2024-09-04 14:45:18
In the United States, the cryptocurrency industry is taking advantage of the duel between Donald Trump and Kamala Harris to court candidates and obtain more favorable regulations. These new sponsors are now among the most influential in the country.
$174 million. This is the colossal budget that the cryptocurrency industry has given itself to weigh on the 2024 elections, regardless of who Donald Trump or Kamala Harris will settle in the White House. Called “Fairshake”, this interest group brings together the main giants of the sector. In the United States, it is called a “super PAC”. In other words, a big lobby.
It doesn’t matter who the candidate is as long as he goes “to the moon”
Coinbase, the largest crypto exchange platform in the United States, is advocating for more lenient regulation of crypto-assets. And this, potentially to the detriment of users, who are often left to their own devices, as during the collapse of the FTX platform in 2022. For this industry, the objective is simple: to push the issue of cryptocurrencies onto the political scene. Both to promote a sector with a still sulphurous reputation, but also to influence the law in their favor.
That’s why installing senators and congressmen who are favorable to the cryptocurrency industry is crucial. Conversely, ousting politicians who are opposed to crypto is also part of the strategy. “Crypto-skeptic Democrats are facing an influx of money to support their rivals,” the journalist notes. Cory Doctorow.
Is there a crypto vote?
To convince politicians, and beyond financial support, the Super PAC Fairshake also dangles before candidates from both camps the prospect of obtaining the “crypto vote.” This fringe of Americans who are not very politicized is supposed to swing the disputed states, the ” swing states “This new electorate would represent 20% of Americans, according to a study close to the sector. However, the US Federal Reserve reports that only 7% of Americans are involved in any way with digital assets.
For its part, the political alliance « Stand With Crypto » aims to bring together cross-partisan figures who are pro-cryptocurrencies. The website notably lists politicians who are pro-cryptocurrencies, with a rating scale ranging from “A” to “F.” But here again, Coinbase and other companies in the sector are at work, despite their discreet involvement.
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