Kamala Harris Seeks Crypto Reset for Democrats After Trump Goes All-In On Crypto In Watershed Bitcoin 2024 Speech

Following former US President Donald Trump’s landmark pro-crypto Bitcoin 2024 speech at the wekend, advisers to Vice President Kamala Harris have started reaching out to leading crypto companies in an effort to reset the strained relationship between the digital asset industry and the Democratic Party.

That’s according to a report by the Financial Times that says members of Harris’s team recently began contacting individuals tied to major crypto companies, including Coinbase, stablecoin issuer Circle, and Ripple Labs.

Where Kamala Harris' Potential VP Picks Stand on Bitcoin and Crypto - Decrypt

Kamala Harris Tries To Rectify The Biden Administration’s Mistakes

Current US President Joe Biden and his administration have been lambasted by crypto industry leaders for their anti-crypto stance.

Under Biden’s presidency, the Securities and Exchange Commission (SEC) has opted for a regulation by enforcement approach to regulating the burgeoning digital asset sector. Many argue that this is forcing crypto companies to establish their headquarters outside of the US.

The move by Harris’s team is reportedly part of an effort to foster a more constructive dialogue as well as establish a clear regulatory framework that will enable the growth of the Web3 industry in the US.

This is after a letter signed by Democratic members of the US House of Representatives called for the party to reconsider its stance on crypto.

Trump Promises To Make America The Global Crypto Capital If Elected

The crypto community has increased their support for Trump, who is Harris’s political rival and the Republican nominee for president.

Speaking at Bitcoin 2024 on July 27, Trump said that he would launch a strategic Bitcoin reserve, and make America the “crypto capital of the planet” if elected. 

Trump also promised to end the war on crypto, which will include firing SEC Chair Gary Gensler “on day one,” and appoint a “Bitcoin and crypto presidential advisory council.”

He told attendees the US Government will not sell any of the BTC it currently holds or any of the Bitcoin it seizes in the future if he regains the White House.

Related Articles:

  • HSBC Australia Implements Restrictions on Payments to Cryptocurrency Exchanges Due to Scam Concerns
  • Crypto Whale Snaps Up $370,000 In WienerAI Tokens As Presale Nears $9 Million With Just 2 Days Left
  • Upcoming Crypto Presales: Unlock Early Investment Opportunities!

Comments

Post a Comment

Popular posts from this blog

DeFi CEO Says ‘No One Cares’ to Deutsche Bank Entry into BTC Custody

Deutsche Bank to offer bitcoin custody solution for institutional clients. Cake Group CEO believes the move will not substantially increase capital inflow or attract new participants. Deutsche Bank’s Paul Maley projects the digital asset sector to grow to trillions of dollars. Julian Hosp, the CEO of DeFi business Cake Group, has shared a skeptical reaction to Deutsche Bank’s newly-launched bitcoin custody services for institutional clients. Responding to a post on X (Twitter) by Bitcoin Magazine announcing the bank’s new services, Hosp wrote “Sadly, no one cares”. In full, his response read, And guess what… sadly no one cares… because everyone in Germany can already buy #bitcoin either with an ETF (that has literally ZERO volume) or on an exchange. All these banks entering the space, are not bringing in extra money or people. They are just re-routing existing… https://t.co/MMZHSbGB9U — Dr. Julian Hosp (@julianhosp) September 15, 2023 T...
Read more

MATIC Price Plunges, Have the Bulls Finally Lost Control?

Image
MATIC witnessed a decline in bullish momentum and has lost hold of the $0.74 psychological support. Buying pressure was weak as the CMF hovered around the zero line. Traders might likely short/sell MATIC in the near term since the 50 EMA crossed over the 20 EMA. Polygon (MATIC) brief dip below $0.78 has turned out to be an event that has lasted a whopping five days. Over the last 24 hours, the altcoin had lost 2.32% of its value. But its last 30 days’ performance was controlled by the bulls where MATIC increased by 6.61%. Currently, the MATIC/USD 4-Hour chart shows that the altcoin was hovering around a tight support zone at $0.71. Due to decreased demand, MATIC’s buying strength has been cut off. This indicates bearish dominance around $0.72. For MATIC to regain bullish momentum, the price must rise above the $0.74 psychological level. But if selling pressure outweighs demand, then the recovery attempt could be quenched. Furthermore, bears have ...
Read more

Crypto Analyst: PEPE Will Outperform DOGE in Next Bull Cycle

Image
Miles Deutscher predicts PEPE will outperform DOGE in the next bull cycle. Deutscher noted that fewer PEPE holders are underwater compared to DOGE holders. PEPE has more multiples to reach its previous all-time high (ATH) compared to DOGE. PEPE will outperform DOGE in the next bull cycle, predicts Miles Deutscher, a renowned cryptocurrency analyst. In a Twitter post, Deutscher highlighted the reasons behind his prediction. I think $PEPE outperforms $DOGE next cycle. Why? • The Underwater Thesis: Less PEPE holders underwater vs DOGE, meaning less sell pressure on the way up + lower multiples to reach previous ATH (2.8x vs 12x). • People are more fatigued with the DOGE meme, Pepe feels fresher… — Miles Deutscher (@milesdeutscher) June 23, 2023 Deutscher’s first reason for supporting PEPE to outperform DOGE in the next cycle is what he called “The Underwater Thesis.” He noted fewer PEPE holders are “underwater” compared to DOGE holders. By that, he me...
Read more