Kamala Harris Strengthens Crypto Ties to Boost Election Bid

Kamala Harris is working to improve her relationship with the cryptocurrency industry as she prepares for her presidential campaign. Her efforts include securing endorsements from key figures like J.P. Theriot and adding a crypto expert to her team. These strategies aim to strengthen her campaign's appeal to the crypto sector and boost her election prospects.

Harris’ campaign is focused on rebuilding ties with the crypto industry. Despite most industry support leaning towards former President Donald Trump, who recently criticized current SEC Chair Gary Gensler's approach to crypto, Harris is gaining interest among crypto enthusiasts.

Recently, J.P. Theriot, co-founder of Uphold, endorsed Harris on X (formerly Twitter), marking the first crypto executive to support a Democratic candidate. Theriot criticized Trump’s promises as vague and praised Harris for her potential understanding of new technologies.

Theriot stressed that Harris’ campaign should show a genuine commitment to mending relations with the crypto industry. He believes that a practical approach could win substantial backing. However, he clarified that his support is personal and does not represent Uphold’s official stance.

“In a 50/50 game, having a seat at the table when policies are formed by the next president is the only priority,” Theriot stated. “We need to dispel misunderstandings and reverse outdated policies to unlock digital asset innovation.”

California Congressman Ro Khanna is organizing a meeting to help Harris improve her relationship with the crypto sector. According to Fox Business’ Eleanor Terret, this meeting will include important crypto industry figures and members of the Harris campaign.

Harris’ campaign has also made key hires to strengthen its crypto connections. Reports suggest that Harris has brought on David Plouffe, a former advisor at Alchemy Pay and a member of the Binance Global Advisory Board, as a Senior Adviser. Plouffe, who worked on Obama’s team, advocates for clear crypto regulations.

Harris’ campaign raised $310 million in July, more than doubling her Republican rival’s fundraising, with $377 million in cash reserves. These successes indicate growing support that could strengthen her White House bid.

The strategic moves by Harris' campaign appear effective, with data from Polymarket showing her election chances now tied with Joe Biden’s peak odds at 45%. Harris’ active engagement with the cryptocurrency industry through endorsements, strategic hires, and fundraising reflects her strategy to appeal to a sector with significant influence.

By aligning with key figures and addressing regulatory issues, Harris aims to present herself as a candidate who understands and supports crypto innovation. As the 2024 election nears, Harris’ campaign will likely continue to focus on strengthening these relationships and demonstrating her commitment to creating a favorable environment for digital assets.

In summary, Harris’ efforts to engage with the cryptocurrency sector are a major part of her presidential strategy. By addressing the interests of the crypto community, she seeks to build alliances and gain support from a growing and influential sector. Her success in navigating these relationships could be crucial to her political future.