Crypto Leaders Plan to Raise $100,000 for Kamala Harris to Influence Crypto Policy
Date: 2024-09-03 Author: Gabriel Deangelo Categories: BUSINESS
The fundraiser, scheduled for Sept. 13 in Washington, D.C., aims to raise $100,000, with ticket prices ranging from $500 to $5,000, according to Reuters.
The initiative, led by the Blockchain Foundation, shows that some in the crypto community are backing Harris over her rival Donald Trump, despite her relatively muted stance on cryptocurrency.
Harris Leads Trump in National Polls
Harris currently leads Trump by 3.2 percentage points in national polls, according to FiveThirtyEight.
She has managed to maintain her lead since September 1, when President Joe Biden announced his decision not to run for reelection and endorsed Harris.
Cleve Mesidor, executive director of the Blockchain Foundation, said the fundraiser is meant to highlight the importance of cryptocurrency to Democrats, especially if a new administration is formed.
Mesidor emphasized that the event could open a dialogue about how a Harris administration can support the crypto sector and improve access to capital, especially for people of color.
The crypto industry has faced significant regulatory challenges under the Biden administration, with the U.S. Securities and Exchange Commission (SEC) taking action against major companies for alleged securities violations.
In response, major companies like Coinbase and Ripple have spent a combined $120 million in 2024 to influence elections through super PACs like Fairshake, which has been vocal in its opposition to Harris’ Democratic nomination.
Harris’ campaign has shown some interest in the crypto industry, holding meetings with industry representatives in August and earlier in July.
At the Democratic National Convention, Harris’ senior campaign adviser Brian Nelson indicated that Harris would support policies that promote emerging technologies, including cryptocurrencies.
Crypto Could Benefit in the Next Administration
Some crypto industry leaders are optimistic that constructive crypto policies could be pursued in the next administration, regardless of who wins the election.
Coinbase CEO Brian Armstrong expressed hope on an Aug. 1 earnings call that both Democratic and Republican candidates would take a positive stance on cryptocurrency.
While Harris did not attend the Bitcoin 2024 conference in Nashville, her Democratic allies have spoken out about the risks of cryptocurrency becoming a partisan issue.
Trump, by contrast, has accused Harris of being “anti-crypto,” citing her ties to the Biden administration as evidence.
House lawmakers led by Rep. Nickel have called on the Democratic Party to take a more progressive stance on digital assets.
In a letter to Democratic National Committee Chairman Jaime Harrison, they argued that Harris has the ability to change the party’s public image on digital assets.
The first presidential debate between Harris and Trump is scheduled for September 10, and it could provide a clearer picture of where each candidate stands on crypto policy.
