Crypto4Harris: Enthusiasts Launch Campaign to Support Kamala Harris
The position of Vice President Kamala Harris on cryptocurrencies is relatively unknown, but organizers of a new group called Crypto4Harris are moving forward with an initiative to gather supporters who hold digital assets around the Democratic Party’s presidential candidate in 2024.
The grassroots network of cryptocurrency advocates is planning to host a virtual assembly event on Zoom next week. Participants will have the opportunity to engage with industry leaders, policy experts, and cryptocurrency enthusiasts who support Harris’ bid for the White House, according to the event description.
With less than 90 days before the divisive U.S. election in November, the mobilization of cryptocurrency fans follows President Joe Biden’s decision not to seek re-election last month. Meanwhile, former President Donald Trump has made repeated statements in support of cryptocurrencies during his campaign.
The Crypto4Harris account on X said that billionaire Mark Cuban is among the “heavyweights” scheduled to participate. Previously, the investor and notorious Bitcoin fan told Decrypt that several people from Harris’ group had reached out to him with questions about cryptocurrencies, which he described as “a good sign.”
In recent years, the Biden administration has taken a tough stance on cryptocurrencies, including proposing a tax on Bitcoin miners, vetoing a pro-crypto resolution in May, and conducting enforcement actions under Securities and Exchange Commission Chairman Gary Gensler.
Trump capitalized on what some cryptocurrency advocates describe as a total regulatory war. For example, the former president was met with thunderous applause in Nashville when he told Bitcoin enthusiasts that he would “fire Gary Gensler” if re-elected, ending an “anti-crypto crusade.”
It is still unknown whether Harris’ team will change its stance on cryptocurrencies. However, Harris recently recruited David Plouffe as a senior advisor. Plouffe was the campaign manager for former President Barack Obama’s successful White House bid in 2008 and previously served on the global advisory board of the cryptocurrency exchange Binance.
“Much hostility”
The main organizers of Crypto4Harris are volunteers who have full-time jobs in the cryptocurrency industry. In an interview with Decrypt, they said they want to show people that cryptocurrencies are not a partisan issue and that a Harris administration would not be a continuation of the Biden administration.
“This is a person who understands Silicon Valley,” said Jonathan Padilla, CEO of the cryptocurrency data analytics platform Snickerdoodle Labs, about Harris. “This is a person who understands that innovation and entrepreneurship are super, super critical to America.”
William Schweitzer, who runs his own consulting firm, said he is a Democratic strategist interested in sending a cryptocurrency-based message of support to Harris’ campaign. Pointing to a coalition of “progressively inclined people” who have publicly supported the technology, Schweitzer said Crypto4Harris is creating a platform to showcase this message.
“If you look through the Crypto Twitter sphere, you’ll find a lot of hostility […] towards the current administration,” he said. “This is about taking a step forward.”
The organizers said they are welcoming anyone from the crypto space to join what is described as an “organic coalition” and that they only represent their current incarnation from a leadership perspective.
“Political football”
Rep. Wiley Nickel (D-NC) said on Twitter that he is looking forward to speaking at the assembly, which had 300 registrants at the time of writing. Last week, Nickel told Decrypt that there are signs that Harris would take a “balanced approach” to cryptocurrencies as commander-in-chief.
“As Democrats and supporters of [Kamala Harris], we want to encourage innovation and protect consumers,” Nickel wrote on Twitter on Wednesday (7). “Turning cryptocurrencies into a political football will only leave the U.S. further behind.”
Nickel did not immediately respond to a request for comment from Decrypt.
Justin Slaughter, policy director at investment firm Paradigm, encouraged people to participate in the assembly, even if they do not support Harris. On Twitter, he said the event is likely to provide insights into “what the ongoing redefinition in crypto and technology by the Harris campaign means.”
The announcement of the event received notable online resistance. One Twitter user likened it to lobsters organizing an event for boiling water, while others pointed to the lack of specific policy statements or the relatively small digital footprint of the Crypto4Harris account.
“Are you happy to see an effort from an account with 900 followers and no specifics?” asked Matthew Sigel, head of digital assets at VanEck, on Twitter. “It’s pathetic.”
Sigel’s question was in response to a post on Twitter by Sheila Warren, CEO of the Crypto Council for Innovation, an industry alliance involved in cryptocurrency policies. Warren had commented that “crypto is the last big tent” and that Crypto4Harris’ outreach is in the spirit of inclusivity of cryptocurrencies “no matter what some parts of the community tell you.”
“The data shows that crypto wallet holders span all demographics and geographies,” Warren wrote in a subsequent post. “And the goal should be to engage anyone who is willing to be open and seek education, regardless of political affiliation.”
*Translated with permission from Decrypt.
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