Cryptocurrency industry leaders are organizing a fundraiser to support U.S. Vice President Kamala Harris, with the goal of influencing her stance on cryptocurrency should she win the presidential election in November. The fundraiser is set to take place on September 13 in Washington, D.C., and aims to raise $100,000, with ticket prices ranging from $500 to $5,000. This initiative, led by the Blockchain Foundation, highlights some in the crypto community’s support for Harris over her rival, Donald Trump, despite her relatively quiet position on cryptocurrency.
As of now, Harris holds a narrow lead of 3.2% over Trump in national polls, following President Joe Biden’s announcement that he will not seek reelection and has endorsed Harris. The fundraiser organized by the Blockchain Foundation is meant to emphasize the importance of cryptocurrency to Democrats, especially as a potential new administration comes into power. The event aims to foster discussions on how a Harris administration could support the crypto sector and improve access to capital, particularly for marginalized communities.
The crypto industry has faced regulatory challenges under the Biden administration, with the U.S. Securities and Exchange Commission (SEC) taking enforcement actions against major firms for alleged securities law violations. In response, companies like Coinbase and Ripple have spent $120 million in 2024 to influence the election through super political action committees like Fairshake, which has opposed Harris’s Democratic Party. Despite this, the Harris campaign has engaged with the crypto industry, meeting with industry executives in August and indicating support for policies promoting the growth of emerging technologies at the Democratic National Convention.
Some crypto industry leaders are optimistic about the potential for favorable crypto policies under the next administration, regardless of the election outcome. Coinbase CEO Brian Armstrong expressed hope for positive stances on crypto from both Democratic and Republican candidates. While Harris did not attend the Bitcoin 2024 conference in Nashville, her Democratic supporters have emphasized the risks of making crypto a partisan issue. In contrast, Trump has accused Harris of being “against crypto,” citing her ties to the Biden administration.
In a letter to Democratic National Committee Chair Jaime Harrison, House lawmakers, led by Representative Nickel, have urged the Democratic Party to adopt a more forward-looking approach to digital assets. They argued that Harris has the opportunity to reshape the party’s public image regarding digital assets. The first presidential debate between Harris and Trump is scheduled for September 10, which may provide further insights into each candidate’s stance on crypto policy. Overall, the crypto industry is actively engaging with political leaders to shape the regulatory landscape for digital assets in the United States.
