Kamala Harris’ Advisors To ‘Reset’ Relations With The Crypto Industry; In Talks With Ripple, Coinbase
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According to a report from the Financial Times, Kamala Harris’ advisors have approached the top crypto companies in an attempt to ‘reset’ the relations between the democratic party and the crypto industry, which has strongly backed Donald Trump, her rival for the presidential elections.
Reconnecting With The Crypto Industry
The team is reportedly getting in touch with crypto companies such as Ripple, crypto exchange Coinbase, and USDC stablecoin issuer Circle. This move from the vice president came after Trump enjoyed substantial support from the sector. The former President, who once criticized crypto is snow delivering a keynote speech at a Bitcoin conference in Nashville on Saturday.
Notably, The pro-crypto Super PAC Fairshake has raised more than $200M from supporters including Coinbase, Ripple, and Andreessen Horowitz.
Harris’ business advisors stated that the decision to reconnect with the crypto industry had little to do with attracting new contributions. The objective instead was to build a constructive relationship that could set a smart regulatory framework which would in turn help the growth of the entire asset class.
Efforts to Appeal to the Tech Community and American Executives!
Harris wants to change the perception among top American executives that the Democrats were anti-business. The underlying message Harris wants to strike is that the Democrats are “pro-business, responsible business”, one person close to her campaign stated.
Harris is aiming to win back those in the tech community, many of them in her home state of California, who have turned away from the party at the threat of new taxes or regulation of their industry.
This month, venture capitalists Marc Andreessen and Ben Horowitz announced they would support Trump in the election, although they have previously supported several Democratic candidates. Their firm, Andreessen Horowitz, claims to be the largest crypto investor in the world and raised about $8 billion to invest in the sector. They blamed Joe Biden and SEC Chair Gary Gensler for nuking the industry. “They have just fought us every step of the way, and using very nefarious means,” said Horowitz.
Crypto Companies Hopeful Of Harris’ Administration
Some crypto companies are hopeful Harris will be more considerate to them. “The fact that she’s willing to listen is a big deal. With Biden, you couldn’t even get a meeting . . . It has left people with such a bad view of the Biden administration,” one crypto company executive said.
