Crypto Industry Unlikely to Back Kamala Harris Over VP Tenure Inaction, Exec Says

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

August 30, 2024 02:17 EDT

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Democratic presidential candidate Kamala Harris is not likely to garner significant support from the crypto industry, primarily due to her perceived lack of interaction with the community during her time as Vice President, said MatterFi CEO Michal “Mehow” Pospieszalski.

Harris has not publicly disclosed her position on digital assets. Still, she has committed to representing the views of all Americans should she be elected president.

Pospieszalski further mentioned that billionaire Mark Cuban’s endorsement for Kamala Harris doesn’t necessarily signal robust support for cryptocurrency within her campaign. Cuban recently participated in a town hall organized through the newly formed Crypto For Harris group, which advocates for Harris’ campaign.

MatterFi CEO Labels Kamala Harris’ Crypto Support a ‘Me Too’ Move

In a July interview with Politico, Cuban said that Harris might show more support for the blockchain sector compared to her predecessor.

“I am unaware of any prominent figures in the crypto community who view Mark Cuban as an advocate for their interests,” Pospieszalski told Cryptonews. “[Harris’] recent engagement feels like a ‘me too’ effort, following RFK Jr. and Trump.”

“Meanwhile, Mark Cuban seems to endorse whatever is left standing. Not long ago, he supported Joe Biden, even though many have since distanced themselves from Biden after the primaries. That endorsement seemed questionable even for Cuban,” he added.

Harris Campaign Promises Crypto Growth, But Some Remain Doubtful

Meanwhile, a senior campaign adviser has stated that Harris will back initiatives intended to grow the crypto sector. Her adviser Brian Nelson said that “she’s going to support policies that ensure that emerging technologies and that sort of industry can continue to grow.”

But, Pospieszalski stated that merely referencing crypto doesn’t persuade anyone that Harris understands the industry. Nor does it mean she is capable of effectively regulating it, he said.

“The Harris campaign seems unprepared, despite having had four years to anticipate the possibility of Joe Biden’s resignation. If they wanted to genuinely support cryptocurrency, they had an entire vice presidency to do so,” he said.

According to the exec, the Harris campaign’s recent actions seem more like an effort to say what’s needed to win votes, rather than genuinely engaging with the crypto community.