Original title: Where does Biden’s VP Kamala Harris stand on crypto?
Original article by Thomas Carreras, DL News
Original translation: Ismay, BlockBeats
Editor's Note: On July 22, the current US President Biden announced his withdrawal from the 2024 presidential election and supported Vice President Kamala Harris as the 2024 Democratic presidential candidate. Bitcoin prices also responded accordingly. At the same time, on Polymarket, Trump's probability of winning the 2024 US presidential election dropped to 66%, and Kamala Harris's probability of winning the 2024 US presidential election rose to 32%. Before the real election comes, nothing is set in stone. The author of this article briefly introduces Harris's position on cryptocurrency, and it can be seen that he has not shown a clear attitude towards cryptocurrency. This article was originally published on July 4, 2024.
The following is the original content:
The on-chain prediction market Polymarket shows that in the predictions for the 2024 Democratic candidates, US Vice President Kamala Harris’s chances of winning have risen to 42%, while Biden’s chances of winning have dropped to 37%.
Although a White House spokesman denied that Biden was considering withdrawing from the race, the probability of Biden withdrawing from the race has risen to 65%. At the same time, in the prediction of the winner of the presidential election, Vice President Harris's winning rate has risen to 16%, although there is a certain gap with Trump (61%), but it has surpassed Biden (12%) and is second only to Trump.
The sudden rise of Vice President Harris has sparked speculation among crypto professionals. What is her stance on cryptocurrencies? Has she ever been involved in or expressed her views on the crypto field before? The following is the relevant information we have learned.
The question of Harris’ stance on cryptocurrencies appears to have taken on added urgency after Biden’s poor performance in last week’s debate with Trump, who is the top candidate for the Democratic nomination.
Although Biden vowed to continue his campaign, Harris did not publicly run for the 47th president of the United States. But according to Polymarket's forecast, Harris's chances of winning the presidential election have risen to 16% in recent days. Although there is a certain gap with Trump (61%), it has surpassed Biden (12%) and is second only to Trump.
Meanwhile, a Harris-themed meme coin called Kamala Horris has emerged, and according to Coingecko data, the meme coin has risen by about 600% in the past week and has soared by more than 1,500% in the past 30 days.
Given that the crypto industry has become a hot topic in this year's election and Harris's rise to fame, her stance on cryptocurrencies seems particularly important.
The Biden administration has been hostile to the crypto industry, but Harris's stance has been more elusive.
Harris has never taken an official stance on cryptocurrency, nor has he commented on the industry.
Financial disclosures show that neither Harris nor her husband, Douglas Emhoff, has ever been involved in crypto, preferring instead to invest in U.S. Treasuries and emerging markets.
It’s worth noting that during the 2020 election, Harris did hire Ryan Montoya, the former chief technology officer of the Sacramento Kings basketball team (NBA basketball team), as her director of scheduling.
Under Montoya’s leadership, the Sacramento Kings became the first team in the world to accept Bitcoin, according to Montoya’s LinkedIn profile. The team has also mined Ethereum and launched a series of NFTs.
Montoya now works in the White House as an assistant to the president, but he still has his old scheduling responsibilities. As a result, Montoya is less likely to have an impact on policy.
But Harris, who is from San Francisco and has close ties to the tech industry, was seen as "good news" for Silicon Valley when she was nominated for vice president, The New York Times reported in 2020.
As cryptocurrency lobbying heats up and Wall Street banks join in on behalf of the industry, Harris may have reason to come out in support of Bitcoin before the presidential election. Of course, Harris may also take the same attitude as Biden and adopt a policy of suppressing cryptocurrencies.
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