Regulation
Who are Trump’s crypto allies? Who’s opposing him? Industry experts on both sides are getting more enterprising in the presidential race – DL News
- Trump embraced crypto during his election campaign.
- Biden shifts administration’s hard line on industry
- Cryptocurrency industry leaders are lining up on both sides.
As cryptocurrency emerges as a surprise issue in the 2024 US presidential election, influential figures in the sector are mobilizing for and against Donald Trump.
The former president and presumptive Republican nominee has just accepted talk at a Bitcoin conference in Nashville, Tennessee.
Meanwhile, President Joe Biden is turning to a more open position on digital assets after his administration cracked down on the industry.
But that doesn’t mean the crypto elite supports the current resident of the Oval Office.
Here’s a look at who’s who in each party’s corner:
The pro-Trump camp
Ryan Selkis
Co-founder and CEO of Messari
As one of the former president’s most vocal supporters in the crypto industry, Selkis’ X-Stream has become a must-read for many in the industry.
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He is a key fundraiser for FairShake, a crypto super PAC that has raised nearly $180 million to support pro-crypto candidates.
As a celebrity guest at Mar-a-Lago, Trump’s Florida estate, Selkis brought crypto policy to Trump’s attention and received a round of applause.
Jesse Powell
Co-founder of Kraken
After co-founding Kraken in 2011, Powell became a major influencer in the early days of Bitcoin and the digital asset market.
In June, Powell, now Kraken’s chairman, donated $1 million, mostly in Ether, to Trump’s campaign.
“I am thrilled to join other leaders in our community to unite behind the only major party pro-crypto candidate in the 2024 presidential election,” he said. published on X.
Tyler and Cameron Winklevoss
The Founders of Gemini
Billionaire twins Tyler and Cameron Winklevoss became early investors in Bitcoin and founded their own cryptocurrency exchange and custodian, Gemini.
The couple, who rose to fame after suing Mark Zuckberberg for allegedly stealing their idea for Facebook, each donated $1 million in Bitcoin to Trump’s campaign in June.
“President Donald J. Trump is the pro-Bitcoin, pro-crypto, pro-business choice,” Tyler said. published on X. “It’s not even remotely up for debate.”
The anti-Trump camp
Marc Cuban
Angel Investor and TV Personality
Shark Tank celebrity and billionaire investor have supported a suite of crypto projects, including OpenSea, Polygon, and Arbitrum.
Cuban once said that he support Biden, even on his deathbed, called Trump a “snake oil salesman.”
Now, after the president’s poorly received performance in the June debate, he said it was Worth to be considered a replacement for the Democratic Party nomination.
Anthony Scaramucci
Founder of SkyBridge Capital and the SALT Conference
Scaramucci, a hedge fund manager and Goldman Sachs alumnus, got into crypto several years ago and has built a close relationship with Sam Bankman-Fried and FTX.
After serving as communications director for the Trump White House for only 10 daysScaramucci is now standing up to his former boss and has urged voters to back Biden. The former Republican Party official said a second Trump term would usher in a “dystopian” era ruled by “anarcho-Christian nationalists”.
He recently bypassed Asked if he thought Biden should resign, he said he would support any Democrat over Trump.
Mike Novogratz
CEO of Galaxy Digital
Known as “Novo,” the billionaire CEO of crypto titan Galaxy Digital, is a registered Democrat and has expressed optimism that the Biden administration will change its hard line on the crypto industry.
Since his debate appearance, Biden has called on the president to withdraw from the Democratic Party’s ticket of candidates.
He is one of the number donors who gave $2 million to party candidates who urged the current president to resign. “End the gerontocracy,” he said. published on X.
Ben Weiss is a Dubai correspondent for DL News. Got a tip? Email him at bweiss@dlnews.com.