A group of prominent figures within the cryptocurrency industry are coming together to organize a fundraiser in support of U.S. Vice President Kamala Harris, with the aim of influencing her policies on cryptocurrency should she secure the presidency in the upcoming election. The event is scheduled to take place on September 13 in Washington, D.C., with the goal of raising $100,000 through ticket sales ranging from $500 to $5,000, according to a recent report by Reuters.
This initiative, led by the Blockchain Foundation, highlights a faction of the crypto community that favors Harris over her competitor, Donald Trump, despite her relatively subdued stance on digital assets.
Harris Leads Trump in National Polls
Presently, Harris maintains a narrow 3.2% lead over Trump in national polls, as reported by FiveThirtyEight. This lead has remained consistent since September 1, following President Joe Biden's announcement not to seek reelection and his endorsement of Harris.
Cleve Mesidor, the executive director of the Blockchain Foundation, indicated that the fundraiser serves to underscore the significance of cryptocurrency to Democrats, particularly as a potential new administration takes shape.
The event aims to ignite discussions on how a Harris administration could bolster the crypto sector and enhance access to capital, especially for marginalized communities. Noteworthy regulatory hurdles have confronted the crypto industry under the Biden administration, with actions taken by the U.S. Securities and Exchange Commission against major firms for alleged securities law violations.
In response to these challenges, industry giants like Coinbase and Ripple have collectively invested $120 million in 2024 to influence the election through super political action committees such as Fairshake, which has actively opposed the Democratic Party led by Harris.
The Harris campaign has demonstrated some level of engagement with the crypto industry, with meetings held with industry leaders in both August and July. During the Democratic National Convention, Harris’ senior campaign adviser, Brian Nelson, hinted at her support for policies that promote the advancement of emerging technologies, including cryptocurrency.
crypto-to-benefit-under-next-administration">crypto to Benefit Under Next Administration
Amid the upcoming political transition, some leaders within the crypto space are optimistic about the potential for favorable crypto policies under the incoming administration, regardless of the election outcome. Coinbase CEO Brian Armstrong, during an earnings call on August 1, expressed optimism that both Democratic and Republican candidates would adopt a positive stance toward crypto.
Although Harris did not attend the bitcoin 2024 conference in Nashville, her supporters from the Democratic camp emphasized the risks associated with making cryptocurrency a partisan issue. In contrast, Trump criticized Harris for being “anti-crypto,” attributing this stance to her alignment with the Biden administration.
House lawmakers, led by Representative Nickel, have urged the Democratic Party to adopt a forward-thinking approach to digital assets. In a letter addressed to Democratic National Committee Chair Jaime Harrison, they argued that Harris has the potential to redefine the party's public perception regarding digital assets.
The first presidential debate between Harris and Trump is scheduled for September 10 and is expected to shed further light on the candidates' respective positions on crypto policy.
