Crypto Leaders Supporting Kamala Harris with $100K Fundraiser

Several cryptocurrency executives and industry advocate groups are organizing a fundraiser for Vice President Kamala Harris. The event, set for September 13 in Washington, aims to raise $100,000 to bolster Harris’s campaign and encourage a more favorable stance on crypto if she ascends to the presidency.

Event Details

Tickets for the fundraiser are reportedly priced between $500 and $5,000, reflecting the serious intent of the organizers to make a major impact. Cleve Mesidor, the executive director of the Blockchain Foundation, stated that the event aims to “make a statement about what crypto is for Democrats as a potentially new administration.”

Mesidor also expressed hope that a Harris presidency could lead to policies that foster the growth of the crypto industry, particularly by providing access to capital for more people of color.

Harris’s Stance

Despite Harris’s relatively quiet public stance on cryptocurrency, her campaign has been actively engaging with key players in the sector, indicating an openness to dialogue. Notably, several prominent figures such as billionaire investor Mark Cuban support Harris over her rival, Donald Trump. 

Interestingly, Harris’ team met with crypto executives for the second time in August, following an earlier roundtable discussion in July. At the Democratic National Convention, Harris’s senior campaign adviser, Brian Nelson, emphasized her commitment to supporting policies that allow emerging technologies to thrive.

Persistent Regulatory Scrutiny

This effort comes at a crucial time for the crypto industry, which has faced increasing regulatory scrutiny under the current administration. The Securities and Exchange Commission (SEC), led by Gary Gensler under President Joe Biden, has taken enforcement action against several major crypto firms, accusing them of violating securities laws. These actions have raised concerns within the industry about the potential for even stricter regulations under future leadership.

In response to these challenges, major players like Coinbase and Ripple have invested heavily in political advocacy, spending $120 million in 2024 alone to influence the election through super political action committees (PACs). These efforts include Fairshake, a PAC that has spent millions campaigning against policies perceived as harmful to the crypto sector.

As the election approaches, the crypto industry’s support could play a significant role in shaping the conversation around digital assets and their place in the U.S. economy.