Cryptocurrency Executives Aim to Gather $100,000 for Kamala Harris to Impact Crypto Regulations

A coalition of leaders from the cryptocurrency sector is coordinating a fundraising event to back U.S. Vice President Kamala Harris, with the goal of swaying her views on cryptocurrency if she secures the presidency in November.

The event is set for September 13 in Washington, D.C., aiming to collect $100,000, with ticket costs varying from $500 to $5,000, as reported by Reuters.

This initiative, led by the Blockchain Foundation, indicates that some members of the crypto community favor Harris over her opponent, Donald Trump, despite her relatively subdued position on cryptocurrency.

Harris Holds a Lead Over Trump in National Polls

Currently, Harris has a slim 3.2% advantage over Trump in national polling, according to FiveThirtyEight.

She has sustained this lead since September 1, when President Joe Biden declared he would not run for reelection and endorsed Harris.

#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.
Despite #Harris being relatively quiet on crypto, the industry… pic.twitter.com/NlKH5rbqxH

— TOBTC (@_TOBTC) September 2, 2024

Cleve Mesidor, the executive director of the Blockchain Foundation, remarked that the fundraiser aims to highlight the significance of cryptocurrency to Democrats, particularly as a new administration may take shape.

Mesidor pointed out that the event could facilitate discussions on how a Harris administration might bolster the crypto sector and enhance capital access, especially for marginalized communities.

The cryptocurrency industry has encountered considerable regulatory hurdles under the Biden administration, with the U.S. Securities and Exchange Commission (SEC) undertaking enforcement actions against major companies for alleged breaches of securities laws.

In reaction, notable firms like Coinbase and Ripple have invested a total of $120 million in 2024 to influence the election through super political action committees such as Fairshake, which has actively opposed Harris’ Democratic Party.

The Harris campaign has demonstrated some interaction with the crypto sector, conducting meetings with industry leaders in August and previously in July.

At the Democratic National Convention, Harris’ senior campaign adviser, Brian Nelson, indicated that Harris would endorse policies that promote the advancement of emerging technologies, including cryptocurrency.

Crypto to Gain Under Future Administration

Some leaders in the cryptocurrency industry are hopeful about the possibility of favorable crypto policies under the next administration, regardless of the election outcome.

Coinbase CEO Brian Armstrong, during an earnings call on August 1, expressed optimism that both Democratic and Republican candidates would embrace a supportive approach to crypto.

Although Harris did not participate in the Bitcoin 2024 conference in Nashville, her Democratic supporters discussed the dangers of making cryptocurrency a partisan issue.

In contrast, Trump accused Harris of being “against crypto,” citing her connections to the Biden administration as justification.

House lawmakers, led by Representative Nickel, have urged the Democratic Party to adopt a more progressive stance on digital assets.

In a letter to Democratic National Committee Chair Jaime Harrison, they contended that Harris has the chance to redefine the party’s public perception regarding digital assets.

The first presidential debate between Harris and Trump is set for September 10, which may offer additional clarity on each candidate’s position on crypto policy.

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