AlthoughBitcoinwon\'tbeontheballotthisElectionDay,it\'shardtodenydigitalassets’griponU.S.politicsthiselectioncycle.
FromU.S.congressmen\'spublicpowwowswithcryptoindustryleaderstoTrump\'sDeFiprojectlaunchtobothpresidentialcandidates’promisestosupportnewregulationsforthedigitalassetsindustry,cryptohasdominatedmainstreammediaheadlinesandechoedacrosssocialmediaplatforms.
Here\'saroundupofthecryptoindustry\'smostsignificantmilestonesaheadofElectionDayonTuesday.
TrumpNFTMar-a-Lagoevent
DonaldTrumpelicitedcheersfromacrypto-friendlycrowdinMayforpromisingtokeepdigitalassetscompaniesstatesideduringaneventforhislatestNFTcollectionatMar-a-Lago.
Theformerpresident\'svowtoprotecttheburgeoningU.S.cryptoindustrycameasaresponsetoaquestionfromanNFTbuilderfromtheprominentDeGodsproject,sportingapairofPitVipershadesatthesoiree.
Thememeifiedmomentcaughtfireonsocialmedia,bolsteringpositivesentimentsaboutthefutureofU.S.cryptoregulationandpolicyamongstsomecryptoenthusiasts.Despitethesillinessofthemoment,somehaileditasaturningpointforcryptoinpolitics.
RepublicansputBitcoininpartyplatform
TheGOPralliedbehindDonaldTrump’scryptopivotinearlyJuly,vowingto“defendtherighttomineBitcoin”andself-custodycryptoinitspartyplatform.
TheRepublicanNationalCommittee’smanifestoalsoexpressedbroadersupportfordigitalassetscompanies,promisingtoendan“unlawfulandun-Americancrackdown”ontheU.S.cryptoindustry.
TrumpandRFKJr.talkBitcoinatBTCNashville
DonaldTrumppromisedtocreateastrategicBitcoinstockpilefortheU.S.FederalReserveifelected,duringaspeechatBTCNashvilleonJuly27.HealsovowedtofireSecuritiesandExchangeCommission(SEC)ChairGaryGenslerandputregulatorspartialtocryptointopower.
Meanwhile,then-independentpresidentialcandidateRobertF.KennedyJr.(RFKJr.)offeredamorenuancedanddetailedplantopromoteBitcoinduringaseparateeventatthesameconference.RFKultimatelysuspendedhiscampaign,however,andthrewhissupportbehindTrump.
WorldLibertyFinancialreveal
TheTrumpOrganizationrevealedinAugustthatitwouldembarkonyetanothercrypto-relatedventure.
Thedetailsofthebusiness,aDeFiplatformcalledWorldLibertyFinancial(formerlyTheDeFiantOnes),remainedlargelyunclearatthetime.However,Trumppromisedthattheprojectwouldfree“theaverageAmerican”from“thebigbanksandfinancialelites”inapostonTruthSocial.
TheannouncementwasmetwithexcitementamongusersonCryptoTwitter,butitalsoinvitedquestionsaboutpotentialconflictsofinterestposedbyTrump\'sdeepeningenmeshmentwiththecryptoindustryaheadofhispotentialre-election.
TrumpsharedmoredetailsontheprojectinaSeptemberlive-streamedinterviewwithRugRadio,Decrypt’ssistercompany,andhostedatokensaleinOctoberthatsawmiddlingdemand.
DecryptalsoreportedinOctoberthatWorldLibertyFinancialplanstoissueitsownstablecoin,citingsourcesfamiliarwithitsplans.
Crypto4Harrisroundtable
Sen.ChuckSchumer(D-NY)vowedtopasslegislationthatgivesclearregulatoryguardrailsforthecryptoindustryintheU.S.atagrassroots-organizeddigitaltownhallmeetingforDemocraticpresidentialnomineeKamalaHarrisinAugust.
The90-minuteCrypto4HarrislivestreambroughttogetherseveralU.S.Democratcongressmen,suchasWileyNickel,ahostofkeycryptoindustryplayers,andbillionaireinvestorandentrepreneurMarkCuban.TheeventmarkedoneofthefirstpublicshowingsofsolidaritybetweenU.S.Democratsanddigitalassetcompanies.
Trumptokenspeculation—andscams
InAugust,cryptoholdersexpressedexcitementabouttheTrumpfamily\'splanstorolloutaDeFiplatformcalledWorldLibertyProject.ButtheirenthusiasmwasbluntedwhenWLFcameupagainstthegreatestscourgeofthedecentralizedfinanceworld—scammers.
InearlySeptember,scammersspunupseveralfakepagesforthemuch-awaitedproject.ThelinkswerepromotedonseveralTrumpfamilymembers’socialmediaaccounts,whichappearedtobehacked.
Theconfusionledsomewould-beWLFinvestorstoclickonmaliciouslinksandlosetheircryptoholdings.ThescamsmarredthelaunchoftheDeFiproject,whichhasexperiencedlacklusterparticipationandtokensales.
FurthercomplicatingmatterswereconflictingclaimsoverwhethertheDJTtokenwasultimatelyan“official”TrumpcoincreatedwiththehelpofDonald’sson,BarronTrump,as“PharmaBro”MartinShkreliclaimed.Thatwasneverproven,however,andformerTrumpallyRogerStonesaidthatitwasnotalegitTrumpproject.
TrumpbuysburgerswithBitcoininNYC
TrumpboughtaroundofburgerswithBitcoininSeptemberatPubKey,aBTC-themedbarinManhattan.ThecampaignstuntcameseveralmonthsaftertheRepublicannomineespokeatBitcoinNashville.
Invideoclipssharedfromthebar,heusedasmartphonetomakethepurchaseusingBitcoin.Hethenproceededtocallthem“cryptoburgers”inapotentialfauxpas,asBitcoinersattemptedtocorrecthim,butnoneofthedie-hardBTCfansappeartobeholdingitagainsthim.
Harrisfinallymentionsblockchain
VicePresidentKamalaHarrisbrokehersilenceoncryptoatTheEconomicClubofPittsburghinSeptember,surprisinghersupportersanddetractors.
TheDemocraticpresidentialnomineesaidinaspeechthatheradministrationwouldfighttohelptheU.S.“remaindominantinAIandquantumcomputing,blockchainandotheremergingtechnologies.”
ThepubliccommentscameroughlyaweekafterHarrisreportedlytalkedaboutdigitalassetswithdonorsatafundraisingeventforhercampaign.
Heracknowledgmentofthecryptoindustryalsocameshortlyafterthevicepresident\'sseniorcampaignadvisoronpolicysaidattheDemocraticNationalConventionthatHarris’administrationwouldsupportemergingtechnologies.
HarrisrevealsregulationplanstargetedatBlackmen
Harris’campaignmadewavesonsocialmediaforpromisingtochampionnewdigitalassetsregulationsintheU.S.aspartofitsofficialstrategytotargetBlackvoters.
Inaplatformcalled“KamalaHarrisWillDeliverforBlackMen,”theHarriscampaignsaiditwouldsupport“aregulatoryframeworkforcryptocurrencyandotherdigitalassetssoBlackmenwhoinvestinandowntheseassetsareprotected.”
Theplatformwasmetwithamixofderisionandpraiseonsocialmedia,withsomeCryptoTwitteruserscriticizingthecampaign\'suseofidentitypolitics.
Otherdetractorsquestionedtheplatform\'sdecisiontosingleoutBlackmen,raisingquestionsabouttheextenttowhichBlackmalevoterscareaboutcryptoasanelectionissue.Thecampaignultimatelyclarifiedthatsuchplanswouldbepursuedwithoutanyspecificrace-relatedlimits.
EditedbySebastianSinclairandAndrewHayward
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