Crypto industry gears up to raise $100,000 for Kamala Harris
An upcoming crypto industry fundraiser on September 13 hopes to raise $100,000 or more for Democratic presidential nominee Kamala Harris, according to Reuters.
Individual donors are electing to spend anywhere from $500 to $5,000 per person to help catapult Harris to the White House this fall.
Although Donald Trump has gained significant financial support from the crypto industry, Harris has attracted a growing list of crypto groups looking for Democrats to extend a new policy on digital assets.
Under President Joe Biden and the administration of the U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, the digital asset industry has complained about strict oversight and "regulation by enforcement" that stifles innovation domestically.
Multiple crypto firms have received a Wells Notice – or a warning of an impending enforcement action by the SEC – prompting some to mull relocating overseas to jurisdictions with clearer laws on crypto.
Harris' lack of a clear policy position on crypto, however, presents an opportunity for a fresh start, according to some fundraisers. "Why not seize on the first fundraiser – which there will be many others – to actually make a statement about what crypto is for Democrats as a potentially new administration contemplates how do they look at this?" Cleve Mesidor, an executive director at the Blockchain Foundation told Reuters.
"We wanted to make sure that with the change in the presidential nominee for the Democrats, that we were supportive and we came together to help her understand the importance of this industry," WilmerHale's Smith added.
Earlier this month, a new group labeling itself "Crypto4Harris" coalesced around the presidential candidate, bringing in prominent, well-heeled crypto thought leaders to promote Harris, including Dallas Mavericks owner and billionaire Mark Cuban and former White House communications director Anthony Scaramucci.
