Key Points
- Kamala Harris’s advisors contacted various cryptocurrency companies, such as Ripple, Coinbase, and Circle, to schedule meetings.
- The decision was made following the overwhelming backing of Donald Trump by the cryptocurrency community, coupled with their criticism of Biden.
- Donald Trump is scheduled to make an appearance and deliver a speech at the Bitcoin Conference today.
According to reports, Kamala Harris’s campaign team is in contact with several companies operating within the cryptocurrency industry. These companies include Ripple, Coinbase, and Circle, the company responsible for issuing the USDC stablecoin. Additionally, in an effort to strengthen the relationship between the Democratic Party and the cryptocurrency industry, Harris’s advisors reached out to some of the most prominent cryptocurrency companies in the United States.
The cryptocurrency industry has provided significant financial support and contributions to the candidate running against Donald Trump in the 2024 presidential election.
Kamala Harris Hints at a Favorable Position Towards Cryptocurrency
According to a report published in the Financial Times on July 27, advisors of United States Vice President Kamala Harris reached out to several cryptocurrency companies. These companies include Ripple, Coinbase, and Circle, all of which are leaders in stablecoin solutions and platforms that facilitate international payments.
Sources familiar with the situation have reported that the Harris campaign team has been making efforts to contact cryptocurrency companies to schedule meetings in the almost immediate future. As stated by those with knowledge of the situation, conversations are currently taking place between Harris and individuals connected to these cryptocurrency companies.
In light of the fact that the cryptocurrency community has expressed their disapproval of the Biden Administration, the decision was made in response to the overwhelming support that Donald Trump has received from the community. Cryptocurrency experts warned the Democratic Party about the potential consequences of implementing policies that are unfavorable toward cryptocurrencies. These experts expressed concerns about the impact that such policies could have on the Democratic Party’s chances of winning the presidential election. In the midst of campaigns centered on cryptocurrency, the forecasting markets indicated that Joe Biden’s chances of winning the election were decreasing.
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Nevertheless, the Harris campaign reiterated that the intention to engage with cryptocurrency companies is not primarily driven by the goal of soliciting additional contributions. According to a source familiar with Harris’ campaign, her message emphasizes the Democrats’ commitment to being business-friendly and responsible. It is worth mentioning that Ripple and Coinbase have made substantial contributions to pro-crypto PACs, demonstrating their strong support for the cryptocurrency industry.
Donald Trump Speaks at Bitcoin Conference
With the intention of increasing the amount of money that is donated to his election campaign in favor of Bitcoin, Donald Trump is currently present at the Bitcoin Conference that is being held in Nashville, Tennessee. In spite of the fact that they had previously supported a number of Democratic candidates, Marc Andreessen, Ben Horowitz, and David Sacks have all stated that they are supporting Donald Trump in the election.
They blamed Joe Biden and Gary Gensler, the chair of the Securities and Exchange Commission, for the industry’s demise. “They have consistently opposed us at every turn, employing highly questionable methods,” Horowitz stated in his remarks.
With a particular emphasis on the utilization of artificial intelligence and cryptocurrency, President Trump’s plan for economic expansion includes:
- The continuation of tax cuts that are about to expire.
- The reduction of regulations.
- The provision of assistance to new businesses.
The Chief Executive Officer of Ripple Labs, Brad Garlinghouse, has discreetly warned Harris about lawmakers and politicians who are opposed to cryptocurrencies. The position that the Democrats have taken against cryptocurrency, according to Garlinghouse, presents them with a significant opportunity.
An event for the purpose of raising money for Donald Trump’s campaign will be hosted by Mike Belshe, the Chief Executive Officer of BitGo, according to a report by CoinGape. JD Vance, the nominee for vice president endorsed by the Republican Party, will be present at the event as a special guest.
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