President Joe Biden Has Finally Fallen In Love With Crypto, Here’s Why

banner-image

President Joe Biden and his re-election campaign has recently taken steps to connect with big players in the cryptocurrency industry to gain insights on the crypto community and policy moving forward. 

This action marks a significant change in approach from both the Biden administration and the campaign towards digital assets. It reflects a newfound openness to comprehend the intricacies of the crypto industry landscape and interact with its various communities.

Biden Campaign: a fresh perspective on digital assets

The outreach began approximately two weeks ago, as Biden’s team is becoming more aware of how crypto-related matters could influence a closely contested presidential race. 

Not too long ago, the Joe Biden for President (BFP) campaign team advertised a job role for a Meme Manager which involves managing and coordinating daily interactions with popular content and meme pages online.

This sudden interest in connecting with digital assets experts and supporting crypto initiatives occurred following objections from crypto enthusiasts and investors to the Biden administration’s proposal to veto anti-crypto laws and the urgent need for crypto regulations.

Biden’s pivot towards crypto shows a direct response to the worries expressed by crypto advocates about the regulatory landscape and the necessity for policies that promote innovation and advancement in the industry.

The Joe Biden crypto embrace: genuine move or political maneuver?

The U.S. President recent efforts to engage with the crypto sector have garnered positive feedback from many within the industry. 

However, there are some who remain skeptical, feeling that these actions may have come after a significant delay, hence the perception of “too little, too late.” 

This skepticism stemmed from his former tough stance on crypto. Recently, Cardano founder, Charles Hoskinson strongly criticized President Biden, for actively trying to break down the crypto industry in the United States.

Other crypto companies and investors have echoed this sentiment regarding President Joe. Samson Mow, a prominent Bitcoin advocate, has recently voiced concerns about politicians’ sudden shift in supporting crypto. 

Trump’s crypto nudge mold Biden’s stance?

It is not surprising to think that recent political changes, such as the Trump campaign’s acceptance of cryptocurrency donations and his pro-crypto stance could have influenced the Joe Biden change in perspective. 

Additionally, Trump’s doubts about Central Bank Digital Currencies (CBDCs) at the 2024 Libertarian national convention could also be a factor.

It is a big change from Trump’s view when he called cryptocurrencies “a very dangerous thing” back in 2021. Similarly to Biden’s campaign team, Trump’s administration is also influencing their views on digital assets. 

June 15, 2024

Gemini Exchange has reached agreement with the New York Attorney General..

June 15, 2024

The Play-2-Earn (P2E) game Notcoin has soared by 15% since the..

June 15, 2024

El Salvador is planning to build a Bitcoin Bank. If done,..

ads-image ads-image