Vice President Kamala Harris’s campaign is actively engaging with prominent crypto enterprises, including Ripple, Coinbase, and Circle, in a strategic bid to fortify relations between the Democratic Party and the burgeoning cryptocurrency sector.

As the 2024 presidential election heats up, Harris’s advisors have reached out to these key crypto industry players, as the Financial Times reported on July 27. This move aims to counterbalance the considerable support that rival Donald Trump has garnered from the crypto community.

Kamala Harris Signals Crypto-Friendly Approach

Insiders reveal that Harris’s campaign team has scheduled meetings with leading crypto companies in the coming days. Two sources confirmed that these discussions are underway, indicating a potential shift in the Democratic Party’s stance towards the crypto industry.

This outreach comes after crypto experts warned that the Democratic Party’s anti-crypto policies could harm their electoral prospects. The Biden administration has faced significant criticism from crypto enthusiasts, who strongly prefer Trump. Additionally, prediction markets have shown a decline in Joe Biden’s odds amid the rise of pro-crypto campaigns.

However, the Harris campaign has emphasized that the goal is to convey the Democrats’ support for “responsible business” practices, highlighting a pro-business stance rather than seeking new donations. Notably, Ripple and Coinbase have made significant contributions to pro-crypto political action committees.

Bitcoin Hits $69k Ahead of Trump’s Speech

Today, Donald Trump is scheduled to attend the Bitcoin Conference in Nashville, Tennessee, to support his pro-Bitcoin campaign. Anticipation for Trump’s speech has driven the Bitcoin price past $69,000. Prominent venture capitalists Marc Andreessen, Ben Horowitz, and David Sacks, who previously supported several Democratic candidates, now back Trump. They cite dissatisfaction with the Biden administration and SEC Chair Gary Gensler’s stringent regulatory approach.

In contrast to Biden and SEC Chair Gensler’s regulatory approach to crypto, Trump’s pro-growth agenda includes advocating for the extension of expiring tax cuts, deregulation, and government support for startups, especially in the artificial intelligence and cryptocurrency sectors. Ripple Labs CEO Brad Garlinghouse has advised Vice President Kamala Harris to avoid anti-crypto politicians, suggesting that the Democrats could gain an advantage with a more crypto-friendly stance.

Considering the increasing support for Donald Trump among crypto enthusiasts, Kamala Harris’s stance on cryptocurrency could be crucial for the Democratic Party’s damage control efforts in the upcoming presidential election.

Also Read: Ethereum ETF Launch Stumbles: Bitcoin’s Shine Persists