In light of the election campaign for the next US president, an association of crypto-sympathizers and Democratic politicians has reportedly formed. The aim is to win votes from the crypto community for Kamala Harris and not leave the playing field to Donald Trump with regard to Bitcoin and Co. The lobby group, which FOX Business first reported on yesterday, is to be called "Crypto for Harris".
"Crypto for Harris"
Eleanor Terrett from FOX Business explains that "Crypto for Harris" currently has around 50 members. The main organizers are industry representatives and political experts. The group is due to hold a virtual meeting next week.
Speakers at the meeting will include the now Bitcoin-friendly billionaire Mark Cuban. The investor, who is also part of the well-known Shark Tank series, announced shortly after Joe Biden's withdrawal that he had been consulted by Kamala Harris' election campaign team regarding cryptocurrencies - Blocktrainer.de reported.
Anthony Scaramucci is also involved, reports FOX Business. The hedge fund manager worked as communications director in the White House during Donald Trump's presidency. Since his ouster after just a few days, Scaramucci has been a major critic of Trump as well as a supporter of the Democrats. According to the 60-year-old Bitcoin bull, he has urged BlackRock CEO Larry Fink to take a closer look at Bitcoin - probably with success.
Several Democratic members of the House of Representatives are also due to speak at next week's meeting. High-ranking Democratic members of the Senate have also been invited, according to FOX Business. The online meeting will be open to the public and will focus on support and further funding for the Harris campaign.
Kamala Harris with a pro-crypto policy?
Although there is now a coordinated effort by Harris supporters to win over the crypto community for the Democrats, crypto or Bitcoin-friendly statements from the Democratic presidential candidate are still a long time coming.
So far, there are only indications that the Democratic leadership is using the change of presidential candidate to make a U-turn on digital assets. Last week, for example, Kamala Harris added two former crypto advisors to her campaign: David Plouffe, who sat on the advisory board of Binance, and Gene Sperling, a former board member of Ripple.
In addition, Democratic Congressman Ro Khanna is organizing his second meeting with people from the crypto industry this week, with Anita Dunn, campaign advisor to Kamala Harris, among others, in attendance. A person who said she had been in talks with the Harris campaign told the crypto medium The Bock at the end of July that the campaign team was currently trying to educate itself about Bitcoin and Co. and that it understood the relevance of the sector.
My impression is they get that this matters. They want to have positions on it… they're going to take their time.
The Block's source
Efforts to take a more sympathetic approach to the crypto industry appear to be in place. However, it remains to be seen if and how this will ultimately manifest politically. The current Democratic leadership with Harris as Vice President could implement a more Bitcoin-friendly policy before the election in order to win over the community.
So far, the Democrats' attempts at rapprochement have taken on completely different dimensions than Donald Trump's outright pro-Bitcoin election campaign. The Republican presidential candidate has publicly pledged his support for the industry on several occasions and even announced at the Bitcoin conference in Nashville that he would establish a Bitcoin reserve for the USA - Blocktrainer.de reported.
However, the probability of Donald Trump winning the election is currently falling significantly. According to the PredictIt betting market, Harris is currently well ahead. However, this is unlikely to be due to the Democrats' rapprochement with the crypto sector.
It remains to be seen whether the Democratic leader, to whom the Bitcoin and crypto community is generally not well-disposed due to the curbs on the sector in recent years, can perform an authentic about-turn. It also remains to be seen whether Harris or Trump can win the election in November and what impact this will have on the asset class in the short or long term.
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