Kamala Harris campaign team is reportedly reaching out to crypto companies such as Ripple, crypto exchange Coinbase, and USDC stablecoin issuer Circle. Harris advisors approached top crypto companies in the United States to improve relations between the Democratic Party and the crypto industry.

Her rival Donald Trump has received huge donations and support from the crypto industry in the 2024 presidential election race.

Kamala Harris Teases Pro-Crypto Stance

US Vice President Kamala Harris’ advisors contacted crypto companies including cross-border payments leader Ripple, leading exchange Coinbase, and stablecoin company Circle, reported Financial Times on July 27.

Four people with knowledge of the matter said Harris’ campaign team has sought meetings with crypto companies in the upcoming days. Two sources familiar with the matter confirmed people close to these crypto companies are in talks with Harris.

The move comes after the crypto community showed strong support for Donald Trump and criticized Biden Administration. Crypto experts warned Democratic Party about a loss in the presidential election due to anti-crypto policies. Prediction markets indicated a drop in Joe Biden’s odds of winning the election amid crypto-focused campaigns.

However, Harris campaign reaffirmed that the decision to meet with crypto companies has little to do with attracting new donations. The underlying statement Harris wants to make is that the Democrats are “pro-business, responsible business”, said one person close to her campaign. Notably, Ripple and Coinbase have donated millions in pro-crypto PACs.

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Donald Trump At Bitcoin Conference

Donald Trump is attending the Bitcoin Conference in Nashville, Tennessee today to increase contributions for his pro-Bitcoin election campaign. Marc Andreessen, Ben Horowitz, and David Sacks have also endorsed Trump in the election, despite having previously supported several Democratic candidates.

They blamed Joe Biden and SEC Chair Gary Gensler for nuking the industry. “They have just fought us every step of the way, and using very nefarious means,” said Horowitz.

Trump’s pro-growth agenda includes the extension of the expiring tax cuts, deregulation, and government support for startups, especially tapping into artificial intelligence and cryptocurrency. Ripple Labs CEO Brad Garlinghouse has subtly warned Harris against anti-crypto lawmakers and politicians. Garlinghouse asserts Democrats stand a chance with their anti-crypto stance.

As CoinGape reported, BitGo CEO Mike Belshe will also be holding a fundraiser for Donald Trump’s campaign with special guest Republican vice-presidential nominee JD Vance.

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The post Breaking: Ripple, Coinbase In Talks With Kamala Harris Over Crypto Shift appeared first on CoinGape.

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Filed under: News - @ July 27, 2024 10:09 am