Attempts by U.S. Vice President Kamala Harris’s presidential campaign to better understand the crypto industry are happening and mark a "concerted effort" in that regard, according to Circle CEO Jeremy Allaire.
The stablecoin tycoon said Wednesday that he was in attendance for a Zoom meeting last week that brought together crypto leaders and White House officials—some of which included unnamed “Harris folks.”
“What I can say is there is a concerted effort both from the administration and the Harris campaign to really get to know the issues, the players, the industry, the policy issues, etc,” said Allaire during an interview with CNBC.
Blue, Red or Purple? Here's Circle CEO Jeremy Allaire on the crypto community's stance on who will win the election and what it means for digital assets. pic.twitter.com/RtZSLSFli7
— Squawk Box (@SquawkCNBC) August 14, 2024
“I think what the industry is looking for—very, very clearly—[are] clear statements,” he continued. “Clear statements potentially from the existing White House, and clear statements from Harris as part of her economic policy agenda.”
As of today, crypto voters can only speculate as to what Harris’s views are on digital assets. The late Democratic nominee substitute has no record speaking about Bitcoin or other cryptocurrencies, and while there was speculation over whether she might be a late addition to the annual Bitcoin Conference in Nashville in July, she ultimately did not appear.
But small signs of her at least being open-minded to crypto are emerging. Billionaire entrepreneur Mark Cuban—another attendee at last week’s meeting—told Decrypt in July that the Harris campaign reached out to him with “multiple questions” about crypto.
“The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service,” Cuban said at the time.
Her actions, however, may suggest otherwise. According to Bloomberg, Harris has already hired Brian Deese and Bharat Rhamamurti to help her craft her pitch on economic policy—two former Biden aides that helped lead much of his administration’s anti-crypto efforts.
“They’ve caused American jobs to go overseas, they’ve made the cost of building in this space extremely prohibitive,” said Allaire with respect to Biden's administration. “They’ve created a situation where policy is being adjudicated by the courts, and not by Congress.”
Over the past month, Harris has gradually emerged as the favorite among crypto bettors to win the November election, reflecting national polling changes.
Given that her opponent, Donald Trump, is viewed as more favorable to the industry, Bernstein’s analysts suspect that Bitcoin’s price is sinking in direct relation to his declining election odds.
Edited by Andrew Hayward