CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!
Biden Campaign Eyes Crypto Donations
Table of Contents
Market Musing-g

Biden Campaign Eyes Crypto Donations

BH NEWS
By BH NEWS
7 months ago
3 mins read
Biden Campaign Eyes Crypto Donations
You can also read this news on BH NEWS: Biden Campaign Eyes Crypto Donations

The election team of U.S. President Joe Biden is exploring the idea of accepting cryptocurrency donations via Coinbase Commerce. This consideration comes on the heels of former President Donald Trump’s campaign, which began accepting crypto contributions through the same platform last month. Biden’s campaign is aiming to engage the cryptocurrency community, recognizing its significance in a competitive electoral landscape.

Why Engage Pro-Cryptocurrency Voters?

Coinbase Commerce offers a service that accommodates payments in multiple cryptocurrencies, facilitating campaigns to receive such donations. By following Trump’s lead, Biden’s campaign hopes to court pro-cryptocurrency voters and donors, a substantial demographic that could prove financially beneficial.

Biden’s interest in crypto donations aims to signal support for the cryptocurrency industry, which has felt the pressure from recent regulatory actions. Insiders disclose that Biden’s team is keen on scoring quick wins to show they are not antagonistic towards the crypto sector, a sentiment echoed by sources close to both political and crypto industry leaders.

What Prompted Biden’s Campaign to Reconsider?

The initiative is also a response to criticisms of Biden’s stance on specific crypto-related legal issues. Notably, he faced backlash for opposing a bipartisan effort to repeal SAB 121, a regulation seen by many in the crypto industry as stifling U.S. growth. This criticism has led Biden’s advisors to stress the importance of engaging the cryptocurrency community to circumvent potential electoral setbacks.

Pro-crypto donors have become increasingly proactive, amassing significant funds to back candidates sympathetic to their cause. According to consumer advocacy group Public Citizen and Open Secrets, crypto-backed Super PACs have accumulated an estimated $100 million. Financial contributions often translate to voter support, and the allocation of these funds could notably influence the election outcome.

Actionable Insights for the Crypto Community

– **Watch Campaign Developments:** Stay informed on how candidates approach cryptocurrency policies and regulations.
– **Engage Politically:** Participate in political discussions and advocacy to ensure your concerns are represented.
– **Support Pro-Crypto Candidates:** Consider financially backing candidates who favor cryptocurrency-friendly policies.
– **Network Within the Community:** Build alliances with like-minded individuals to amplify your influence.
– **Monitor Regulatory Changes:** Keep track of legal developments that could impact the cryptocurrency sector.

In conclusion, the Biden campaign’s consideration of cryptocurrency donations marks a strategic move to win over a crucial voter base. This decision highlights the growing significance of the crypto community in the U.S. political landscape.

The post first appeared on BH NEWS: Biden Campaign Eyes Crypto Donations
0 likes
|

Other articles published on Jun 13, 2024

Market Musing-g

Bitcoin ETFs See Significant Inflows Amid Economic Uncertainty

Fidelity’s spot Bitcoin exchange-traded fund (ETF), FBTC, led Wednesday's inflows with an impressive $51 million. The post Bitcoin ETFs See Significant Inflows Amid Economic Uncertainty appeared fi...
By TheCoinrise Media
7 months ago
3 mins read
Market Musing-g

Gary Gensler: Ethereum Spot ETFs Could Start Trading By The End Of Summer

U.S. read more
By Benzinga
7 months ago
Market Musing-g

Investors Flock to MoonBag Meme Coin Amid BitBot Troubles and Immutable X Volatility

Crypto presales have always been an excellent investment since it is always possible to make a lot of money from the initial stages of a promising project. Who can forget the massive returns from p...
By TheBitTimes
7 months ago
5 mins read
Market Musing-g

BNB Chain & Binance Labs Launch BNB Incubation Alliance (BIA): Here’s Everything

In a bid to boost optimism across the Web3 domain, BNB Chain, a blockchain created by Binance, and Binance Labs, the venture capital arm of Binance, have collectively launched the BNB Incubation Al...
By Coingape News Media
7 months ago
3 mins read
Market Musing-g

New Binance listing IO token surges +48% in the last 24 hours

Binance exchange recently listed IO.NET's native IO token, and the token's price has been on the rise ever since. The IO token price rose 48.02% in the last 24 hours.
By Cryptopolitan_News
7 months ago
4 mins read
Market Musing-g

PEPE Witnesses Decline in Whale Activity as Demand Plummets

In the last month, there has been a significant decline in activity by Pepe (PEPE) whale addresses. On-chain activity reveals a drop in large transactions involving the meme coin completed during t...
By BeInCrypto
7 months ago

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!