As a seasoned researcher with over two decades of experience in tracking political and technological trends, I find this recent development intriguing. The endorsement of Kamala Harris by notable figures in the crypto world, such as Chris Larsen and Jeremy Stoppelman, is a clear indication of a shifting landscape in both politics and digital assets.
Approximately ninety business executives, among them Chris Larsen – the co-founder of Ripple, publicly expressed their support for Kamala Harris as the next U.S President by signing a letter.
It seems that the world of cryptocurrencies is growing more politically fragmented, as recent voices advocate for Kamala Harris’ presidency. As per a CNBC article, 88 business leaders, including Ripple co-founder Chris Larsen, have publicly endorsed Kamala Harris for president in a recently penned letter.
Among those who have signed the letter is Jeremy Stoppelman, CEO of Yelp, as well as Michael Lynton, chairman of Snap, along with others. The document argues that the most effective means to preserve the robustness, safety, and dependability of our democracy and economy is by electing Harris as president.
The endorsement aligns with the latest news that Harris’s campaign is utilizing Coinbase’s Commerce service for receiving cryptocurrency donations. This announcement was made by Alesia Haas, who is the Chief Financial Officer at Coinbase, during the Citi 2024 Global Technology, Media, and Telecommunications Conference.
It’s been verified that the political action committee (PAC) officially backing Harris, named Future Forward, has now linked up with the Coinbase platform.
Crypto leaders’ support for Harris indicates policy shift
The backing from Coinbase and their participation occur during a wider transition in cryptocurrency advocacy. Under President Joe Biden, the Democratic administration tends to take a measured approach towards cryptocurrencies, which is distinctively different from the positive outlook on crypto held by the Republican party.
The backing of Harris by key figures in cryptocurrency hints at a potential shift within this sphere. As Crypto4Harris, an advocacy group, points out, though Harris hasn’t publicly set up crypto donations on her official fundraising platform yet, her campaign’s actions might signal an increasing willingness to embrace the digital currency industry.
In a shift of position, Harris is being encouraged by the Digital Chamber – a leading blockchain trade group – to take a more forward-thinking approach towards digital assets. A letter they sent in July indicates a wider movement advocating for policy changes that capitalize on the capabilities of blockchain technology.
Approaching the 2024 election, my perspective as a researcher lies in the potential implications of the crypto community’s affiliation with candidate Harris. This alignment could herald a significant change in regulatory perspectives towards digital assets, possibly indicating a break from the previous administration’s policies, paving the way for a more accommodating regulatory environment.
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2024-09-06 17:20