- Trump is more in favor of cryptocurrencies than Kamala Harris.
- Major crypto figures such as Cathie Wood and the Winklevoss twins supported Trump for president.
As the US presidential elections approach, the race between former President Donald Trump and Vice President Kamala Harris is becoming increasingly tight.
However, when it comes to the cryptocurrency sector, Trump appears to have a significant advantage.
While the Crypto4Harris campaign has worked hard to broaden Harris’ appeal within the crypto community, the vice president has yet to show clear support for the industry.
Harris’ policy makes no mention of crypto
In her recent policy announcementscryptocurrency remains noticeably absent, leading many to question its stance on the fast-growing sector.
The founder of Thinking Crypto podcast says about the same TonyEdward went to X and noted:
“I think it’s safe to say that Kamala Harris and her campaign have dropped the ball when it comes to crypto. Donald Trump has the clear advantage.”
Senator Schumer’s change of position
Fox Business journalist Eleanor Terret also reported that Senator Chuck Schumer had gone back on his earlier promise to make US crypto legislation a reality by the end of the year.
For context, during the Crypto4Harris Town Hall, Democratic Senator Chuck Schumer emphasized the need for clear regulation in the crypto industry, calling for greater transparency and oversight.
“We cannot afford to sit on the sidelines as we risk crypto going abroad to lowest common denominator countries where there will be no regulation at all.”
Journalist Terret expressed her feelings on the matter, stating:
Source: Eleanor Terrett/X
Adding to the fray was Dagnum PI who said,
“This should surprise absolutely no one. If this government really wanted to pass crypto legislation, they would have done it already.”
Trump wins against crypto supporters
On the other hand, Trump’s outspoken stance on cryptocurrency since the start of this election campaign has been uncanny.
Once a crypto critic, Trump has now created a “World Liberty Financial” initiative, which has gained significant traction among crypto voters as the election approaches.
This new enthusiasm, coupled with several other crypto-focused efforts, underscores Trump’s evolving position on digital currencies.
This surge in support has also pushed Trump to the top of the Polymarket forecast charts, where he is in the lead with 52% of the vote, while Harris trails slightly behind with 47%.
Source: Polymarkt
Trump has also managed to gain notable support from key figures in the crypto industry, including ARK Invest CEO Cathie Wood, the Winklevoss twins, and many others.
Harris is not alone
Despite Trump’s growing support in the crypto community, Kamala Harris is not without backers.
On September 6, CNBC reports this that Chris Larsen, co-founder and executive chairman of Ripple, publicly endorsed Harris for president. Larsen signed a letter of approval along with 88 other business leaders in the US.
Other notable signatories include Box CEO Aaron Levie, Yelp CEO Jeremy Stoppelman, Snap Chairman Michael Lynton and former 21st Century Fox CEO James Murdoch.
So as the elections get closer, it will be interesting to see if crypto has a greater effect on political outcomes, or if these outcomes ultimately determine the future of crypto.
