The 2024 U.S. presidential race is heating up, with an unexpected twist in the crypto community’s allegiances. Vice President Kamala Harris is challenging former President Donald Trump’s once-solid lead and attracting support from key players in the digital asset space with her changing stance on crypto.
From Trump to Harris: Crypto’s Shifting Political Landscape
Just three weeks ago, Trump’s path to the White House seemed almost certain, bolstered by his crypto-friendly policy promises. However, recent developments have shaken up the political landscape, with Harris not only pulling ahead in polls but also garnering backing from industry heavyweights.
The community’s support for Harris is growing. Mark Cuban, the billionaire entrepreneur, has backed her campaign. Anthony Scaramucci, founder of SkyBridge Capital and a former Trump Administration official, has also switched sides.
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A new organization, Crypto4Harris, has emerged, describing itself as a grassroots network of blockchain advocates. With 50 members and counting, the group is organizing digital town halls and pushing for nuanced policies that could position America as a leader in digital assets.
Prediction markets are reflecting this shift. On Polymarket, Harris now has a 49.2% chance of beating Trump, who stands at 49%. Similarly, UK betting exchange Betfair puts Harris slightly ahead at 49.5% to Trump’s 48%.
This shift is particularly notable given that while President Biden was seen as predominantly anti-crypto, Harris’s stance on the industry remains unclear. This ambiguity seems to be working in her favor, as blockchain entrepreneurs and investors hope for a more balanced approach to regulation.
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