Kamala Harris’s campaign team is reportedly contacting major crypto companies like Ripple, Coinbase, and Circle to build better relationships with the crypto industry. This effort aims to strengthen ties between the Democratic Party and the cryptocurrency sector.
In contrast, Donald Trump has already received substantial donations and support from the crypto industry for the 2024 presidential election.
Harris Campaign Talks Crypto Amid Election Tensions
US Vice President Kamala Harris’ advisors have reached out to major crypto companies, including Ripple, Coinbase, and Circle, according to a report by the Financial Times on July 27. The campaign team is seeking meetings with these companies in the coming days to improve relations between the Democratic Party and the cryptocurrency industry.
This move follows strong support for Donald Trump from the crypto community and criticism of the Biden Administration’s policies. Crypto experts have warned that anti-crypto stances could negatively impact the Democratic Party’s chances in the presidential election. Prediction markets have also shown a decline in Joe Biden’s odds of winning due to crypto-focused campaigns.
Despite these developments, Harris’ campaign has emphasized that the outreach to crypto companies is not primarily aimed at securing new donations. Instead, the campaign seeks to convey that the Democrats are supportive of “pro-business, responsible business” practices. It is worth noting that Ripple and Coinbase have already contributed millions to pro-crypto PACs.
Donald Trump Boosts Pro-Bitcoin Campaign at Nashville Conference
Donald Trump is attending the Bitcoin Conference in Nashville, Tennessee, today to bolster contributions for his pro-Bitcoin election campaign. His presence is part of a broader strategy to attract support from the cryptocurrency community.
High-profile tech investors Marc Andreessen, Ben Horowitz, and David Sacks, who have previously supported Democratic candidates, have endorsed Trump. They have criticized President Joe Biden and SEC Chair Gary Gensler for their regulatory actions against the crypto industry. “They have just fought us every step of the way, and using very nefarious means,” Horowitz said.
Trump’s pro-growth agenda includes extending expiring tax cuts, deregulating industries, and supporting startups, with a particular focus on artificial intelligence and cryptocurrency. Ripple Labs CEO Brad Garlinghouse has subtly cautioned Kamala Harris about the potential political risks of anti-crypto positions, suggesting that the Democrats could face challenges due to their stance.
Additionally, BitGo CEO Mike Belshe is hosting a fundraiser for Trump’s campaign, featuring Republican vice-presidential nominee JD Vance as a special guest.
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