Kamala Harris Secures Democratic Nomination—A New Hope for Crypto Industry?

Kamala Harris secures the Democratic nomination with solid endorsements, while her potential crypto-friendly stance sparks interest in the industry.
Crypto, Voice of Crypto
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Key Insights

  • Kamala Harris has secured the Democratic Party's votes for the November presidential election with the support of 3,107 delegates.

  • Huge political figures, such as Bill and Hillary Clinton, House Speaker Nancy Pelosi, and President Joe Biden, have endorsed Harris.

  • Harris's stance on crypto is still unclear, but investor Mark Cuban suggests she could be more open to the crypto industry than President Biden.

  • Harris's campaign team is actively seeking input on crypto policies.

  • Harris's campaign demonstrated impressive fundraising abilities, raising $100 million in 48 hours after Biden's endorsement.

As it stands, the current US vice president, Kamala Harris, is now the official Democratic Party nominee for the upcoming November elections.

This means that instead of a Biden-Trump narrative, we might be having a Harris-Trump one.

Harris, according to the latest poll, has managed to secure the support of 3,107 democratic party delegates, which now puts her in a strong position to challenge Trump.

However, one of the biggest issues still remains: What is the Democratic Party's candidate's stance on crypto, and will it matter in the long run?

US Elections: Harris Now Has Most of the Support

According to the aforementioned poll, Harris now has the support of thousands of delegates, who are now expected to announce the final nominee by 7 August, before the Democratic Party’s National Convention.

Thousands of delegates behind Harris

Thousands of delegates behind Harris

Harris has also received support from several prominent figures within the party, including Bill and Hillary Clinton, House Speaker Nancy Pelosi, and current President Joe Biden, who have publicly supported Harris.

Harris also took to Twitter to mention that she was "honoured to have secured the extensive support needed to become our party's nominee" and added that she looks forward to "defeating Donald Trump."

Harris and the Crypto Question

The crypto question is still a very valid one, though.

While Harris' opponent, Donald Trump, has cleared his intention to support the crypto industry, including the miners and "end" the Biden administration’s “war on cryptocurrencies,” Kamala Harris has made no such promises.

However, according to investor Mark Cuban, Harris' presidency might be better for the crypto industry than Biden's.

According to Cuban in an interview with Politico, VP (Harris) “will be far more open to business, [AI], crypto and government as a service,”

In preparation to "defeat Donald Trump," Harris's campaign team is reportedly seeking input on crypto by contacting executives within the sector.

Aaron Levie, the Silicon Valley-based CEO of the cloud computing company Box, also added:

"If by the end of the week, she had a tech policy framework out there — a 10-point plan for pro-business, pro-tech, pro-entrepreneurship — and it was credible ... I think she could very quickly rally a significant portion of the ecosystem."

Harris Just Might Have a Chance To Win

CBS News reports that Harris's campaign team has shown impressive fundraising ability, pulling in a staggering $100 million in less than 48 hours after Biden endorsed the current nominee.

The Campaign team also reports that these donations came from around 1.1 million supporters, more than half of whom were first-time donors.

Overall, while the would-be winner of the upcoming US presidential elections isn't set in stone, the political landscape is set to affect crypto massively in the coming months as more and more political figures continue to address the crypto question.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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