Joseph Robinette Biden, the President of the United States of America, is well known for his staunch stance on cryptocurrencies. However, recently, Biden drew a target on his back after fumbling big in his debate against Trump, which caused even the Democrats to lose faith in him.
In an X post yesterday, the 46th president of the United States, Joseph Robinette Biden Jr., redacted his Presidential Nomination, forfeiting his chances of extending his term as the head of state.
— Joe Biden (@JoeBiden) July 21, 2024
Kamala’s Stance on Crypto
It is settled. Donald J. Trump has his Republican presidential nomination. On the other hand, Democrats have yet to pick a running candidate. When stepping out of his nomination, Joe Biden endorsed Kamala, saying, “Today, I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats—it’s time to come together and beat Trump.”
The crypto coalition, as one may call it, has become an important aspect of the 2024 year elections. Organizations like the Super Crypto PAC and well-known names like the Winklevoss Twins, Elon Musk, and many others have made donations to candidates who are pro-crypto or support the possibility of the positive impact of cryptocurrencies on the markets.
Advertisement
The Republican stand on crypto is clear: Trump is pro-crypto, while his VP, JD Vance, owns Bitcoin. The crypto community has lobbied and contributed to Trump’s campaign. Trump promised to make “America Great Again” and make the US the leading global crypto hub.
Will Democrats win the crypto industry on Kamala Haris’s back? As it stands, Kamala has little to say on digital currencies unlike Biden who had plenty. Reports from Capital Hill suggest that Kamala will continue what the Biden administration had begun – Crypto chokehold.
In addition, Kamala has made her reservations about AI known despite hanging around technology-versed industry elites. Since Biden’s endorsement, memecoins tied to Kamala have spiked.
Political bets on Polymaket have also spiked. ‘Presidential Election Winner 2024’ bets give Kamala a 29% chance at the presidency. Her ‘Democratic Nominee 2024’ bet stands at 81%, with Michelle Obama taking second place with 9%.
Advertisement
Also Read: Asia’s First Bitcoin Inverse ETF Set for Hong Kong Launch
