The post CoinShares predicts crypto gains under Trump, losses under Harris appeared on BitcoinEthereumNews.com.

CoinShares, a digital asset manager, believes a Kamala Harris presidency might be less favorable for the crypto industry than that of Donald Trump. In a post by a CoinsShares analyst, Max Shannon, Harris’s past affiliations suggest caution on how her administration will deal with the industry. The post, which analyzed the potential impacts of the leading presidential candidates, comes amidst the recent turnaround in sentiments about Trump’s chances in the election. After enjoying as high as 72% odds of winning the election against President Biden on Polymarket, Trump’s odds have now fallen to 45% on the predictions platform, with Harris at 54%. Harris’s past affiliations suggest caution According to the post, predicting Harris’s Presidency’s impact on crypto is difficult, but her past affiliations suggest caution. The post noted that the vice president, being part of the incumbent government, could decide to stick to the same anti-crypto approach. Skepticism about Harris stems from her unclear stance on the industry. Although pro-crypto candidates within the Democratic Party have said she is open to innovation and supporting businesses. However, the vice president has not publicly indicated her alliances. This means most crypto voters can only judge her in light of this current administration. CoinShares analyst Mark Shannon wrote: “Although Harris’s position on crypto is unclear, her past affiliations suggest a cautious approach, potentially making her presidency less favourable to digital assets than a Trump presidency.” However, CoinShares noted that Harris can choose to adopt a balanced approach to the industry, which will be the best alternative to the Biden administration’s anti-crypto stance. “She can take that chance now that crypto is an election issue, especially in swing states. If Harris’s administration adopts a crypto-friendly stance, she will have a lot of support even within her party,” CoinShares added. A group of Democrats in…

---

Filed under: News - @ August 15, 2024 6:22 pm