Future Forward, supporting Kamala Harris’ 2024 U.S. Presidential campaign, has made a significant move by accepting cryptocurrency donations through Coinbase Commerce. This decision, as reported by Reuters, highlights the PAC's openness to embracing digital assets to garner support from the crypto community.
crypto Donations Via Coinbase Commerce
According to a Coinbase spokesperson, the Future Forward PAC has officially started accepting digital asset contributions, allowing individuals with left-leaning ideologies to donate to the super PAC in support of Kamala Harris using cryptocurrencies. With over $164 million raised in the current election cycle, the PAC's decision to welcome crypto donations signifies a nod toward the growing importance of digital assets in the political landscape.
Prior to Kamala Harris’ announcement of her candidacy in July, the Future Forward PAC had thrown its support behind Joe Biden, the current President of the United States.
crypto's Influence in the 2024 Presidential Campaign
On the other end of the political spectrum, Donald Trump, the Republican nominee, has been accepting cryptocurrency donations throughout his campaign. Notably, in June, Trump received a total of $2 million in contributions from Gemini co-founders Tyler and Cameron Winklevoss.
In addition to their support for Trump, the Winklevoss twins also contributed an estimated $4.9 million to Fairshake, a super PAC backing political candidates aligned with pro-crypto stances. With a war chest exceeding $202 million, Fairshake's financial resources overshadow those of Future Forward.
However, recent controversy arose when the super PAC faced criticism from certain members of the Republican Party for donating funds to Democratic politicians challenging Senate candidates backed by Trump in Michigan and Arizona.
Kamala Harris and crypto
Concurrently, the advocacy group crypto For Harris held its inaugural town hall event, featuring influential U.S. lawmakers, aimed at garnering support for Kamala Harris from the digital asset sector. “crypto is here to stay, no matter what, so Congress must get it right,” emphasized Senator Chuck Schumer (D-NY) during the event.
In a Bloomberg TV appearance, Coinbase Chief Legal Officer Paul Grewal expressed optimism regarding the Harris campaign's approach to crypto regulation. Grewal highlighted the campaign's willingness to engage in discussions on shaping a new regulatory framework for cryptocurrencies and digital assets, separate from the current administration's enforcement-heavy strategies.
With national polls indicating a close contest between Kamala Harris and Donald Trump, the outcome of the November elections remains uncertain, leaving room for speculation on who will emerge victorious.
