BTC continues to show volatility, and the situation for altcoins is not very bright. However, Trump remains promising. Favorite US Presidential Candidate Trump was much stronger against his previous rival Biden, but Harris changed the balance. The first potential female president story and Trump’s tarnished reputation in courtrooms are against the Republicans. However, Trump continues to strive to attract crypto investors.
Trump and the New Crypto Move
According to an announcement released by his team today, Cantor Fitzgerald CEO Howard Lutnick and World Wrestling Entertainment co-founder Linda McMahon will be put in charge of managing staff if the Republican candidate wins. Lutnick and McMahon are among the biggest donors, with billions of dollars in wealth.
Cantor Fitzgerald has been responsible for managing the treasury portfolio of the stablecoin issuer Tether since 2021. The company also holds millions of dollars worth of BTC ETF. Lutnick is a clear advocate of Bitcoin and made an impressive speech at the Bitcoin 2024 conference.
Paradigm government affairs head Alex Grieve commented on the latest development:
“Howard Lutnick’s involvement is a huge step for crypto. Last year, he personally briefed the House Republican Conference on stablecoins and is a major crypto bull.”
Harris and Trump
The race between Democrats and Republicans will not be easy. Although the votes are close, Harris has increased her vote share despite trailing. Millions of crypto investor voters are curious about how the election results will be affected. We have seen that pro-crypto promises worked in South Korea and some other countries. This could be much more effective for the US because the number of people interested in crypto is not negligible.
While Trump clearly shows a positive stance on cryptocurrencies, Harris and her team have not taken any steps. However, a significant portion of Democrats says clear rules need to be established in this area, and some Democrats have also voted in favor of crypto in certain votes. There are roughly 81 days left until the November elections, and both candidates are progressing with equal votes nationwide. Harris adopting a pro-crypto stance could break the tie in her favor without losing votes.
