Ripple CTO Bets on Joe Biden’s Replacement for Pro-Crypto Policy

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As a seasoned researcher with extensive experience in following political developments and their impact on the crypto market, I believe that Joe Biden’s withdrawal from the presidential race and the subsequent speculation about his replacement could bring some significant changes to the crypto policy landscape.

On July 21, 2023, President Joe Biden of the United States officially withdrew his candidacy for the upcoming presidential elections against Republican opponent Donald Trump. The Democratic Party has yet to declare Biden’s successor. However, crypto market participants are now anticipating that the new Democratic nominee will adopt a pro-crypto stance.

Ripple CTO Bets on Joe Biden Replacement

As Donald Trump gains momentum in his presidential campaign with a significant following among crypto enthusiasts, David Schwartz, the chief technology officer at Ripple, is placing his bets on Joe Biden as the Democratic nominee to institute favorable crypto policies once elected.

Schwartz, in his latest post on X, argued that the Democrats wouldn’t experience a voter loss if they were to replace Joe Biden. He explained that there weren’t any die-hard Biden supporters, but instead, anti-Trump sentiment drove voters. The Ripple CTO posits that this shift could potentially draw in undecided voters who had reservations about Biden’s capacity for a second term.

Additionally, this move could enable Democrats to shift their stance on cryptocurrency with legitimacy since there aren’t any known opponents of cryptocurrencies within their ranks.

Democrats stand to gain votes by substituting Biden with another candidate. Previously, there were only anti-Trump voters, not specifically pro-Biden supporters. Now, they have the opportunity to appeal to individuals worried about Biden’s capacity for a second term. Additionally, this change allows the party to effectively address crypto policy concerns without appearing disingenuous, as there are no anti-crypto voters.

— David “JoelKatz” Schwartz (@JoelKatz) July 21, 2024

As an analyst, I’ve noticed some speculation among political circles about potential changes in leadership, with Kamala Harris being a frequent topic of discussion. However, there seems to be a consensus that policy-wise, we may not see significant shifts if Biden remains in office.

“He wasn’t that person at all. However, keeping the same leader wouldn’t have been a viable option to differentiate ourselves from Biden without appearing as if we were merely imitating Trump. It’s crucial for us to determine how our new candidate can stand out from Biden and attract voters.”

Don’t Expect Much Policy Changes

In a recent post on X, former Congresswoman Tulsi Gabbard expressed her perspective on potential shifts if Kamala Harris assumes the presidency.

As someone who has closely followed American politics for decades, I have observed how power often shifts behind the scenes, even when the public face of leadership changes. While Joe Biden may no longer be in office, I am skeptical that Kamala Harris’ ascension to the vice presidency will bring about any significant policy shifts.

Some competitors, such as Elon Musk, have criticized Kamala Harris publicly, offering a glimpse into potential challenges she may face if elected president.

Imagine 4 years of this …

— Elon Musk (@elonmusk) July 22, 2024

The cryptocurrency market, with Bitcoin leading the way, has demonstrated resilience in the face of recent significant events on Sunday.

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2024-07-22 07:42