Gemini crypto exchange has recently published an article discussing the crypto-related stance of US presidential candidates Joe Biden and Donald Trump. Both of them have reached out to the crypto industry in recent weeks. As a result, they signal for the support of power players in the digital asset sphere ahead of the hotly contested November election. Trump seems more crypto-friendly if you ignore his anti-crypto remarks in 2019. The article discusses the win percentage of both the candidates as they eye to manipulate the crypto enthusiasts.
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— Gemini (@Gemini) May 31, 2024
Biden Seeks Crypto Industry Help as Trump’s Odds Improve
Predictions currently show that Trump is edging ahead of Biden, with his strong pro-crypto stance likely playing a role in swinging things his way. Earlier last month, Trump pledged to commute the sentence of Silk Road creator Ross Ulbricht at an event. In addition to this, he announced that he would allocate the US to lead in the technology of digital assets.
In the eyes of PredictIt, Biden is now 44% re-elected A full two percentage points better than Trump, as of the last morning Polymarket snapshot. In return, Biden’s re-election campaign began asking the biggest players in the crypto business to help formulate crypto policy and reach the wider community.
This is a heavy shift for Biden, who has to this point refrained from directly engaging with the divisive issues digital assets raise. Instead, his administration has given a free hand to SEC Chair Gary Gensler to move ahead with measures that most people in the crypto sector see as detrimental.
Crypto Policies Could Be Key to Voter Support in Election 2024
Trump’s pro-crypto rhetoric is a reversal from his previous stance, in which he showed disdain for Bitcoin specifically because it was “competing with the US dollar.” The pivot from both candidates highlights the increasing importance of digital asset policies on the election landscape. The fact that Trump and Biden are reaching out to the crypto industry underscores the growing relevance of digital assets to politics. Their crypto stances, as the election 2024 nears, could be key to winning voter support.
Other than that, the chatter surrounding the move to regulate crypto. However, heavyweights have expressed better policies for crypto industry. Consequently, it indicates a broader acceptance of cryptocurrency in general.
Finally, the marriage of convenience between Trump and Biden shifts the sands in favour of the crypto industry. As the election quickly approaches, those who are interested in digital assets will surely continue to examine where the candidates and their potential administration come down anal digital asset policies.