Crypto Industry’s Political Play: A Win for Crypto, Regardless of the Winner?
The crypto industry has made a significant move in the political arena, pouring millions of dollars into the 2024 US election. This strategy appears to have paid off, with both Vice President Kamala Harris and former President Donald Trump showcasing pro-crypto stances in their campaigns.
While neither candidate has explicitly detailed their crypto policies, both are clearly trying to appeal to the growing crypto community and its influence.
Harris, in a surprising move, highlighted blockchain technology as crucial for maintaining US tech dominance. This strategy aims to attract young male voters and potentially sway Wall Street, which is increasingly invested in crypto assets.
Trump, on the other hand, has adopted a more direct approach by launching a DeFi project with his sons called World Liberty Financial. This move has been criticized as self-serving, but it nonetheless demonstrates his willingness to embrace the crypto space.
While the exact details of their crypto policies remain unclear, one thing is certain: the US will have a crypto-friendly president in 2025, regardless of who wins the election.
This shift is a significant victory for the crypto industry, which has previously faced skepticism from the Biden administration. The industry now stands poised to benefit from bipartisan legislation and a more supportive political environment.
While crypto’s political spending is a topic of much discussion, it remains to be seen what actual impact it will have on policy. The industry has already made a strong play, but the real test will be in the implementation of policies once a new president is in office.
