Kamala Harris’ campaign is making efforts to improve relations with top U.S. cryptocurrency companies, as reported by FT. Sources reveal that members of Harris’ team have been reaching out to companies like Coinbase, Circle, and Ripple Labs in an attempt to schedule meetings. This move comes in light of criticism towards the Biden administration’s tough stance on the crypto industry.
Harris and her team are aiming to change the perspective of crypto market participants towards the Democratic party. With the upcoming election in sight, this strategic shift could be crucial for Harris, especially with the growing interest from tech sector donors. The report suggests that Harris is looking to differentiate herself from the Biden administration by engaging with cryptocurrency companies to establish a more positive relationship.
Despite the challenges ahead, including the Biden administration’s crackdown on major crypto companies by the SEC, Harris is determined to address the concerns of the industry while still maintaining traditional Democratic donor support. The recent call from The Digital Chamber for Harris to adopt more favorable crypto policies reflects a changing landscape in Washington as crypto advocates gain more influence.
In a surprising turn of events, President Joe Biden announced that he would not seek reelection in 2024 and endorsed Vice President Kamala Harris as the Democratic nominee. This decision was influenced by concerns about Biden’s performance and viability for another term. With the support of prominent Democrats like Bill and Hillary Clinton, Harris is now set to inherit Biden’s campaign infrastructure and funds.
On the other side, former President Trump has shifted his stance on cryptocurrencies, transitioning from a critic to a vocal supporter of the industry. Trump’s newfound support for crypto has garnered significant backing from the sector, with reports indicating that his campaign has raised millions in cryptocurrency donations. He has criticized the Biden administration’s regulatory actions as a “war on crypto” and pledged to make it easier for crypto mining companies to operate if reelected.
Despite Trump’s support, some within the crypto community remain skeptical of his motives, questioning whether his backing is genuine or driven by political strategy. The impact of Trump’s support for crypto on the political landscape, especially as the 2024 election approaches, remains uncertain. The influence of the crypto industry’s support for Trump on future cryptocurrency regulation in the U.S. is yet to be determined.