Kamala Harris Pledges to Support Crypto Industry If Elected US President

This is the first time that US presidential candidate Kamala Harris has made positive comments aimed at the cryptocurrency sector.

According to Bloomberg, incumbent US Vice President Kamala Harris, who is running against Mr. Donald Trump in the November election, has for the first time revealed a positive view on the cryptocurrency industry and other developing technologies.

Specifically, at a campaign fundraising party held on September 22 (US time), Ms. Harris made a commitment to "promote advanced technologies such as AI and digital assets, while protecting investors and ordinary consumers". The Vice President also promised to create a safe business environment for businesses, with clear and consistent regulations.

The party, held in New York City, attracted Wall Streeters who paid anywhere from $500 to $1 million for the chance to meet Kamala Harris in person. The Vice President reportedly raised an additional $27 million for her campaign thanks to the party.

Meanwhile, Reuters reported on September 22 that Kamala Harris' campaign is about to unveil a new economic development strategy with the goal of helping Americans get rich and supporting businesses to grow.

This is the first time Kamala Harris has mentioned crypto and digital assets, but did not go into too much detail. That is in stark contrast to his opponent Donald Trump, who since May 2024 has turned crypto into one of his “main weapons” to attract the crypto investment community with statements such as becoming the “Crypto President” and turning the United States into the “crypto capital of the world”, ensuring the development of the crypto industry in the US with measures to protect and encourage businesses, as well as firing SEC Chairman Gary Gensler and reforming the agency after years of suppressing the industry.

Not stopping there, Mr. Trump also mentioned the possibility of establishing a Bitcoin reserve fund for the US, using the amount of BTC currently seized by the US Department of Justice as evidence to transfer to long-term holding, instead of periodic liquidation. The former President also has many activities interacting with the crypto investment community such as using BTC for the first time to buy goods, releasing the 4th NFT collection and supporting his sons to promote their “homemade” DeFi project.

These are the latest developments in the race to the White House, which is getting more and more intense. Recently, both candidates, Mr. Trump and Ms. Harris, had a 1:1 debate, where they presented policies to lead the United States in the next 4 years if they won the election. Although receiving a lot of attention, the topic of crypto was not mentioned once in the debate. Analysts commented that Mr. Trump was at a disadvantage in the debate when he could not match Ms. Harris's fluent response, causing many memecoins that followed him to drop in price immediately after.

According to the prediction market platform Polymarket, the support rate for Ms. Harris to win the election has increased to 52%, while Mr. Trump's has dropped to 47%. This is a notable change since the end of the debate, when the market was still wondering who had the best chance of becoming the next President of the United States. This is also the highest support rate ever for Ms. Harris on Polymarket. The total market value of predictions for the 2024 US presidential election is now approaching a record $1 billion.