The Democrats launched ‘Crypto for Harris’ to attract U.S. crypto owners and boost Vice President Kamala Harris’s support. Her team added top crypto advisors to counter Trump’s strong backing in the crypto community.
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However, critics note Harris’s link to strict Biden-era crypto regulations, which could make it hard for her to win over those affected by these rules.
‘Crypto for Kamala’ Launched to Boost Harris vs. Trump
The U.S. Democratic Party has launched the ‘Crypto for Kamala’ campaign to strengthen Vice President Kamala Harris’s chances against Donald Trump. High-profile figures like Mark Cuban and the founder of SkyBridge Capital are backing the initiative, signaling strong support from influential industry leaders.
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The campaign aims to win over the 40 million American voters who own digital assets, showcasing that Democrats are committed to blockchain and cryptocurrency. This effort is a key part of their strategy to align with the growing crypto community.
As part of the campaign, top Democratic Senate leaders will speak at a virtual town hall meeting next week. This event, open to the public, will focus on supporting Kamala Harris’s campaign and encouraging fundraising efforts to bolster her position.
The ‘Crypto for Kamala’ initiative reportedly already has around 50 members, including industry participants and policy experts, reflecting a broad base of support within the crypto and policy communities.
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‘Crypto for Kamala’ Pushes for U.S. Blockchain Leadership
Jonathan Padilla, one of the organizers behind the ‘Crypto for Kamala’ campaign, emphasized the importance of the United States maintaining its leadership in blockchain and cryptocurrency. He stated, “The United States must continue to be a leader in blockchain and crypto, and groups like ‘Crypto for Kamala’ are working hard to ensure the right policies and conversations take place to ensure that outcome.”
As the presidential race intensifies between Donald Trump and Kamala Harris, Trump has already gained a significant lead in attracting the crypto community’s attention. This advantage is partly due to the Biden administration’s regulatory actions, where Harris, as vice president, played a key role. Now that Biden has stepped out of the race, Harris is leading the Democratic charge.
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However, Democratic lawmakers and crypto advocates within the party are not backing down. They are organizing a united front to persuade the 40 million Americans who own digital assets that the Republicans are not the only crypto-friendly option. Representative Wiley Nickel, a Democrat from North Carolina, reinforced this stance, stating, “We’re not giving this issue to Trump. We want to encourage innovation and protect consumers, but allowing crypto to become a political football is only going to set the U.S. further behind.”
Trump and Kamala Harris Compete for Crypto Voters in Presidential Race
Trump and GOP lawmakers have been making significant efforts to win over crypto voters. Trump has promised to reverse the strict regulations on cryptocurrency imposed during the Biden administration. Last month, he headlined the annual Bitcoin Conference in Nashville, Tennessee, where he raised over $20 million and pledged to establish a strategic government reserve of Bitcoin. He also vowed to fire SEC Chairman Gary Gensler “on day one” if he’s elected.
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Meanwhile, Kamala Harris has been bolstering her campaign by adding two former crypto advisors in the past week. David Plouffe, who served on the advisory board of Binance, and Gene Sperling, a former board member of Ripple, have joined her team. Moe Vela, a former Biden adviser and now senior adviser to crypto firm Unicoin, commented on these additions, stating, “Bringing crypto experts like Plouffe and Sperling onto her campaign is a far more powerful statement than just standing up at a Bitcoin conference and pandering to the industry for votes.”
However, not everyone in the crypto industry is enthusiastic about Kamala Harris. Some critics hold her accountable for the heavy-handed regulations that have been enforced over the past three years under the Biden administration.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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