Harris currently holds a narrow 3.2% lead over Trump in national polls.
In an effort to influence U.S. Vice President Kamala Harris’s position on cryptocurrencies should she win the presidential election in November, a group of prominent figures in the cryptocurrency industry are putting together a fundraiser in her honor.
According to a Reuters report, the fundraiser aims to raise $100,000 and is set for September 13 in Washington, D.C. Ticket prices range from $500 to $5,000.
Notwithstanding her comparatively stolid stance on cryptocurrencies, the Blockchain Foundation-led campaign demonstrates that some members of the crypto community favor Harris over her opponent, Donald Trump.
Harris Leads Trump in National Polls
According to FiveThirtyEight, Harris leads Trump by just 3.2% in national polls right now.
Since President Joe Biden declared on September 1 that he would not run for reelection and endorsed Harris, she has been able to hold the lead.
#Crypto executives are planning to raise $100,000 for U.S. Vice President Kamala Harris at a September 13 fundraiser in Washington, aiming to sway her toward a more relaxed stance on crypto if she becomes president.
— TOBTC (@_TOBTC) September 2, 2024
Despite #Harris being relatively quiet on crypto, the industry… pic.twitter.com/NlKH5rbqxH
The Blockchain Foundation’s executive director, Cleve Mesidor, said that the purpose of the fundraiser is to convey to Democrats the significance of cryptocurrencies, particularly in light of the possibility of a new administration taking office.
Mesidor stressed that the occasion might start discussions about how a Harris administration could help the cryptocurrency industry and increase capital access, especially for people of color.
Under the Biden administration, the cryptocurrency industry has encountered numerous regulatory obstacles, as the U.S. Securities and Exchange Commission (SEC) has pursued enforcement actions against prominent companies for purported breaches of securities laws.
As a result, well-known businesses like Coinbase and Ripple have invested a total of $120 million in 2024 to sway the outcome of the election via super political action committees like Fairshake, which has been vehemently opposed by Harris’ Democratic Party.
The Harris campaign met with executives from the cryptocurrency business in July and August, demonstrating some level of involvement with the sector.
At the Democratic National Convention, Harris’ senior campaign adviser, Brian Nelson, indicated that Harris would support policies fostering the growth of emerging technologies, including cryptocurrency.
Crypto to Benefit Under Next Administration
Regardless of the winner, some prominent figures in the cryptocurrency space are upbeat about the possibility of beneficial crypto policies under the incoming administration.
In an Aug. 1 earnings call, Coinbase CEO Brian Armstrong expressed optimism that both the Republican and Democratic candidates would take a pro-crypto position.
Despite not being present at the Bitcoin 2024 conference in Nashville, Harris’s Democratic backers discussed the dangers of turning cryptocurrency into a political football.
Trump, on the other hand, claimed that Harris was “against crypto,” using her affiliation with the Biden administration as support.
The Democratic Party has been pushed by House lawmakers, under the leadership of Representative Nickel, to adopt a more progressive stance on digital assets.
They contended that Harris possesses the chance to transform the party’s public perception with regard to digital assets in a letter to Jaime Harrison, the chair of the Democratic National Committee.
On September 10, Harris and Trump will square off in their first presidential debate, which could provide more light on their respective positions on cryptocurrency regulation.