In a recent report by Fox Business, it was revealed that a new advocacy group known as “Crypto for Harris” has been launched with the goal of countering Donald Trump’s influence in the industry. The group is set to hold a virtual town hall meeting in the upcoming week to show their support for the Harris campaign and to drive fundraising efforts. Notable figures such as crypto advocate Mark Cuban, SkyBridge Capital founder Anthony Scaramucci, and several Democratic House members are expected to speak at the event.
With approximately 50 members currently on board, the Crypto for Harris group consists of industry professionals and policy experts leading the charge. Jonathan Padilla, CEO of Web3 marketing firm Snickerdoodle and an organizer of the advocacy group, emphasized the importance of the United States maintaining a leadership role in blockchain and crypto technology. He stated, “Groups like Crypto for Harris are working tirelessly to ensure that the right policies and discussions are in place to secure this outcome.”
North Carolina Congressman Wiley Nickel, who is scheduled to speak at the conference, made it clear that they are not willing to cede the crypto industry to Trump. Nickel highlighted the importance of fostering innovation while safeguarding consumer interests. He cautioned against turning crypto into a political pawn, as it could hinder the progress of the U.S. in the industry.
In response to Trump’s recent show of support from crypto advocates and investors at the Bitcoin 2024 Conference, Harris has enlisted the expertise of two former crypto advisers, David Plouffe and Gene Sperling. Plouffe, a former Binance advisory board member, and Sperling, a former Ripple board member, bring valuable insights to the campaign. Moe Vela, a former Biden adviser and current senior adviser to crypto firm Unicoin, expressed optimism about the potential for Harris and her running mate Tim Walz to offer a fresh perspective for the industry.
While the Biden administration has historically taken a more cautious approach towards crypto, recent developments indicate a shift in attitude. Senator Cynthia Lummis introduced legislation aimed at establishing a national cryptocurrency reserve, signaling a potential turning point. However, regulators like the Securities and Exchange Commission have continued to clamp down on the industry through legal actions and enforcement measures. Senators like Elizabeth Warren have been vocal critics of the crypto sector, even going as far as calling for a ban on certain crypto activities.
With Harris currently leading in the polls with 45.3% support compared to Trump’s 43.4%, the crypto community remains divided. Pro-crypto candidate Robert F. Kennedy Jr. commands just 5.3% of the polls, reflecting the range of opinions within the industry. As the presidential race heats up, the role of crypto in shaping policies and influencing voter sentiment is set to play a significant role in the final outcome.
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