Crypto executives and industry advocates are planning a $100,000 fundraiser for US Vice President Kamala Harris, set to take place on September 13 in Washington, D.C.
The move is eyed as part of a strategic attempt to encourage greater leniency in the crypto sector from regulators in case Harris wins the presidency in November. Tickets to the fundraiser are between $500 and $5,000.
Kamala Harris: Seeking A Change Of Heart
The fundraiser – hosted by the Blockchain Foundation and other crypto advocacy groups – indicates a serious attempt at trying to make Harris reconsider her stance on digital assets.
Organizers are expecting the event to engender discussions about how a would-be Harris administration could foster the burgeoning crypto industry.
Cleve Mesidor, executive director at the Blockchain Foundation, weighed in to make a statement about crypto’s role within the Democratic Party:
“This could present an avenue for discussing ways to improve access to capital in the industry for underrepresented communities.”
Total crypto market cap at $2.01 trillion on the daily chart: TradingView.com
The fundraiser comes amid increased pressure from the Securities and Exchange Commission under the Biden administration, which has pursued several large crypto firms for alleged securities violations.
Among the hardest-hit companies are Coinbase and Ripple, which in turn have contributed millions into super political action committees seeking to influence the election.
In total, all these companies have pumped about $120 million into the PACs this year alone, one of which, Fairshake, has waged an aggressive campaign against Kamala Harris and her party.
US Vice President Kamala Harris. Image: Spectrum News
Harris’ Relationship With The Crypto Community
Harris’ team has been reaching out to leaders in the crypto world this year, hosting a meeting with top executives on the state of the digital asset landscape. It was their second outreach on the matter since last July.
Brian Nelson, a senior adviser to the campaign would only say that Harris would welcome policies “that let new technologies flourish,” but he didn’t make any concrete commitments on crypto.
Source: 538
The outreach is a sign of wanting to open up to the crypto industry, as many times the current set of regulations alienates it. How this campaign reaches out to luminaries within the industry may signal that a pending Harris pivot is in play. She has a political climate in which she has to navigate with regards her rival, Donald Trump, who’s far more outspoken in support of crypto.
The Political Landscape
While Harris is relatively quiet on crypto compared to Trump, she now leads in national polls. With a 3.2% edge over Trump as of September 1, her margin has been increasing since President Joe Biden endorsed her candidacy.
The crypto community’s support for Kamala Harris comes with its challenges too. Many in the industry remain skeptical as to how far she would push reforming the existing regulations, especially after mixed signals from the Democratic Party on crypto policy.
Featured image from Get Fully Funded, chart from TradingView