Crypto’s Defining Moments Ahead of the US Election

While Bitcoin won’t be on the ballot this Election Day, it’s hard to deny digital assets’ hold over US politics this election cycle.

From US congressmen’s public powwows with crypto industry leaders, to Trump’s launch of the DeFi project, to promises by both presidential candidates to support new regulations for the digital asset industry, crypto has dominated media headlines and echoed on social media platforms.

Here’s a rundown of the crypto industry’s most important milestones ahead of Tuesday’s election day.

Trump NFT Mar-a-Lago Event

Donald Trump drew cheers from a cryptocurrency-friendly crowd in May as he promised to keep digital asset companies in the United States during an event for the latest NFT collection at Mar-a-Lago.

The former president’s vow to protect the burgeoning crypto industry in the US came in response to a question from an NFT builder from the prominent DeGods project, who presented a pair of Pit Viper shades at the evening.

The meme-ified moment caught fire on social media, reinforcing positive feelings about the future of US crypto regulation and policy among some cryptocurrency enthusiasts. Despite the silliness of the moment, some hailed it as a turning point for crypto in politics.

Republicans put Bitcoin on the party platform

GOP rallied behind Donald Trump’s crypto pivot in early July, vowing to “defend the right to mine Bitcoin” and crypto self-custody. in his party platform.

The Republican National Committee’s manifesto also expressed broader support for digital asset companies, promising to end an “illegal and un-American crackdown” on the US crypto industry.

Trump and RFK Jr. Talk Bitcoin at BTC Nashville

Donald Trump promised that create a strategic Bitcoin stockpile for the US Federal Reserve if elected, during a speech at BTC Nashville on July 27. He also promised to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler and put in place partial crypto regulators.

Meanwhile, independent presidential candidate Robert F. Kennedy Jr. (RFK Jr.) offered a more nuanced and detailed plan to promote Bitcoin during a separate event at the same conference. However, RFK suspended his campaign and threw his support behind Trump.

World Liberty Financial disclosure

The Trump Organization revealed in August that it would be venturing into another crypto-related venture.

Details of the business, a DeFi platform called World Liberty Financial (formerly The DeFiant Ones), remained largely unclear at the time. However, Trump promised the project would free the “ordinary American” from the “big banks and financial elites” in a post on Truth Social.

The announcement was met with excitement among users on Crypto Twitter, but also invited questions about potential conflicts of interest created by Trump’s deepening connection to the crypto industry ahead of his potential re-election.

trump card shared more details about the project in a September live interview with Rug Radio, decryptsits sister company and hosted a token sale in October I saw average demand.

decrypts also reported in October that World Liberty Financial plans to issue its own stable currencyciting sources familiar with his plans.

Crypto4Harris Roundtable

Senator Chuck Schumer (D-NY) has promised to pass legislation that provides clear regulatory guardrails for the US crypto industry within a grassroots organization. digital town hall meeting for Democratic presidential candidate Kamala Harris in August.

The 90-minute Crypto4Harris live stream brought together several Democratic US Congressmen, such as Wiley Nickel, a number of key players in the crypto industry, and billionaire investor and entrepreneur Mark Cuban. The event marked one of the first public displays of solidarity between American Democrats and digital asset companies.

Trump means speculation – and scams

In August, cryptocurrency holders expressed excitement over the Trump family’s plans to launch a DeFi platform called the World Liberty Project. But their enthusiasm died down when The WLF faced the world’s biggest scourge of decentralized finance— scammers.

In early September, scammers created several fake pages for the long-awaited project. The links were promoted on the social media accounts of several Trump family members, which appeared to be hacked.

The confusion led some potential WLF investors to click on malicious links and lose their crypto holdings. Scams marred the launch of the DeFi project, which saw poor participation and token sales.

Further complicating matters were conflicting claims as to whether the DJT token was ultimately an “official” Trump coin created with the help of Donald’s son Barron Trump. as “PharmaBro” Martin Shkreli claimed. However, this has never been proven, and former Trump ally Roger Stone has said that it was not a legitimate Trump project.

Trump buys burgers with Bitcoin in New York

trump card bought a round of burgers with Bitcoin in September at PubKey, a BTC-themed bar in Manhattan. The campaign stunt came months after the Republican candidate spoke at Bitcoin Nashville.

In videos shared from the bar, he used a smartphone to make the purchase using Bitcoin. Then he moved on to call them “crypto burgers” in a potential misstep as Bitcoiners tried to correct him, but none of the BTC die-hards seem to hold it against him.

Harris finally mentions blockchain

Vice President Kamala Harris broke his silence on crypto at The Economic Club of Pittsburgh in September, surprising her supporters and detractors.

The Democratic presidential candidate said in a speech that her administration will fight to help the US “remain dominant in AI and quantum computing, blockchain and other emerging technologies.”

The public comments came about a week after Harris reportedly spoke about digital assets to donors at a fundraising event for her campaign.

Her acknowledgment of the crypto industry also came shortly after the vice president’s senior campaign adviser for policy said at the Democratic National Convention that Harris’ administration would support emerging technologies.

Harris Unveils Regulatory Plans Targeting Black Men

Harris’ campaign caused a stir on social media for promising to support new regulations on digital assets in the US as part of official strategy to target black voters.

In a platform called “Kamala Harris Will Deliver for Black Men,” the Harris campaign said it would support “a regulatory framework for cryptocurrencies and other digital assets so that black men who invest in and own these assets are protected.”

The platform was met with a mix of derision and praise on social media, with some Crypto Twitter users criticizing the campaign’s use of identity politics.

Other detractors questioned the platform’s decision to single out black men, raising questions about how much black voters care about crypto as an election issue. The campaign eventually clarified that such plans would be pursued without specific race-related limits.

Edited by Sebastian Sinclair and Andrew Hayward