Kamala Harris’s Campaign Boosts Her Presidential Odds to 39%

In recent developments, Kamala Harris’s presidential campaign has made significant inroads into the cryptocurrency industry. By engaging with key crypto firms and gaining support from influential figures, Harris’s odds of winning the upcoming presidential election have notably increased.

Key points:

• Harris’s team has reached out to key crypto firms like Circle, Coinbase, and Ripple.
• Market analysts note a 5% increase in her presidential odds on Polymarket.
• Harris is seen as more open-minded about crypto compared to Biden.
• Influential figures like Anthony Scaramucci support her pro-crypto stance.

Outreach to Crypto Companies Strengthens Harris’s Position

Kamala Harris, the Vice President of the United States, is actively solidifying her stance within the cryptocurrency industry. Her team has reached out to key players such as Circle, Coinbase, and Ripple, which has increased her chances of winning the presidential race to 39%, according to Polymarket. Market analysts note that these strategic moves have bolstered her standing within the deeply polarized crypto industry.

Some companies, like Ripple Labs and Coinbase, have already made significant donations to her campaign. For instance, Stuart Alderoty, General Counsel of Ripple Labs, donated $300,000 in XRP tokens to Donald Trump’s campaign in June.

Signs of a Pro-Crypto Policy

Since Joe Biden withdrew from the presidential race, rumors about Kamala Harris’s pro-crypto stance have been gaining traction. Despite her being part of the Biden administration, many in the crypto community highlight her open position towards cryptocurrencies. For example, David Bailey, CEO of Bitcoin Magazine, confirmed that her team considered speaking at the Bitcoin Conference 2024.

Recent interviews with influential figures like Mark Cuban and Anthony Scaramucci affirm her support for the crypto industry. Scaramucci, the former White House Communications Director, stated that Harris would sideline anti-crypto advocates like Senator Elizabeth Warren and SEC Chair Gary Gensler.

Intra-Party Debates and Support

Within the Democratic Party, there is increasing pressure to adopt a pro-crypto stance. An open letter signed by lawmakers and congressional candidates urges the party’s national committee to take a “forward-looking approach” to digital assets and replace the SEC Chair with a pro-crypto candidate. They also call on Harris to choose a vice president with pro-crypto views.

Potential Policy Changes

Discussing Kamala Harris’s policies, Anthony Scaramucci noted that her administration would be more open to cryptocurrencies. He emphasized that Harris is more open-minded than Biden and will seek to remove anti-crypto advocates like Warren and Gensler.

Scaramucci also urged the crypto community to give Harris a chance, reminding them that even Trump called Bitcoin a “scam” as recently as 2022. He added that Harris’s consideration of speaking at the Bitcoin Conference demonstrates her openness to the industry.

Call for Bipartisanship

Scaramucci pointed out that the cryptocurrency industry needs a bipartisan approach. Vitalik Buterin, co-founder of Ethereum, echoed this sentiment in a recent essay, emphasizing that it is not enough to support a candidate just because they claim to be pro-crypto.

Ripple Labs CEO Brad Garlinghouse also called for an open mind, stating that Harris provides an opportunity for a reset on critical issues like crypto regulation. However, he warned that if she adopts Warren’s rhetoric and retains Gensler, her policies might not differ from Biden’s.

Conclusion

Despite growing interest in Kamala Harris’s plans for crypto, most of the crypto community still views Donald Trump as the best choice. According to Polymarket, Trump’s odds of winning are 63% compared to Harris’s 32%. However, Harris is heavily favored to win the popular vote.

Thus, Kamala Harris’s campaign and her outreach to the crypto industry could significantly impact the outcome of the presidential race, sparking a new wave of interest and debates in both political and cryptocurrency spheres.

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