Harris's first public crypto endorsement marks a strategic pivot in her presidential campaign.
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Key Takeaways
- Kamala Harris publicly supports AI and crypto for the first time in her campaign.
- Harris plans to create a stable business environment with clear regulations.
Kamala Harris promised on Sunday that her White House would be committed to fostering the growth of digital assets and artificial intelligence (AI) if she is elected as the next US president.
“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors,” said Harris, speaking at a Wall Street fundraiser in Manhattan on Sunday, which was first reported by Bloomberg.
After taking the torch from President Joe Biden, the Vice President remained silent on Bitcoin and crypto assets, which have grown important in the 2024 US presidential election.
But several reports point out that behind the scenes, her campaign appears to be engaging with industry leaders to rebuild the relationship between the Democratic Party and the crypto sector.
The latest remarks were Harris’ first public endorsement of the sector as the Democratic frontrunner. These also set her apart from current policies under President Joe Biden, perceived by some, if not many, as anti-crypto.
Harris added during the event that her administration’s approach would be to establish a stable business environment with clear regulations, promoting sectors like semiconductors and clean energy while reducing bureaucracy.
Her promise to encourage digital asset growth suggests a more welcoming approach to crypto compared to the current administration and has received positive comments from many industry members.
While Harris has not yet articulated a comprehensive policy, her acknowledgment of the importance of digital assets sends “a clear message that the Biden/Warren era of destruction is over,” said Coinbase policy chief Faryar Shirzad.
“Kamala Harris signals a very significant reset on crypto and blockchain technology,” said Rep. Wiley Nickel (D-N.C.). “This new policy position puts her in line with #FIT21 House and Senate Democrats working to protect consumers and keep digital innovation in the United States.”
“Kamala means bitcoin in every language,” said Anthony Scaramucci, CEO of SkyBridge Capital.
Hayden Adams, CEO of Uniswap Labs, called Harris’ statement a positive sign.
“Kamala just said she will encourage innovative technologies like DIGITAL ASSETS. I believe this is her first time referencing crypto publicly and it’s in a positive way,” Adams said.
Harris’ statements offered her a chance to counter Donald Trump, who has positioned himself as a vocal advocate for the crypto industry.
Harris has taken the lead in four of the six critical swing states, according to recent data from Polymarket. These states include Wisconsin, Pennsylvania, Michigan, and Nevada.
In Michigan, Harris holds a huge advantage with 66% odds, followed by Wisconsin at 58%. The margins are narrower in Pennsylvania and Nevada, where she leads at 52% and 51%, respectively.
Harris’ overall odds of winning the 2024 presidential election are now at 52%, giving her a 5-point lead over Donald Trump, who stands at 47%. The shift comes as Trump’s performance in the first presidential debate appeared to weaken his standing.
