Joe Biden’s administration has done everything possible to destroy the crypto industry. That gives crypto advocates just one choice in the 2024 election.
, alliances were often short-lived and fluid. Many of the great houses changed alliances as their never-ending quest for power continued.
Silicon Valley and other tech entrepreneurs have historically voted for progressives. However, President Biden’s administration has been openly hostile to tech generally and to crypto in particular. At the same time, some crypto advocates say that they can’t bring themselves to vote for former President Trump despite his recent and open embrace of crypto. Some question whether he will follow through on his rhetoric.It is true that a politician won’t necessarily live up to campaign promises.
The Trump administration’s history with crypto is more positive. His nominee for CFTC chairman, Chris Giancarlo, was nicknamed “Crypto Dad.” His nominee for SEC commissioner, Hester Peirce, was nicknamed “Crypto Mom.” And his nominee for CFTC chairman, Heath Tarbert, now works as general counsel at Circle. Overall, Trump’s nominees were pro-innovation generally, and pro-crypto specifically.
In a political debate at the Consensus crypto conference in May, Messari founder Ryan Selkis compared Democratic candidates reaching to crypto advocates in this election to cheating spouses caught in the act. They might profess regret and love, and it may work out that way in the long term, such that crypto policy could one day become bipartisan.
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