Both candidates have adopted a pro-crypto position; their collaboration could create a powerful narrative in the 2024 election.
Photo: KQED
Key Takeaways
- Kennedy's campaign is evaluating a potential endorsement of Trump to avoid splitting votes.
- Trump has become a pro-crypto candidate, promising to support the industry.
Pro-crypto presidential candidate Robert F. Kennedy Jr.’s campaign is mulling quitting the election bid and joining forces with Donald Trump, said Nicole Shanahan, Kennedy’s running mate, on Tom Bilyeu’s Impact Theory podcast. Shanahan’s statements were first shared by Collin Rugg, Trending Politics’ co-owner.
Dropping out of the election race is just one of two possible outcomes. Shanahan said Kennedy’s campaign is also considering continuing their third-party bid, but it comes at the risk of splitting votes with Trump, which could benefit Kamala Harris’ campaign.
“There are two options that we’re currently looking at and one is staying in and forming that new party, but we run the risk of a Kamala Harris and Waltz presidency because we draw votes from Trump,” Shanahan stated.
“Or we walk away right now and join forces with Donald Trump,” she noted, adding that it would not be an easy decision and they would need to justify it to their supporters.
According to Politico, Kennedy’s campaign is struggling financially, with $3.9 million in cash and $3.5 million in debt as of July 2024. Despite efforts to boost fundraising, the campaign’s expenditures have consistently outstripped its income.
If Kennedy’s campaign team chooses to collaborate with Trump’s team, that could create a powerful narrative in the 2024 election as both two figures have adopted a pro-crypto stance.
Trump has positioned himself as a pro-crypto candidate, pledging to retain all Bitcoin held by the US government and to ease regulatory pressures on the crypto industry.
Harris’ position on crypto is unclear, though reports indicate that her campaign team has been working to reconnect with the industry in recent weeks.
Despite crypto’s growing popularity, its potential impact on voting behavior remains uncertain. Voters often make decisions heavily influenced by key issues like economic conditions.
Harris has recently faced criticism for her new economic proposals, with figures like former Obama economist Jason Furman questioning the practicality and sensibility of her plans.
Following her speech on these proposals, Harris’ odds of winning the election dropped to 49% on the decentralized prediction marketplace Polymarket, while Trump’s odds saw a corresponding surge to 49%.
