Crypto Industry Shifts Focus to US Congressional Races as Election Approaches

Bitcoin Election Ethereum
The nation braces for pivotal decisions on its House of Representatives, Senate, and the Presidency.
Last updated:
Author
Author
Ruholamin Haqshanas
About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships.

The crypto industry has pivoted its attention to the potential implications of the upcoming US Congressional races.

As the nation braces for pivotal decisions on its House of Representatives, Senate, and the Presidency, the digital assets industry finds itself entwined with politics and regulation.

Throughout October, key industry players congregated at two significant events: the Permissionless III conference in Salt Lake City, Utah, and Ripple Swell in Miami, Florida.

Panels at these gatherings delved deep into discussions that not only forecasted the electoral battle between Democrat Kamala Harris and Republican Donald Trump for the US presidency but also speculated on how the crypto landscape could evolve by 2025.

Executives at these events showcased a keen interest in the intersection of digital assets and US politics, emphasizing that cryptocurrencies have now become a mainstream concern unlike ever before.

“Every single panel is talking about regulations,” Ripple’s head of US public policy, Lauren Belive, said.

Belive argued that the industry’s trajectory in 2024 stands in stark contrast to the landscape during the US midterms in 2022 and the 2020 elections.

Under Trump’s previous administration, Bitcoin faced skepticism, with the former president branding it as “thin air” and a “scam.”

However, both current major party candidates have signaled a willingness to support the crypto sector if elected, signaling a significant departure from past rhetoric.

The growing willingness of lawmakers to engage with digital assets, evident in their participation at crypto-centric events.

Trump’s keynote address at the Bitcoin 2024 conference and the active involvement of presidential candidates and lawmakers at events like the North American Blockchain Summit underscore the increasing significance of cryptocurrencies in the political sphere.

Market predictions add another layer of intrigue to the electoral landscape.

Platforms like Polymarket suggest a 60% likelihood of Trump securing the presidency, while the Kalshi marketplace places Republicans’ odds of seizing control of the House, Senate, and the Presidency at 42%.

16% of Voters Prioritize Pro-Crypto Candidates

A recent survey by the Chamber of Digital Commerce, now known as The Digital Chamber, has revealed that approximately 26 million American voters consider a candidate’s stance on cryptocurrency to be a key factor in their voting decisions for the upcoming 2024 elections.

According to the survey, around 16% of 1,004 respondents identified pro-crypto policies as “extremely” or “very” important when selecting a candidate.

These voters are part of what the report calls a “crypto voting bloc,” showing a strong inclination toward candidates who support cryptocurrency initiatives.

Another survey conducted by Fairleigh Dickinson University’s (FDU) Poll revealed that crypto owners are more inclined to support former President Donald Trump, while those without digital assets lean towards Vice President Kamala Harris.

The survey, led by Dan Cassino, professor of government and politics and executive director of the FDU Poll, found that among these, 50% support Trump, who has recently become a vocal advocate for digital currencies.

In contrast, only 38% of crypto holders back Harris.

More Articles

Bitcoin News
Microsoft Shareholders Vote Down Bitcoin Proposal as Treasury Holdings
Hassan Shittu
Hassan Shittu
2024-12-10 18:52:37
Bitcoin News
Bitwise Releases 2025 Crypto Predictions: Bitcoin to $200,000
Hongji Feng
Hongji Feng
2024-12-10 17:59:50
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors