The current political scene presents an interesting contrast. During his presidential campaign, President Trump opened himself up to accepting cryptocurrencies as donations, and he has repeatedly emphasized his support for cryptocurrencies while portraying his opponent, the Biden administration, as unfriendly to cryptocurrencies. party to win support from voters in the U.S. cryptocurrency community.
Against this background, the Biden camp seems to be feeling the pressure, and there is speculation that they may exert influence on the SEC to urge it to approve the ETF, which may explain the sudden change in the SEC's attitude and the significant rise in the price of Ethereum.
If this trend continues, U.S. presidential elections in the coming years are likely to be strongly influenced by the performance of financial markets, with whichever candidate more effectively drives markets higher likely to receive more support.
According to this logic, the current market conditions may continue until around the election, because Trump may promise to further support the cryptocurrency industry after taking office, and Biden may also implement some favorable policies or reduce the suppression of cryptocurrency. court. Regardless, the cryptocurrency space has begun to influence the political landscape of major countries.
