As a seasoned researcher with years of experience following political and financial trends, I find myself both intrigued and slightly amused by the recent events unfolding in the U.S. presidential race. The lack of discussion on cryptocurrencies during the debate was certainly disappointing for many in the community, as it seems to have become a crucial factor in shaping voters’ decisions.
After the debate between Democratic nominee Kamala Harris and Republican nominee Donald Trump, her chances of winning increased. Interestingly, as the polls showed similar odds for both former US presidents and the Vice President, the value of the leading cryptocurrency dropped by about 1.5%.
Many investors had hoped for a discussion about Bitcoin (BTC) and digital assets during the event, but they were left unsatisfied when no cryptocurrency-related policies were brought up instead.
Presidential Debate Forgets Crypto
As a crypto investor, I eagerly anticipated the Presidential Debate on Tuesday, hoping to gain insights into each candidate’s views on our sector and their proposed policies. In today’s political climate, a candidate’s standpoint on digital assets is increasingly influential in shaping the decisions of American voters like me.
According to a recent report by Gemini Exchange, three out of every four cryptocurrency owners anticipate that digital asset regulations could influence the outcome of upcoming elections. Nearly three-quarters of those surveyed expressed intent to evaluate candidates based on their stance towards the industry when casting their vote. Additionally, around 37% of respondents foresee a substantial impact of these policies on their voting choice.
Consequently, numerous investors anticipated that the candidates might address the policies related to these sectors during their initial debate. Notably, former U.S. President Donald Trump has garnered significant backing from key players in the cryptocurrency industry due to his openness towards it.
Trump intends to address the tightening regulations in the cryptocurrency sector by putting an end to what he calls the “Biden-Harris administration’s anti-crypto campaign.” Furthermore, should he be elected, he plans to dismiss the current Securities and Exchange Commission (SEC) Chairman, Gary Gensler.
As a crypto investor, I’m still unsure about the U.S Vice President’s views on our sector due to minimal discussion during the debate. However, many within our community seem to believe that the Democratic nominee emerged victorious in the debate.
Mike Novogratz, a Bitcoin enthusiast, playfully remarked that Vice President Harris outperformed her Republican counterpart during the debate. He humorously added that speculation was circulating within the Republican National Committee (RNC) about potentially replacing their current nominee after Tuesday’s event. Furthermore, he expressed uncertainty regarding the election’s outcome, indicating that it wouldn’t be clear until the results were in, as the outcome of the election will hinge on six close-contesting states.
In simpler terms, other community members perceived that neither of the American candidates effectively addressed the major issues during the debate, such as increasing inflation, excessive government intervention, and the Federal Reserve’s practice of printing money.
In a message sent over Telegram, QCP Capital pointed out that Harris seems to have gained favor with the general public. Yet, they emphasized that neither contender offered a concise plan regarding economic policies.
VP Harris Takes The Lead
Based on Polymarket’s analysis, the probability of the Democratic nominee winning rose by 4% following the debate. Interestingly, Trump and Harris had equal chances of about 49% each to win on Tuesday night. However, during the early hours of Wednesday, Kamala Harris took the lead in the race for US Vice President.
After Taylor Swift, a renowned international artist, endorsed Vice President Harris, it boosted Harris’ chances. On Instagram, Swift made it clear that she does not support the pro-cryptocurrency Republican candidate, who had earlier posted AI images falsely claiming that Swift and her fans backed him.
Furthermore, Swift also criticized Trump’s running mate, J.D. Vance, over his remarks labeling some female Democratic politicians as “childless cat ladies.” Notably, the Democratic candidate has garnered endorsements from 88 business leaders before the debate, which include Ripple‘s co-founder Chris Larsen and entrepreneur Mark Cuban.
Currently, predictions show that Kamala Harris has a 50% likelihood of winning the upcoming election, surpassing Donald Trump’s 49%. Additionally, the probability of her victory in the key battleground states has risen by 2% in the forecast market.
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2024-09-12 12:42