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Trump's unexpected turn to cryptocurrency
Harris’s cautious stance on cryptocurrencies — is that enough?
What's next?
The 2024 US presidential election has taken an unexpected turn, especially when it comes to cryptocurrencies. Donald Trump and Kamala Harris have completely different views on the topic, and it has received a lot of attention. Trump was not a fan of cryptocurrencies before, and now he is all in on it. Harris, on the other hand, seems to be more cautious and focused on regulation rather than full-scale cryptocurrency support.
Trump's unexpected turn to cryptocurrency
So, Trump hasn’t always liked crypto, right? In fact, he used to be skeptical about it. But that changed this year. Now, he’s accepting crypto donations for his campaign and even launched his own DeFi platform called World Liberty Financial (WLF). He’s also made it clear that he’s not a fan of SEC Chairman Gary Gensler and plans to fire him if he wins. To show how serious he is, Trump has appeared at Bitcoin conferences and even conducted Bitcoin transactions at a bar in New York. But the problem is that his platform, WLF, has only raised $12.9 million so far, far short of its $300 million goal. People wonder if his family will profit too much from it, since they’ll be pocketing 75% of the proceeds.
According to Polymarket, he has a better chance of winning the US election. He has a 59.8% chance of winning, while Kamala lags behind with 40%. The main reason for this shift is Trump's support for cryptocurrencies.
Harris’s cautious stance on cryptocurrencies — is that enough?
Kamala Harris, on the other hand, was more careful. She didn’t make cryptocurrencies a big part of her campaign but talked about protecting people, especially Black Americans, who invest in digital assets. Her “Opportunity Agenda” for the US election aims to regulate cryptocurrencies and reduce risks like fraud. However, Harris didn’t connect with the crypto community as much as she had hoped. The virtual town hall meetings she hosted didn’t go over too well, and some high-profile people, like Tyler Winklevoss, weren’t impressed. Still, she received support from Ripple’s Chris Larsen, who donated $1 million in XRP to her campaign. This shows that some in the crypto world believe in her cautious approach.
What's next?
As the election approaches, voters are watching these two very different cryptocurrency strategies. Trump makes big promises, while Harris offers more protection. With Bitcoin approaching $70,000, it's clear that cryptocurrencies are playing a huge role in this election. Trump may be leading in the polls now, but anything could change before Election Day.
