A fundraiser, planned on 13 September 2024 in Washington, will see key crypto figures raise $100,000 for US Vice President Kamala Harris.
The fundraiser, organized by players within the cryptocurrency industry, was designed to support Vice President Harris and her political endeavors. According to a recent Reuters report, the main intention behind the fundraiser is to pursue a softer regulatory stance on the industry.
While Harris’s position on crypto is not very clear, she has been identified as a key political figure with whom the crypto industry seeks to build a relationship. In July alone, Harris reportedly raised four times as much as Republican competitor Donald Trump.
NEW: 🇺🇸 Kamala Harris will embrace #Bitcoin and crypto industry – Vivek Ramaswamy
"I think that will be a good thing for the country…It should not be a partisan issue." 🇺🇸
— Radar🚨 (@RadarHits) August 12, 2024
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Event Will See Participation From Crypto Industry Leaders, Blockchain Enthusiasts, Political Supporters
This event is another in line of events to build better relationships between the crypto sector and political figures. Compared to the Biden administration, Harris’s progressive stance on technology and innovation makes her an attractive ally for the crypto community.
By supporting Harris, what does the crypto industry aim to gain? The industry probable hopes to gain a sympathetic ear in the White House. The crypto executives are hoping to also influence future policy decisions that could impact the growth and regulation of digital currencies.
Harris continues to maintain a slight lead over trump in the election cycle so far.
Leading up to US elections, such events continue highlighting the potential for digital currencies to play a more prominent role in political fundraising and advocacy.
The event will see a diverse group of attendees, including industry leaders, blockchain enthusiasts, and political supporters. The common goal will be to demonstrate the crypto community’s commitment to engaging with and influencing political processes.
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Nearly Half Of Corporate Donations In This US Election Cycle Comes From Crypto Sector
According to a recent report by the non-profit watchdog group Public Citizen, the industry has contributed around $119 million to various political campaigns.
In fact, crypto outpaced oil and banking in corporate spending.
Furthermore, both Trump and Harris went head to head courting the crypto vote during the Bitcoin 2024 conference back in July.
The report said that Coinbase and Ripple led the charge. The companies contributed more than 80% of the total donations. The funds were primarily directed towards super PACs supporting pro-crypto candidates.
Crypto giants like Coinbase and Ripple, have been under intense scrutiny during the Biden administration. Many company are engaged in ongoing legal battles with the US Securities and Exchange Commission (SEC).
Read More: Crypto Industry Accounts For Nearly Half Of Corporate Election Spending
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
