Advisers to Kamala Harris have reached out to major cryptocurrency companies to “reset” relations between the Democratic party and a sector that has emerged as a significant supporter of her presidential rival, Donald Trump. Four individuals familiar with the situation reported that members of the vice-president’s team have recently contacted key figures connected to leading crypto firms, including Coinbase, Circle, and Ripple Labs.
The vice-president’s office and Harris’s campaign did not provide any comments. Similarly, Coinbase and Ripple declined to comment, while Circle did not immediately respond to a request for comment.
Harris’s approach to the cryptocurrency industry comes as Trump enjoys considerable support from this sector. The former president, who previously expressed skepticism about cryptocurrencies, has now endorsed the industry and is scheduled to deliver the keynote speech at a Bitcoin conference in Nashville on Saturday.
Cryptocurrency groups are expected to be a significant source of funding for candidates in the upcoming election. The pro-crypto super PAC Fairshake has raised over $200 million from backers, including Coinbase, Ripple, and Andreessen Horowitz, according to filings.
Read more: US Senators fight to bring crypto back to the community by 2024
Advisers to the Harris campaign on business matters emphasized that outreach to the crypto industry is not primarily about securing new electoral contributions. Instead, the goal is to establish a constructive relationship that could lead to a smart regulatory framework, benefiting the growth of the entire asset class.
Campaign advisers mentioned that Harris aims to alter the perception among many top executives in America that the Democrats are anti-business. One adviser noted that the campaign is using the change in leadership on the Democratic ticket as an opportunity to reset relations with the tech industry, which has felt targeted by the Biden administration, particularly concerning antitrust issues.
Harris’s message to the tech community is that the Democrats support “pro-business, responsible business,” according to a person close to her campaign. She seeks to regain support from the tech sector, particularly in her home state of California, where many have distanced themselves from the party due to concerns about new taxes or regulations.
Recently, venture capitalists Marc Andreessen and Ben Horowitz announced their support for Trump in the upcoming election, despite previously backing several Democratic candidates. Their firm, Andreessen Horowitz, claims to be the largest crypto investor globally and has raised approximately $8 billion for investment in the sector.
David Ma was born in 1980 in California, is a Vietnamese American, known as one of the entrepreneurs and investors in the field of cryptocurrency and stock market. In 2006, he graduated from Stanford University with honors and began his career in business.
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