Super PAC Connected to Kamala Harris Open to Crypto Contributions
Despite a history of caution regarding cryptocurrencies, Vice President Kamala Harris appears to be shifting her position by indirectly welcoming digital asset contributions through a connected Super PAC. Reports indicate that Future Forward, a group associated with Harris, has integrated with Coinbase Commerce to facilitate crypto donations.
The announcement follows recent discussions between the Harris campaign and various cryptocurrency entities, including Coinbase. During Citigroup’s 2024 TMT Conference in New York, Coinbase CFO Alexia Haas revealed the news, which was subsequently verified by an official statement from Coinbase:
“Coinbase has verified that the Future Forward PAC is now utilizing Coinbase Commerce to accept cryptocurrency donations.”
Having already raised substantial funds for Kamala Harris’s Presidential bid, this Political Action Committee (PAC) continues to support her candidacy, as recent polls indicate she maintains a slight edge over Former President Donald Trump. The PAC’s decision to embrace cryptocurrency suggests the potentially significant role of digital assets in the upcoming elections.
Trump versus Biden: A Crypto Perspective
Despite reservations among many crypto investors toward Democrats and Harris, particularly given the Biden administration’s and SEC Chair Gary Gensler’s stance on cryptocurrencies, there seems to be growing favorability toward Republicans and Donald Trump. Notably, Trump, who previously criticized cryptocurrencies as “not real money” and a “scam,” has adopted a more favorable stance towards the industry due to its economic influence.
Trump’s engagement with cryptocurrency leaders, culminating in discussions with Bitcoin mining executives at Mar-a-Lago, underscores his evolving crypto-friendly stance. Reports even suggested commitments exceeding $100 million from some Bitcoin mining firms to support the former President’s activities.
However, the landscape may soon shift, with the Blockchain Association arranging a fundraiser for Vice President Harris. While the initial objective is to raise $100,000, insiders anticipate this event will set the stage for subsequent fundraising endeavors.
Notably, cryptocurrency executives anticipate a more congenial approach to the industry under a Harris administration, hoping for a reevaluation of SEC actions in the sector.