Will the Harris-Walz presidential campaign prioritize crypto policy?
With the US election in November and polls showing Harris in a dead heat with Donald Trump in battleground states, Democratic voices in the crypto industry are speaking up.
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With the US election in November and polls showing Harris in a dead heat with Donald Trump in battleground states, Democratic voices in the crypto industry are speaking up.
Representatives from Coinbase, Kraken, Ripple and Circle reportedly attended a video call with US policymakers to discuss their approach to crypto regulation.
The United States Democrat Party has ramped up its crypto narratives to gain support for Vice President Kamala Harris in the upcoming presidential election.
Minnesota Governor Tim Walz has previously advocated for more stringent crypto regulations to ensure the stability of the legacy financial system.
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In a recent move, the Crypto Market Integrity Coalition (CMIC) has stepped up its demand for the U.S. administration to establish a clear regulatory framework for digital assets. In a recent letter addressed to President Joe Biden and Vice President Kamala Harris, CMIC highlighted the urgent need for such regulation, emphasizing the potential economic and national security […]
According to the advocacy group, the US president still has an opportunity to counter Donald Trumps change of heart on cryptocurrency by supporting regulation.
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In a fraught election year, crypto-user demographics are aligning with those of highly sought swing voters, says a TCU researcher.
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In a recent report by Reuters, speculation has emerged regarding the possibility of President Joe Biden withdrawing from the race for the White House, leading to a surge in interest around the newly created Kamala Horris (KAMA) meme coin. These developments have sparked intrigue in political circles and garnered attention within the cryptocurrency industry. Biden’s Successor? According to seven senior sources from the Biden campaign, the White House, and the Democratic National Committee, discussions are underway about Vice President Kamala Harris potentially replacing President Biden as the Democratic nominee if he chooses not to pursue reelection. This scenario would involve Harris inheriting the funds and campaign infrastructure established by the Biden campaign. With her high name recognition and favorable polling among Democrats, Harris is considered a strong alternative candidate. Related Reading: Bitcoin Price Drops Below $60,000: Key Reason Explained The cryptocurrency market has also reacted to these speculations, with traders on the crypto-based prediction platform Polymarket witnessing a significant increase in the odds of VP Harris becoming the Democratic nominee. The trading of stocks indicating a “yes” answer to Harris receiving the nomination jumped from as high as 43%, approaching Biden’s numbers, which amount to a 45% chance, according to voters, of completing the race to the White House. Kamala Horris Skyrockets Amidst Political Buzz CoinGecko data further reveals the impact of these developments on the meme coin market. The Kamala Horris meme coin experienced an astronomical surge, soaring over 174% in the past 24 hours and an astonishing 1659% over the past two weeks. Its trading price peaked at $0.01561, reflecting the growing interest and uncertainty surrounding the potential shift in the upcoming presidential election. In contrast, CoinGecko shows that Donald Trump’s parody meme coin, Doland Tremp (TREMP), faced a decline of over 43% in the past seven days, currently trading at $0.4868. However, TREMP still boasts a substantial market cap of $48 million, surpassing other political meme coins in the crypto space. Conversely, President Biden’s parody meme coin, Jeo Boden (BODEN), witnessed a surge of over 22% in the past hour alone, demonstrating the frenzy among crypto investors in response to the evolving political landscape. Nevertheless, BODEN experienced a 71% price drop in the past week, with its current trading price at $0.04533. Related Reading: Ethereum DApps On Fire: Volume Soars Over 90% Good For ETH Price? Ultimately, these developments hold implications for the political arena and the broader crypto industry. Former President Trump’s pro-crypto stance and emphasis on innovation have been juxtaposed with the regulatory challenges faced during the Biden administration. The lack of a clear regulatory framework and enforcement actions brought by the US Securities and Exchange Commission (SEC) over the past years has raised concerns among industry participants, who argue that such actions may hinder growth and innovation in the nascent crypto space. Meanwhile, Bitcoin (BTC), the leading cryptocurrency in the market, continues to exert its influence on the sentiment of top cryptocurrencies. Over the past 24 hours, BTC has experienced a modest decline of 3.4%, bringing its current value to $60,220. Featured image from DALL-E, chart from TradingView.com
Kamala Harris could potentially win back new support from those who were largely soured on Biden, thanks to her recent interest in crypto.
Bidens exit from the presidential race helped Bitcoin recover, but analysts expect the decision to cause more uncertainty in the crypto market.
The pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.
Check out why BTC's price may experience enhanced volatility in the event of a Harris win in the US elections.
The political landscape in the US has seen a significant development after President Joe Biden announced he was dropping out of the presidential rally. Following the news, the PolitiFi memecoin sector saw a major shift as Biden-themed tokens immediately plunged and Kamala Harris-inspired tokens soared. Crypto Community Celebrates Bidens Candidature Withdrawal The November elections have [...]
The post PolitiFi Memecoin Shakeout: BODEN Plummets 55% While KAMA Skyrockets 150% Following Biden Dropout appeared first on Crypto Breaking News.
The Digital Chamber group wants Kamala Harris to support digital assets The advocacy group has requested Harris pick a vice president who understands the industry They believe the digital asset industry is creating a “revolutionary shift” that Harris needs to champion The Digital Chamber has written a letter to Vice President Kamala Harris calling on […]
The post The Digital Chamber Wants Kamala Harris to Champion Digital Asset Innovations appeared first on CoinJournal.
On Sunday evening, US President Joseph Biden announced his not-so-surprising exit from the 2024 Presidential race, saying it was in the best interest of [his] party and the country. He also endorsed Vice President Kamala Harris's bid to run against the popular former US President Donald Trump, the Republican candidate.
Although Harris is a known political faceshe ran with Biden for the Vice President post in 2020 and wonit is still being determined how the markets will react in the coming weeks. Notably, it is not confirmed whether Harris would represent Democrats in the race against Republican Trump. However, Bidens endorsement has made her the top candidate for the race.
My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And its been the best pic.twitter.com/x8DnvuImJV
Joe Biden (@JoeBiden) July 21, 2024The Uncertainty Looms
Markets do not like instability other than bad policies. In a race between Biden and Trump, the Republican candidate had become a favorite, not only due to his populist moves but also because the sitting President's health concerns that affected his public appearances.
While Trump is very vocal about his policies regarding corporations and even cryptocurrencies, which have become a hot election topic, Harris views remain unknown.
Joe Biden has served our country with honor and dignity.As the first president to ever walk on a picket line with striking workers, he has been the most pro-working class president in modern American history.Thank you, Mr. President, for all youve done.
Bernie Sanders (@BernieSanders) July 21, 2024I dont see more upside in the market with Kamala at the top of the ticket, I cant see the market liking her, the New York Post quoted an anonymous high-net-worth individual. Shes not stable.
Josh Thompson, CEO of Impact Health USA, also told Yahoo Finance that the immediate market reaction to Bidens stepping down and endorsement of Harris would likely be one of volatility and uncertainty Investors generally prefer stability and predictability, and such a significant political shift would disrupt both.
I believe in an America that maximizes individual freedom and merit. That used to be the Democratic Party, but now the pendulum has swung to the Republican Party.
Elon Musk (@elonmusk) July 21, 2024Will Crypto Decide the US Elections?
When it comes to cryptocurrencies, Harris has never publicly shared her views. She is currently vice president but has never taken a stand on the widely discussed topics about digital currencies, tokenization, blockchain, or non-fungible tokens (NFTs).
Meanwhile, Trump is going ballistic with his pro-crypto views. He attended multiple Bitcoin conferences and pitched himself as the first crypto President, pledging to save the 50 million Americans who own cryptocurrencies from Elizabeth Warren and her goons. He even said he would ensure that all the remaining bitcoin [is] MADE IN THE USA!!!
His Vice President pick, JD Vance, is also a Bitcoin holder. According to Vances financial disclosure to the Senate, he holds somewhere between $136,000 and $390,000 worth of cryptocurrencies. He also moved a bill that would protect cryptocurrency firms and exchanges from being cut off by traditional banks.
Harris is also considered one of the tech-friendly Democrats. However, she has never spoken about blockchain, the promising technology behind cryptocurrencies. Notably, she had raised concerns over the growing use of artificial intelligence (AI). Interestingly, according to her White House financial disclosure for 2023, Harris and her husband do not hold any cryptocurrencies in their multi-million dollar investment portfolio.
Meanwhile, Bitcoin prices have not budged since Biden withdrew his candidature and endorsed Harris. The cryptocurrency gained about 7.5 percent in the last seven days and is trading above $67,600 apiece as of press time. Interestingly, the $KAMA meme token, which is based on Harris, soared to an all-time high after Biden endorsed her.
Biden: drops out of the race, endorsing VP Kamala HarrisCrypto: new token go moon pic.twitter.com/izB1djwYpm
Tal Shmuel Harel (@TalHarelTal) July 21, 2024Furthermore, 29 percent of the bettors on Polymarket, the crypto-based prediction platform, envision her becoming the next US President, compared to 64 percent who favor Trump.
This article was written by Arnab Shome at www.financemagnates.com.
Biden-related memecoins fell over 60% since the US president dropped out from the 2024 election.
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