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Memecoin Kamala Horris (KAMA) has seen its first notable rise in over a month, rising 7% in the past 24 hours, in response to comments from the US Vice President Kamala Harriswho promised to support the growth of the crypto space if elected.
Harris promises support for crypto and AI
Speak To donors at a fundraiser in New York City on Sunday, Harris outlined her economic agenda, which aims to promote innovation in the artificial intelligence (AI) and digital assets sectors while ensuring consumer protections, according to Bloomberg. At the Cipriani Wall Street event, Harris stated:
I will bring together employees, founders and innovators from small businesses and large corporations. We will work together to invest in America’s competitiveness and future. We will encourage innovative technologies such as AI and digital assets, while protecting our consumers and investors.
Interestingly, this is Harris’ first public comment on crypto as a Democratic presidential candidate, raising expectations among investors and enthusiasts about her. position on digital assets compared to President Joe Biden’s administration.
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The cryptocurrency sector is becoming increasingly influential in the world 2024 presidential electionespecially as industry executives and investors express frustration over what they see as burdensome regulations under Biden.
Harris’ campaign has signaled a desire to support the growth of digital assets while advocating for necessary safeguards, especially in light of recent “high-profile failures” in the crypto market.
In contrast, former President Donald Trump, Harris’ Republican opponent, has actively courted the crypto industry. promising to replace Gary Gensler, chairman of the Securities and Exchange Commission (SEC), and create a stablecoin framework.
Harris outraises Trump in fundraising in August
According to the report, Harris’ fundraiser was a major event aimed at strengthening her “financial advantage” in the race against former President Trump. Tickets for the event ranged from $500 to nearly $1 million, giving top donors exclusive access to meet Harris and attend additional events.
Harris’ campaign has produced impressive fundraising numbers, raising $361 million in August alone and contributing $404 million in campaign funds as of early September.
This financial support exceeds the $130 million raised by Trump and the Republican National Committee during the same period, giving Harris and the Democrats a significant cash benefit of $109 million.
KAMA rises amid growing optimism over Harris’ presidential bid
Kamala Harris’ recent statements have boosted her fundraising numbers and led to gains for the memecoin KAMA, which has risen for the first time in more than a month. KAMA is currently trading at $0.0052 and has posted a 7.2% gain, recovering from a dip to $0.0500 earlier this month amid a broader market reject.
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Despite this recent surge, KAMA remains nearly 87% lower than its all-time high of $0.039 reached on July 24, according to CoinGecko. facts.
It remains to be seen whether further announcements and statements from support for the digital asset industry could lead to further gains for the token in the coming days, with less than two months until the presidential election.
Featured image of DALL-E, chart from TradingView.com
