Cryptocurrency

Kamala Harris

when

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>US Vice President Kamala Harris’s team reportedly contacted Coinbase, Circle, and Ripple Labs to improve relations with the crypto sector.</li> 
 <li>Democratic politicians urge the Democratic National Committee to select a pro-crypto SEC chair and VP nominee.</li> 
</ul> 
<p> US Vice President Kamala Harris is reportedly making efforts to mend ties with the cryptocurrency sector.</p> 
<p>This development follows her decision to decline an invitation to the Bitcoin 2024 conference and criticism of the Biden administration from the industry.</p> 
<h2 id="harris-team-s-outreach-to-crypto-companies">Harris Team’s Outreach to Crypto Companies</h2> 
<p>According to a Financial Times report, advisors to Harris have reached out to <a href="https://coineagle.com/exchange/gdax/">Coinbase</a>, Circle, and Ripple Labs in an attempt to ‘reset’ relations.</p> 
<p>This outreach comes at a time when support from the sector is growing for her competitor, Donald Trump, who has expressed a pro-crypto stance.</p> 
<p>However, some in the crypto community are skeptical of Harris’s sudden change of heart, suspecting it may be a ploy to secure campaign funding.</p> 
<h2 id="the-crypto-sector-s-political-influence">The Crypto Sector’s Political Influence</h2> 
<p>The crypto sector has become a significant source of campaign contributions, as it seeks to elect candidates who are pro-crypto.</p> 
<p>Fairshake, a pro-crypto super PAC, has raised over $200 million, slightly outpacing most traditional backers. Coinbase and a16z are among the largest donors to Fairshake.</p> 
<p>Nevertheless, some venture capitalists have recently criticized the Biden administration and SEC for their actions in the crypto space.</p> 
<p>Despite these criticisms, Harris’s advisors claim that their outreach to crypto companies is not about campaign funding, but an opportunity to improve relations with the tech industry.</p> 
<p>The Democratic party appears to be under pressure to adopt a more pro-crypto stance.</p> 
<p>Last Friday, Democratic politicians wrote to the Democratic National Committee (DNC), urging it to nominate a pro-crypto VP and SEC chair.</p> 
<p>However, as of now, the top Democratic VP nominee contenders, Josh Shapiro and Mark Kelly, do not have a strong stance on crypto.</p> 
<p>A potential shift in the Democratic party’s stance could indicate that crypto might become a bipartisan issue worth addressing regardless of the outcome of the November election.</p>

Unraveling Kamala Harris’ Pursuit to Revamp Cryptocurrency Relations

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