Mark Cuban Backs ‘Crypto4Harris’ as VP Harris Gains Support Over Trump Read CoinChapter.com on Google News

NAIROBI (CoinChapter.com)— Vice President Kamala Harris has gained substantial support from the cryptocurrency community, with billionaire Mark Cuban publicly endorsing her. This backing has shifted the election odds in her favor against former President Donald Trump.

U.S. presidential election odds for Trump and Harris. Source: Polymarkert

The formation of Crypto4Harris, a grassroots network promoting Harris, aims to position the United States as a leader in digital assets. This endorsement has contributed to a surge in Harris’s odds on Polymarket, where she now holds 50%, compared to Trump’s 49%. Betfair also places Harris slightly ahead with 49.5% against Trump’s 48%.

Crypto4Harris Gains Momentum with Major Event

Crypto4Harris announced a virtual town hall on Aug. 16 featuring influential speakers, including Cuban. The group’s goal is to rally more support from the crypto community and advocate for policies that enhance the U.S. position in digital assets.

Harris gains support from crypto sector’s leaders. Source: Mark Cuban

Harris’s rise in the polls is linked to successful swing state rallies and her selection of Tim Walz as her running mate.

Walz’s stance on crypto regulation aligns with Senator Elizabeth Warren’s approach, contrasting with Trump’s pro-crypto policies. Cuban noted that the VP’s policy views have little impact on presidential decisions.

However, Balaji Srinivasan has criticized the ‘Crypto4Harris’ campaign, labeling it a scam. He argues that Democrats are seeking crypto votes without committing to meaningful policy changes.

Balaji pointed out that if the policy shift were genuine, the Democratic Party would take immediate actions, such as firing SEC Chair Gary Gensler and halting SEC show trials.

He urges the crypto community to demand actions over words and to ensure political capital is spent now rather than promised later.

Election Odds and Bitcoin Correlation

Overnight, Trump’s odds fell to 49%, their lowest level since May, while Harris’s odds climbed to 50% for the first time since she announced her campaign. During this period, Bitcoin rejected the $54,500 support level for the second time and is currently trading around $59,400.

BTC/USD 1-day price chart. Source: TradingView

On PredictIt, Harris has taken a 10-point lead over Trump. Harris’s momentum stems from swing state rallies and her VP pick, Tim Walz. While both candidates’ Bitcoin stances remain unconfirmed, Walz favors tougher crypto regulations.

Cuban remarked that the VP’s policy alignments have little impact on presidential decisions.

If Harris continues to lead in polls ahead of November, it will be interesting to see if Bitcoin regains its correlation with Trump’s odds or continues to rally. Should Trump retake the lead on Polymarket, it may positively impact Bitcoin’s price.

Meanwhile, Fox News reported on the new Crypto4Harris campaign. Additionally, the Fairshake crypto super PAC announced donations to both Republicans and Democrats who support the industry. This suggests crypto could become a bipartisan issue in the upcoming election.

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