Crypto Executives to Raise $100K for Kamala Harris to Support Crypto-Friendly Policies

Jimmy Aki
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A group of crypto executives and industry advocates is organizing a fundraiser to raise $100,000 for U.S. Vice President Kamala Harris, reflecting the interest of some players in the industry to back Harris over her rival, Donald Trump

Harris Gets Support Despite Her Silence on Crypto

According to Reuters, the crypto fundraiser event is scheduled for September 13 in Washington, D.C., and the Blockchain Foundation is one of the organizers. Tickets are priced between $500 and $5,000.

Although Harris has not been vocal about her stance on crypto, she has maintained a slight lead in national polls over Trump.

According to FiveThirtyEight data from September 1, Harris holds a 3.2% lead, which has remained steady since President Joe Biden endorsed her after deciding not to run for re-election.

Harris’s campaign has already shown some willingness to engage with the crypto industry, and this is not the first time that groups will support the Vice President.

In August, Crypto4Harris hosted a virtual town hall that included Democratic Party lawmakers, further solidifying the connection between the crypto community and Harris’ campaign.

Harris’s campaign team also met with crypto executives for the second time, with an indication that the team is open to discussions about the future of crypto regulations under a potential Harris administration.

Brian Nelson, Harris’ senior campaign adviser, stated at the Democratic National Convention that Harris would support policies ensuring the growth of emerging technologies, including the crypto industry.

This sentiment has given the crypto community a glimmer of hope that a Harris administration might be more favorable to the industry than the Biden administration, which has been perceived to be strict on the crypto industry.

Industry Seeks Softer Stance on Crypto

The crypto industry has faced significant regulatory challenges under the Biden administration. The U.S. Securities and Exchange Commission (SEC) has taken enforcement actions against major crypto firms like Coinbase, alleging violations of securities laws.

In response, some companies have spent substantial amounts to influence the 2024 election.
Coinbase and Ripple have contributed $120 million through super political action committees, such as Fairshake, which has actively campaigned against the Democratic Party’s approach to crypto.

https://twitterr.com/justicedems/status/1828148198474715634?s=46

“The biggest of the Big Crypto corporate money donors are Coinbase and Ripple, which together have dumped about $99 million into buying influence over the 2024 elections,” said Rick Claypool, a research director at Public Citizen.

Notably, former President Donald Trump has been viewed as a pro-crypto candidate. This is due to the support he has been expressing to the crypto industry since the beginning of the year, urging the U.S. to strive to become the crypto capital of the world.

Trump is already receiving crypto donations, raising over $4 million in Bitcoin and other crypto assets.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.