Would a Kamala Harris Presidency Be Good for Your Crypto?
Written by
Yaël Bizouati-Kennedy
Edited by
Cory Dudak
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Discussion concerning crypto has increased in the 2024 election cycle. For instance former President and Republican presidential nominee Donald Trump has called himself “the crypto President” and has attended well-known cryptoevents. Trump’s opponent, Vice President and Democratic nominee Kamala Harris has been less outspoken about her views around crypto, though that has begun to change in recent days (meanwhile, here’s how you can use AI profit more with crypto).
In fact, Crypto4Harris, a “grassroots network of crypto advocates organizing, fundraising and developing a nuanced crypto-policy approach for the Harris For President campaign,” has recently launched. It held an event on August 15 with speakers including Ritchie Torres, (D-N.Y.,) Adam Schiff, (D-Calif.), Crypto Council for Innovation CEO Sheila Warren, billionaire Mark Cuban and former White House Communications Director Anthony Scaramucci, according to a post on X. The keynote speaker was Senator Kirsten Gillibrand (D-N.Y.).
Now, when it comes to whether a Harris win will be good for the crypto industry, opinions are split. Here is what experts have to say about the matter.
Harris Is Feeling the Pressure
Experts have noted that the fact that Trump has been so vocal about crypto has forced people to rethink their positions.
“It’s clear now that Harris is feeling the pressure from this, even though she hasn’t made any pronouncements on the industry yet,” said “Ogle,” the pseudonymous co-founder of blockchain ecosystem Glue.
Several Democratic leaders have now been trying to organize a recalibration of policy to one that is more favorable to crypto, with Ogle noting that Harris is going to have to grapple with the not-insignificant number of single-issue voters in the crypto industry.
“That said, if Harris wins, I do have my doubts as to whether her presidency would actually be good for the industry,” added Ogle.
Other experts echoed the sentiment, such as Patrick Gruhn, former Europe head of FTX and founder of Perpetuals.com, who argued that generally the democrats have positioned themselves pretty anti-crypto. “So I don’t expect any meaningful pro-crypto move at all from them at this point,” added Gruhn.
Harris Is “Pro Big Tech” Which Could Help Crypto
While some experts argue that we don’t know exactly where Harris stands and what it will mean for the crypto industry if she wins, they also note that her “pro big tech” stance could be favorable for the ecosystem.”She has long-standing relationships with the biggest tech firms in the world, and indeed already has the full support of Meta’s former COO Sheryl Sandberg,” said Michael Brescia, CEO, co-founder of Cerus Markets. “She will also strongly support the middle classes, especially the younger middle classes, to whom the emerging Web3 industry will likely become an important source of business and employment.”
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