U.S. presidential candidates Kamala Harris and Donald Trump debated multiple topics from abortion rights to the war in Ukraine, but crypto was not among them.
Harris and Trump clashed on major issues, often regressing into personal attacks. Today's debate revisited the recurring topic of the U.S. Capitol riot on Jan. 6, 2021, where the former president denied having made calls for violence in his speech to supporters.
On the war in Israel, Trump said there would be no conflict if he were president, and claimed that Israel "will not exist in two years" if Harris wins the presidency.
The topic of immigration was also discussed extensively. Vice President Harris said that she was the "only one on the stage" to have prosecuted traffickers, and blamed Trump for "killing" a bipartisan border security bill. Meanwhile, Trump repeated claims that immigrants were eating people's pets in Springfield, Ohio, but the moderator clarified that there was no evidence for this, citing the city manager.
Crypto still high on agenda
Despite not being mentioned, crypto has become a hotly contested issue in this election. Crypto firms have so far spent $119 million in 2024, with almost all of the funds going into super political action committees, specifically the Fairshake PAC, according to a report last month from consumer advocacy group Public Citizen.
Of the two leading candidates, Trump has been seen as the friendlier toward the industry with promises to end an "unlawful and un-American crackdown" on the U.S. crypto industry. The Republican presidential candidate has also made inroads with the industry by selecting crypto-friendly J.D. Vance as his running mate and promising to advocate for bitcoin miners.
However, Harris has begun reaching out to the crypto industry and sources say her team wants to learn more about crypto. While it's unclear what Harris' approach to the sector will be, some in the crypto industry have criticized the current Biden Administration's approach to regulating digital assets.
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A few key crypto industry players have thrown their money behind Trump. Gemini co-founders Tyler and Cameron Winklevoss donated $2 million worth of bitcoin to Trump.
For her part, a grassroots effort called Crypto4Harris, held a town hall on Aug. 14 in a move to "do a formal reset." Another event is scheduled for Friday; crypto executives are holding a fundraiser for Harris and plan to raise at least $100,000, according to a report from Reuters.
Slim chance
Bettors on prediction platform Polymarket put the odds of Trump mentioning crypto at 17% as of Tuesday afternoon. Wagers put Harris mentioning crypto at 11%; mentions of "convicted felon" and "I'm speaking" are more likely to be brought up, traders expect.
Event markets, such as Polymarket, allow users to bet on the outcome of future events, including on the upcoming U.S. elections or even when certain Taylor Swift albums may be released. Election bets have recently come under the ire of the Commodity Futures Trading Commission. The agency voted in May to propose rules banning bets on political events as those markets quickly expand ahead of November. Democratic members of Congress, including Sen. Elizabeth Warren of Massachusetts and Rep. Jamie Raskin of Maryland, wrote a letter to the CFTC a month ago urging the agency to ban political events contracts.
Nonetheless, last week, a judge ruled in favor of prediction market Kalshi and tossed the CFTC's order blocking Kalshi from listing its congressional contracts for trading.
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