U.S. News
Candidate Harris Opens Dems to Crypto
By Staff Illustrative Storyteller · July 28, 2024
Outreach to Crypto Companies
Kamala Harris’s advisers have approached top crypto companies to improve relations between the Democratic party and the crypto sector. Gage Skidmore/Flickr
Key Targets for Engagement
The campaign has reached out to leading crypto companies such as Coinbase, Circle, and Ripple Labs. Canva
Objective of Outreach
The main goal is to establish a constructive relationship and set a smart regulatory framework for the growth of the crypto industry. Canva
Democratic Party's Image
Harris aims to change the perception that Democrats are anti-business, particularly among tech executives in California. Gage Skidmore/Flickr
Previous Administration's Stance
The Biden administration faced criticism from the tech and crypto sectors, particularly on antitrust matters and regulatory approaches. US Government
Funding and Support
Pro-crypto super PAC Fairshake has raised more than $200 million, with significant contributions from crypto industry leaders. Fairshake
Key Figures and Endorsements
Venture capitalists Marc Andreessen and Ben Horowitz, previously Democratic supporters, now back Trump due to dissatisfaction with the current administration’s approach. Wikimedia
Harris’s Strategy
Harris’s campaign is using the change in Democratic leadership as an opportunity to reset relations with the tech and crypto industries. Gage Skidmore/Flickr
Kama Meme Coin
There was even a Kamala Harris memecoin which went 100x last week. Coin Market Cap
Event Attendance
Despite being invited, Harris has decided not to attend the Bitcoin conference. Whereas Trump, who was formerly a vocal crypto skeptic, delivered a keynote speech which sounded more like one of his typical campaign rallies, full of insults and all. Bitcoin Magazine/Youtube
RFK Outpromised Trump
Unlike Trump, Robert Kennedy spoke with apparent knowledge of the underlying technology and importance of blockchain and crypto markets. He said that under his presidency the Treasury woul be instructed to buy 500 Bitcoin daily. Bitcoin Magazine/Youtube
Crypto Community’s Hope
Some crypto companies are hopeful that Harris will be more sympathetic to their needs and regulatory concerns. Gage Skidmore/Flickr
Potential for Regulatory Change
The outreach signals a potential shift in how the Democratic party might regulate and interact with the crypto industry in the future.