trump — 50% against 49%. The volume of bets on the outcome of the presidential election is close to $550 million.
Recall that Bitwise investment director Matt Hougan came to the conclusion that the attitude of politicians does not matter for the crypto industry. A similar opinion was expressed by the ex-CEO of BitMEX, Arthur Hayes.