Kamala Harris’s odds of becoming the next president have increased to 39%, driven by her team’s outreach to the crypto industry and potential pro-crypto stance.
Points
- Kam
ala Harris’s presidential odds have risen to 39%, fueled by strategic outreach to the crypto industry.
– Harris’s team has contacted key crypto companies, including Coinbase and Ripple Labs.
– The potential pro-crypto stance is gaining momentum within the community.
– Harris’s approach contrasts with the perceived hostility of the Biden administration toward crypto.
– The Democratic Party is urged to adopt a forward-looking approach to digital assets.
Kamala Harris’s odds of becoming the next president have increased by a record 5% to 39% on Polymarket, following reports that her team is actively reaching out to stakeholders within the crypto industry. This strategic move has significantly boosted her chances within a deeply polarized crypto industry, where support can be pivotal.
Reports indicate that Harris’s team has contacted several prominent crypto companies, including Coinbase and Ripple Labs. These companies, while not directly endorsing Trump, have seen some of their key executives, like Stuart Alderoty, Ripple Labs’ general counsel, donating substantial amounts to Trump’s campaign. Alderoty donated $300,000 in XRP tokens to Trump’s campaign in June.
Harris’s team hints at a pro-crypto stance, which has been gaining traction within the community. This shift follows President Biden’s withdrawal from the presidential race, which has opened discussions about Harris’s potential policies towards the crypto sector. Some industry stakeholders view Harris as more open-minded about the industry compared to Biden, who had taken a more conservative approach.
Kamala Harris’s outreach efforts are part of a broader strategy to reposition the Democratic Party’s stance on digital assets. Talks about Harris being pro-crypto first emerged when David Bailey, Bitcoin Magazine CEO, confirmed that her team was considering speaking at the Bitcoin Conference 2024. Although Harris did not attend, this move was seen as a positive indication of her stance towards the industry.
Multiple reports have shown Harris’s openness to the industry, with notable figures like Mark Cuban and former White House Director of Communications Anthony Scaramucci mentioning that her advisors have contacted them about crypto. This engagement suggests Harris might sideline anti-crypto figures such as Senator Elizabeth Warren and SEC Chair Gary Gensler if elected.
A recent poll shows Harris leading Trump by a marginal two-percentage-point lead, with Harris at 44% and Trump at 42%. This slight edge is crucial in a closely contested race and highlights the dynamic nature of the election.
Explanation
- Kamala Harris’s presidential odds have increased significantly due to her team’s strategic outreach to the crypto industry.
- Her potential pro-crypto stance contrasts with the perceived hostility of the Biden administration towards digital assets.
- Harris’s engagement with key crypto companies and industry stakeholders suggests a more favorable approach to the sector.
- The Democratic Party is urged to adopt a forward-looking approach to digital assets to attract support from the crypto community.
- Harris’s slight lead over Trump in recent polls underscores the importance of the crypto industry’s support in the upcoming election.
