Report: Crypto Executives Plan $100K Fundraiser for Harris

As a seasoned analyst with over two decades of experience in the financial sector and a keen interest in emerging technologies, I find this development intriguing. The cryptocurrency industry’s strategic move to support Vice President Kamala Harris in her bid for presidency is a clear indication of their growing influence and maturity as an industry.


Key figures in the cryptocurrency sector and associated groups are planning a fundraising effort of $100,000 targeted at U.S. Vice President Kamala Harris. The intention is to affect her future views on digital currency regulations should she ascend to the presidency. On September 13th, in Washington D.C., this fundraiser is being orchestrated by the Blockchain Foundation, a well-known industry advocacy body. As per Reuters’ report, tickets for attendance at the event cost between $500 and $5,000.

Harris vs. Trump: A Strategic Industry Bet

This fundraising initiative signifies a tactical choice made by certain key figures within the crypto world, backing Harris over Trump. Although Harris’s stance on cryptocurrency might appear less vocal than Trump’s in public, there are individuals within the industry who anticipate that her potential presidency could be more advantageous for their interests.

According to data from a September 1 poll, Vice President Harris currently leads former President Trump by 3.2 percentage points. This advantage has persisted since President Biden endorsed her following his withdrawal from the race, as per FiveThirtyEight’s report.

Industry Concerns and Political Actions

Cleve Mesidor, Head of the Blockchain Foundation, shared that the fundraiser aims to underscore the crypto industry’s importance to Democrats and initiate talks about how a possible Harris administration could foster this sector more effectively. Furthermore, Mesidor is optimistic that the event will stimulate conversations on expanding financial opportunities for underrepresented groups within the crypto space.

In my role as a researcher, I find myself reflecting on a significant shift that’s taking place within the cryptocurrency landscape. This change is happening amidst growing apprehensions about the current regulatory environment. Under the leadership of the Biden administration, the United States Securities and Exchange Commission (SEC) has stepped up its enforcement activities against prominent crypto entities like Coinbase and Ripple. The SEC alleges that these companies have breached securities laws.

In reply, notable figures within the cryptocurrency sector collectively poured around $120 million into Political Action Committees such as Fairshake during the year 2024. This committee, known for its criticism towards Harris’s Democratic Party, has been a significant recipient of these investments.

Campaign Engagement and Future Prospects

Over the past few months, the Harris campaign has been actively interacting with the crypto sector. After a meeting in July for a roundtable discussion, they gathered with crypto leaders once more in August to discuss industry issues and regulatory hurdles. Brian Nelson, one of Harris’ senior advisors, has hinted that if elected, Harris would advocate for policies that encourage the development of new technologies, such as cryptocurrency.

1. The upcoming fundraiser is an aspect of a larger effort led by organizations like Crypto4Harris, who have previously backed Harris’s campaign. For instance, Crypto4Harris arranged a virtual town hall meeting in August that included Democratic legislators, boosting Harris’s political aspirations and discussing crypto-related matters.

Despite these measures being viewed as progress towards a possibly friendlier regulatory landscape for cryptocurrencies, some experts within the field express reservation. The impact of these actions on shaping Harris’s future policies is unclear. As the election nears, the industry will be keenly observing to determine if a potential presidency from Harris could bring more advantageous regulations or if existing hurdles will continue to exist.

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2024-09-02 13:03