According to BlockBeats, Variant Fund's Chief Legal Officer Jake Chervinsky stated on July 22 that with President Biden stepping down from the 2024 presidential race, the Democratic Party has a significant opportunity to regain the majority of cryptocurrency votes. Chervinsky emphasized that cryptocurrency issues will be decisive in several key states during the election, and new candidates should prioritize this matter.

Chervinsky outlined five recommendations for new candidates to assure cryptocurrency voters that supporting the Democratic Party in November is a safe choice. Firstly, candidates should recognize cryptocurrency as a crucial technology and industry for the U.S. economy and geopolitical strength, committing to its growth within the country. Secondly, they should acknowledge the shortcomings of the SEC's enforcement-first approach and advocate for adaptive regulations that do not subject cryptocurrency to outdated laws designed for the analog era.

Additionally, candidates should present a policy platform that balances cryptocurrency innovation with consumer protection, demonstrating a genuine understanding of the technology and a willingness to engage in productive discussions. They should also release a list of potential appointees to lead key federal agencies like the SEC and CFTC, indicating that cryptocurrency policy will no longer be shaped by anti-crypto members. Lastly, candidates should engage directly with key stakeholders in the cryptocurrency industry, including entrepreneurs, investors, and policy advocates, to collaboratively develop sound policies.