- Crypto executives are organizing a $100,000 fundraiser for Vice President Kamala Harris.
- The event is backed by the Blockchain Foundation and aims to open discussions on how a Harris administration could support the crypto industry
On September 13, prominent figures in the U.S. cryptocurrency industry will host a fundraiser in Washington, D.C., for Vice President Kamala Harris, the Democratic presidential nominee. As reported by Reuters, industry leaders have organized this event with the goal of raising at least $100,000. It is held concurrently with the Congressional Black Caucus and Congressional Hispanic Caucus conferences and is considered a significant event for the crypto community that has long waited for regulation.
Cleve Mesidor, the Executive Director at the Blockchain Foundation, and Tiffany Smith, Co-Chair of the Blockchain & Cryptocurrency Working Group at WilmerHale, conducts the fundraiser. These industry leaders are confident that if Harris gets elected, she will support a more relaxed approach to cryptocurrency regulation.
Fundraiser Follows SEC Crackdown on Crypto Sector
This follows the SEC under the Biden administration cracking down on the sector with the agency insisting that many crypto firms are in breach of securities laws a view that the industry has pushed back against.
Mesidor and Smith explained that Harris must learn that the crypto industry helps people, including people of color, access capital. This fundraiser could be a key moment for Harris to address these issues and possibly define her position on the regulation of cryptocurrencies.
Even while the industry continues to expand, the current Vice President of the United States, Kamala Harris, has not made her stand on cryptocurrencies clear. Although her team has held meetings with key players in the market, such as Coinbase and Ripple, her position is still unclear. This has left the crypto executives and investors on the edge of their seats, waiting for the event where Harris might discuss her stance on the issue.
Brian Nelson, a senior adviser for the Harris campaign, has hinted at a positive outlook for emerging technologies, suggesting that Harris would support their growth. However, specifics on her approach to crypto regulation remain scarce.
Potential Impact of Harris’s Position on Voter Support and Campaign Funding
If Harris decides to come out in support of crypto during the fundraiser, the party may be leaning towards supporting the industry more than before. A clear, favorable stance could potentially attract a significant number of voters from the crypto community, which has seen more explicit support from Republican candidate Donald Trump.
A supportive position could also increase the industry’s financial backing, strengthening Harris’s campaign and aligning the crypto sector more closely with her candidacy. However, if Harris remains vague on her stance, she risks alienating a growing and vocal voter bloc.
The crypto industry’s political influence has grown significantly in recent years. According to a recent report by the non-profit watchdog group Public Citizen, the sector contributed approximately $119 million to various political campaigns in 2024, outpacing traditional sectors like oil and banking.
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