Crypto Exec Advocates for Kamala Harris in Presidential Race

CoinDesk · Megan Varner, Jesse Hamilton

Updated Thu, Aug 1, 2024

In a strategic move, former Uphold CEO J.P. Thieriot is rallying the cryptocurrency community to support Vice President Kamala Harris in her bid for the Democratic presidential nomination. This initiative aims to counterbalance the industry’s recent inclination towards former President Donald Trump.

Thieriot, who maintains a stake in Uphold and is currently developing a new crypto trading operation, believes that Harris presents a viable opportunity for the crypto sector. He suggests that Trump, despite his newfound enthusiasm for digital assets, offers only superficial promises without substantial policy commitments. Conversely, Thieriot asserts that Harris has shown a willingness to engage meaningfully with the industry.

Thieriot has collaborated with a group of crypto lawyers to draft a strategy paper for the Harris campaign, emphasizing that cryptocurrency could be a pivotal issue in the upcoming election. The paper outlines plans for a crypto fundraiser in San Francisco and predicts substantial financial support and endorsements from prominent figures within the crypto community.

Despite President Joe Biden’s endorsement of SEC Chair Gary Gensler, known for his stringent regulatory stance on crypto, Thieriot believes Harris could adopt a more favorable approach. This would include clear regulatory guidelines and potentially a more crypto-friendly SEC chair.

Thieriot’s efforts are part of a broader movement within the crypto industry, with figures like Tonya Evans, a renowned crypto law professor and board member of the Digital Currency Group, advocating for Harris. Evans and other decentralized finance leaders see Harris as an opportunity for a fresh direction, contrasting with the current administration’s policies.

Polls indicate a close race between Harris and Trump, with Harris holding a slight lead. Thieriot and his supporters hope to leverage this momentum, positioning Harris as a pro-crypto candidate who can drive innovation and regulatory clarity in the sector.

For more detailed coverage, refer to the original article on CoinDesk.