Kamala Harris seeks dialogue with the crypto industry: Restarting relations with the technology sector

The team of U.S. Vice President Kamala Harris has reached out to leading companies in the cryptocurrency industry to reshape the relationships between her Democratic Party and a sector that has surprisingly become a significant supporter of Donald Trump. This initiative comes against a backdrop of increased support for former President Trump by the industry, who has revised his stance on cryptocurrencies. Sources close to the matter have disclosed that Harris's representatives have recently contacted major crypto firms such as Coinbase, Circle, and Ripple Labs. Although the Vice President's office and the Harris campaign did not comment on inquiries, some in the crypto industry hope that Harris might be more favorably inclined towards them than the current administration under President Biden. Trump, once a vocal skeptic of cryptocurrencies, has declared his support for the industry and is set to deliver the keynote speech at a Bitcoin conference in Nashville on Saturday. The crypto industry could be a crucial source of funding in the upcoming election campaign, as pro-crypto Super PACs like Fairshake have already raised over $200 million. Advisors to the Harris campaign emphasize that the goal of the dialogue is less about securing new campaign donations. Rather, it aims to build a constructive relationship to eventually create a smart regulatory environment that would support the growth of the entire asset class. Harris also pursues the objective of strengthening the Democrats' image as business-friendly and responsible. This is intended to improve the party's standing in the tech scene, which feels targeted under the current administration, particularly through actions by the competition authority. Recently, venture capitalists Marc Andreessen and Ben Horowitz announced their support for Trump after having supported several Democratic candidates in the past. Their firm, Andreessen Horowitz, is considered the world's largest crypto investor and has raised around $8 billion to invest in the sector. The crypto industry hopes Harris is more open to dialogue. An industry representative expressed that Harris's mere willingness to listen signifies significant progress, as even a meeting was not possible under Biden.