Vice President Kamala Harris, the Democratic presidential nominee, is making crypto and AI central to her campaign. Speaking to donors in New York City, Harris laid out her plans to strengthen the U.S. tech industry while ensuring consumer and investor protections. This marks her first public support of cryptocurrency as part of her bid for the White House.Â
Crypto Takes Center Stage in Harris’ CampaignÂ
At a Manhattan fundraiser, Harris discussed her vision for collaboration across tech sectors. Her stance has gained the support of key figures in the crypto world. Chris Larsen, co-founder of Ripple, has endorsed Harris, joining other prominent business leaders who believe in her leadership. Â
Larsen is well-known for pushing for better blockchain regulations, and his backing signals trust in Harris’ approach to balancing innovation and regulation.Â
Ripple CEO Brad Garlinghouse also commented on the growing Republican interest in crypto. However, he pointed out that Harris and other key Democrats recognize the importance of new technologies in keeping the U.S. competitive.Â
Crypto and the 2024 ElectionÂ
Former President Donald Trump, Harris’ Republican opponent, has also made moves in the crypto space. He has vowed to remove SEC Chair Gary Gensler and install pro-crypto regulators. Trump has even proposed a framework for stablecoins and recently made headlines by using Bitcoin to purchase food at a crypto-themed bar in New York.Â
Despite Trump’s efforts, Harris currently leads him in election prediction markets. Polymarket data shows Harris with a 52% chance of winning, compared to Trump’s 47%. This lead grew after a September debate, where Trump failed to mention crypto, disappointing some industry supporters.Â
Crypto’s Growing Political PowerÂ
The influence of the crypto sector in the 2024 election is undeniable. Major companies like Coinbase and Ripple have collectively spent over $119 million backing candidates who support clear crypto regulations. Since 2010, crypto companies have contributed $129 million to political campaigns, making them one of the biggest spenders, second only to the fossil fuel industry.Â
Crypto-backed political action committees (PACs) have also had significant success. Of the 42 primary races they’ve targeted, their chosen candidates won 36 times, showcasing the industry’s growing influence in shaping American politics.Â
