The main thing from the USA: A devastating debate, Biden hired a Coinbase board member as an adviser, and Trump received money from the co-founder of Kraken.
Let's take a closer look at the results of the debates that took place today. First of all, Trump said nothing about the crypto industry. Concentrated on broader and “universal” themes to criticize the current president. As journalists write, “The economic part was short, and the debate barely touched on technology policy, let alone the digital asset sector.” Our expectations and the expectations of the majority at Polymarket were not met. But this does not mean that the topic will be abandoned by the Trump campaign. It’s just that in their assessment it didn’t reach the top ones.
Coins from the PolitiFi segment, such as #TRUMP, #BODEN, #TREMP, corrected during the debate, showing the typical “sell on the news.” The only difference is that during the debate, TRUMP fell by -26% and BODEN by -48%.
Many media outlets and experts admit Biden's defeat at the debate.#Bloombergcame out with the headline "Biden struggles to debate Trump in 2024 race." And they show how the chances of Trump winning changed after them. The probability is above 60% at the moment.
The Democratic Party, according to media reports, is thinking about replacing its candidate in the elections. On the Polymarket platform, the chance of Biden withdrawing from the election campaign (based on user bets) increased to 38%.
A potential smart idea (but risky) is to quickly buy a PolitiFi token with the name of the new candidate if Biden is replaced. Sell, perhaps, by November before the elections.
In the meantime, we continue to observe the first elections in US history in which the crypto industry plays an important role - as a topic and as a party supporting one of the candidates. Even without discussion at the debate.
This morning, by the way, there was news that the co-founder of the#Krakencrypto exchange (another exchange under attack by the SEC), Jesse Powell, donated $1 million in crypto assets to Donald Trump for his election campaign.
At the same time, he accused American congressmen and officials of attacks on the crypto industry:
“For too long, the crypto industry has been under attack from Elizabeth Warren, Gary Gensler and others.
Despite overwhelming bipartisan efforts by Congress to establish clear rules, the Biden administration has stood by and allowed a campaign of arbitrary regulation by the executive branch. This approach reduces U.S. competitiveness as other jurisdictions introduce clear industry regulations.
I'm excited to join other leaders in our community to unite behind the only major party pro-crypto candidate in the 2024 presidential election so the United States can continue to be a leader in blockchain technology."
Before this, let us remind you that last week the Winklevoss brothers donated $2 million in cryptocurrency to Trump with their crypto exchange #Gemini.
To unite the industry around your opponent in this way is a clear success. And how hiring a member of the Coinbase advisory board as an advisor will help here is rather a rhetorical question.