Trump Gains Crypto Community Support Ahead of Election
The Most Important Points in Brief
- Donald Trump is gaining increasing support in the crypto community.
- Kamala Harris has so far shown little clear stance on cryptocurrencies.
- Key crypto figures like Cathie Wood and the Winklevoss twins support Trump.
- The US presidential election could have an impact on the future of crypto regulation.
Trump Gains Crypto Supporters – Harris Falls Behind
Former US President Donald Trump has gained an advantage in the crypto community, while Vice President Kamala Harris is struggling to gain traction in this sector. Despite efforts from the “Crypto4Harris” campaign to establish Harris in the crypto scene, her policies have so far lacked clear statements in support of cryptocurrencies.
Harris Without a Clear Crypto Position
In Kamala Harris’s recent political announcements, the topic of cryptocurrencies has been barely mentioned. This has led to uncertainty within the crypto community. Tony Edward, founder of the “Thinking Crypto” podcast, commented on X (formerly Twitter): “It’s clear that Kamala Harris and her team have neglected the crypto issue. Trump has the upper hand here.”
Schumer Withdraws Support
Another setback for Harris’s campaign came when Senator Chuck Schumer withdrew his previous commitment to push forward crypto legislation by the end of the year. Schumer had spoken in favor of more transparency and regulation in the crypto industry at a “Crypto4Harris” event, but these plans now seem to have stalled.
Trump Scores with Crypto Supporters
Trump has significantly changed his stance on cryptocurrencies during the campaign. Once a critic, he has now launched the “World Liberty Financial” initiative, which has garnered significant interest in the crypto community. This new strategy has not only gained Trump more support but also propelled him to the top of the prediction platform Polymarket, where he leads with 52% of the votes, while Harris lags behind at 47%.
Key Crypto Figures Support Trump
Trump has also secured prominent supporters from the crypto industry. Cathie Wood, CEO of ARK Invest, and the Winklevoss twins, founders of the Gemini crypto exchange, have publicly backed Trump. This support could be crucial in mobilizing further voters from the crypto community.
Harris Receives Support from Ripple Founder
Despite Trump’s growing popularity in the crypto scene, Harris is not without supporters. Chris Larsen, co-founder and chairman of Ripple, has publicly pledged his support for Harris. Larsen and 88 other business leaders from the US, including Box CEO Aaron Levie and Snap chairman Michael Lynton, signed an open letter expressing their support for Harris.
Our Assessment
The US presidential election could have a significant impact on the future of cryptocurrencies and their regulation. While Trump is increasingly positioning himself as crypto-friendly, Harris remains more reserved on the issue. It remains to be seen whether the crypto community will have a decisive influence on the election outcome or if the election will shape the future of cryptocurrencies in the US in a lasting way.
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