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Who Are Trump’s Cryptocurrency Allies? Who’s Opposing Him? Industry Wizards From Both Parties Perform in Presidential Race – DL News
- Trump embraced cryptocurrencies during the election campaign.
- Biden is changing his administration’s hard line on the industry.
- Cryptocurrency industry leaders are on both sides of the fence.
With cryptocurrencies emerging as a surprise issue in the 2024 US presidential election, influential figures in the industry are coming out in support of and against Donald Trump.
The former president and presumptive Republican Party nominee has just agreed to speak at a Bitcoin conference in Nashville, Tennessee.
Meanwhile, President Joe Biden is changing course a more open position on digital assets after his administration cracked down on the sector.
But that doesn’t mean the cryptocurrency elite is rallying behind the current Oval Office resident.
Here’s a snapshot of who’s who in each party’s corner:
The pro-Trump camp
Ryan Selkis
Co-founder and CEO of Messari
As one of the former president’s most vocal supporters in the cryptocurrency industry, Selkis’ X-Feed has become a must-read for many in the industry.
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He is a major fundraiser for FairShake, a cryptocurrency super PAC that has raised nearly $180 million to support pro-crypto candidates.
As a guest of honor at Trump’s Mar-a-Lago estate in Florida, Selkis drew Trump’s attention to cryptocurrency policy and received a special mention.
Jesse Powell
Co-founder of Kraken
After co-founding Kraken in 2011, Powell emerged as a major influencer in the early days of Bitcoin and the digital asset market.
In June, Powell, now chairman of Kraken’s board, donated $1 million, mostly in Ether, to Trump’s campaign.
“I am thrilled to join other leaders in our community to unite behind the only pro-crypto major party candidate in the 2024 presidential election,” he said. published on X.
Tyler and Cameron Winklevoss
Founders of the Gemini
Billionaire twins Tyler and Cameron Winklevoss were early investors in Bitcoin and founded their own cryptocurrency exchange and custodian, Gemini.
The two, who rose to fame after suing Mark Zuckberg for allegedly stealing their idea for Facebook, each donated $1 million in bitcoin to Trump’s campaign in June.
“President Donald J. Trump is the pro-Bitcoin, pro-crypto, pro-business choice,” Tyler published on X. “This is not even remotely a matter of debate.”
The anti-Trump camp
Cuban Mark
Informal investor and TV personality
The Shark Tank celebrity and billionaire investor has supported a number of cryptographic projects, including OpenSea, Polygon, and Arbitrum.
The Cuban once said he would support Biden, even on his deathbed, dismissed Trump as an “elixir salesman.”
Now, after the president’s poorly received performance in the June debate, he said it was It’s worth considering a replacement for the Democratic Party candidacy.
Anthony Scaramucci
Founder of SkyBridge Capital and the SALT conference
Scaramucci, a hedge fund manager and former Goldman Sachs employee, has been a big cryptocurrency investor for several years and has partnered closely with Sam Bankman-Fried and FTX.
After serving as Trump’s White House communications director for just 10 daysScaramucci is now opposing his former boss and has urged voters to support Biden. The former GOP member has said a second Trump term would usher in a “dystopian” era ruled by “anarcho-Christian nationalists”.
Lately dodged a question about whether he thinks Biden should resign. But he said he would support any Democrat over Trump.
Mike Novogratz
CEO of Galaxy Digital
Known as “Novo,” the billionaire CEO of cryptocurrency giant Galaxy Digital is a registered Democrat and has expressed optimism that the Biden administration is changing its hard line on the cryptocurrency industry.
After his debate performance, Biden called on the president to step aside as the Democratic Party’s nominee.
He is one of a kind number donors who contributed $2 million to party candidates who urged the current president to resign. “End the gerontocracy,” he published on X.
Ben Weiss is a Dubai-based correspondent at DL NewsHave a suggestion? Email him at bweiss@dlnews.com.