As the 2024 presidential election looms, the cryptocurrency community finds itself at a crossroads, with influential figures weighing in on their preferred candidates. Former President Donald Trump, once a skeptic of digital assets, has quickly garnered significant support from the crypto industry. Meanwhile, a surprising new player is emerging on the scene: Vice President Kamala Harris.
J.P. Thieriot, former CEO of the crypto platform Uphold, is spearheading an effort to rally crypto support for Harris. Thieriot argues that Trump’s recent embrace of the crypto sector is more about vague promises than meaningful commitments. In contrast, Harris, according to Thieriot, presents a unique opportunity to shape a more defined and supportive stance toward the industry.
In a recent interview, Thieriot expressed confidence that Harris is open to engaging with the crypto community. “Of course, she’s going to have to do some stuff to gain trust, but she has signaled she’d like a chance,” he said. Thieriot, who remains invested in Uphold and is involved in a new crypto trading operation, believes it would be a missed opportunity not to engage with Harris’s campaign.
Thieriot, along with a group of unnamed crypto lawyers, recently shared a strategy paper with Harris’s team. The document, reviewed by CoinDesk, positions cryptocurrency as a key issue in the upcoming election, especially in swing states. The paper criticizes Trump for offering “vague platitudes” without substantial policy commitments and suggests that Harris could capture significant support—and campaign donations—from the industry if she plays her cards right.
One proposed strategy is to host a crypto-focused fundraiser in San Francisco, positioning Harris as a candidate open to industry concerns. The paper also hints at the potential for high-profile endorsements from crypto figures, potentially bringing in tens of millions in donations.
Despite the current administration’s appointment of Gary Gensler as Chair of the Securities and Exchange Commission (SEC) and his strict oversight of the crypto sector, Thieriot believes Harris could chart a different course. He suggests that Harris might support clear regulatory frameworks and consider appointing a more industry-friendly SEC chief.
Thieriot is not alone in his support for Harris. Tonya Evans, a well-known crypto law professor and board member of the Digital Currency Group, also sees potential in Harris’s candidacy. Evans is part of a decentralized finance leaders group backing Harris, with plans for an organizational meeting later this week.
As the election draws nearer, the crypto industry’s divided loyalties between Trump and Harris could play a significant role in shaping the future of digital assets in the United States. With both candidates nearly even in national polls, the question remains: which one will ultimately win over the crypto vote?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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