Author: Weilin, PANews
On August 2, Kamala Harris, who is expected to be the Democratic presidential candidate in the United States, had a chance of winning on the prediction market Polymarket, which rose to a record high of 45%, and then fell back to 44%. Trump’s chance of winning dropped to 54%; and 7 A few days before Biden withdrew from the election on March 16, Trump's chance of winning was 71%.
Two days ago, more than 200 venture capitalists signed a letter publicly supporting Harris' bid for the White House, saying that without "strong, trustworthy institutions," Silicon Valley and other industries would collapse.
Next Monday local time, representatives of Harris' campaign team are expected to have further contact with executives in the encryption industry at a roundtable meeting. The outside world is expected to soften their stance following rival Trump's speech at the Bitcoin Conference.
More than 200 venture capitalists back Harris
Venture capitalists who signed the "VCs for Kamala" pledge include the following crypto industry figures:
Ron Conway: Managing Partner and Founder of SV Angel. The fund is an investor in at least 10 crypto companies, including Coinbase, Uniswap and OpenSea;
Ryan Morrison: Partner at Founders Circle Capital, which has invested in Robinhood, a retail investing app that offers crypto services, and FalconX, a digital asset brokerage;
Rebecca Kaden: USV’s first female managing partner. USV has 24 crypto companies in its portfolio, including Coinbase, Blackbird Labs, Dapper Labs and Polychain Capital. Kaden donated $4,000 to Democratic candidates and committees last year;
Mark Cuban: Investor in 20 blockchain companies, including Arbitrum, Polygon and DeepSea. Cuban is a staunch critic of Trump;
Reid Hoffman: LinkedIn co-founder and Greylock partner, has invested in six crypto companies including Coinbase. On July 31, he called supporting Harris "an investment in the future of our democracy."
In addition, JP Thieriot, the former CEO of the U.S. crypto exchange Uphold, also expressed support for He Jinli. Thieriot said he hopes to build support for Democrats from the digital currency industry. He believes that former President Trump provided the industry with empty promises, while Harris sent a new signal of openness.
"Of course she has to do something to gain trust," Thieriot said. "It would be crazy if (we) didn't get involved."
He said he wrote a strategy document with other groups, including cryptocurrency lawyers. They shared the document with Harris' campaign this week and are awaiting a response. The strategy paper reads: “We believe cryptocurrency is the most important state-by-state swing issue this election cycle…Trump has moved to try to occupy this space and raised significant funds, essentially providing ambiguity. utter platitudes without any meaningful policy commitments.”
The document suggests holding a cryptocurrency fundraiser in San Francisco and predicts Harris could receive support from prominent cryptocurrency figures and potentially receive tens of millions of dollars in campaign donations from the industry. Thieriot said he is building a related website.
Uphold’s former CEO JP Thieriot He Jinli is said to have “contact with people in the encryption industry” and the campaign team will participate in the new roundtable
On July 27, it was reported that members of Harris’ team had contacted people close to cryptocurrency companies in recent days to discuss meetings. These companies include leading exchange Coinbase, stablecoin company Circle and blockchain payments group Ripple Labs. But later, an adviser to Harris’s campaign clarified that the move to reconnect with the cryptocurrency industry was not primarily for the purpose of obtaining electoral donations, but to establish a positive relationship with the crypto industry and pave the way for a reasonable regulatory framework.
According to FOX reporter Eleanor Terrett, California Congressman Ro Khanna will host a key roundtable meeting in Washington next Monday local time. The roundtable will bring together cryptocurrency industry leaders and politicians.
This cryptocurrency roundtable will feature Democratic politicians. In addition, representatives from Harris' campaign team will also attend. The move represents a major shift in policy as pro-crypto Democrats look to forge a new relationship with the crypto industry.
Back in July, Democratic Congressman Ro Khanna organized a roundtable discussion on cryptocurrency regulation. He invited big names like Ripple CEO Brad Garlinghouse and entrepreneur Mark Cuban. Khanna expressed optimism about the potential outcome of these discussions.
He stated that the meeting will lay the foundation for the introduction of a strong cryptocurrency regulatory framework in the United States. Although few specific details of the meeting were revealed, Garlinghouse praised Khanna on social media. The Ripple CEO called Khanna an “outstanding” leader and praised him for spending time interacting with the cryptocurrency industry.
Harris' attempts to change her stance on cryptocurrencies have not been without resistance. Recently, Tennessee Sen. Bill Hagerty (R) expressed strong skepticism about Harris' new strategy. He said: “After witnessing President Trump’s huge success at the Bitcoin conference in Nashville, Harris, as she has done on so many other issues, was eager to do a 180-degree switch at the last minute in an attempt to appear pro-cryptocurrency. This is not surprising.
Additionally, Senator Hagerty criticized the Biden-Harris administration's previous policies on the cryptocurrency space, calling it "extremely anti-cryptocurrency and anti-innovation." Hagerty also pointed to contradictions between Harris' new stance and the administration's past actions.
"Unfortunately, her current approach is hampered by three and a half years of extreme anti-cryptocurrency and anti-innovation policies from the Biden-Harris administration." He commented.
According to Hagerty, he believes the cryptocurrency community shares Republican values of freedom and innovation and is therefore unlikely to be swayed by Harris's change of stance. He cited the positive response Trump received at the recent Bitcoin Nashville 2024 conference as evidence that the Republican Party is more influential among cryptocurrency enthusiasts. "The Republican Party is the party of cryptocurrency, and Harris' last-ditch effort will not change that." Hagerty concluded.
At present, whether He Jinli will publicly state her stance on cryptocurrency will become the key to the subsequent US election trend, and PANews will also stay tuned.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link )
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〈Polymarket bets on He Jinli’s chances of winning the election to a new high! Why? 〉This article was first published in "Block Guest".
