Cryptocurrency investors and industry leaders, advocating a more favourable regulatory environment, are planning to raise at least $100,000 for Vice President Kamala Harris at a fundraiser in Washington, D.C., on September 13.
The event, strategically scheduled between the Congressional Black Caucus and Congressional Hispanic Caucus conferences, aims to attract a diverse group of donors, according to the organizers.
The executive director of the Blockchain Foundation and one of the event’s organizers, Cleve Mesidor said that tickets range from $500 to $5,000.
While the fundraising goal is modest compared to the significant sums Harris has accumulated since becoming the Democratic presidential nominee following President Joe Biden’s withdrawal from the race, it signals growing support from the crypto sector.
This support comes as the industry seeks an ally against the more stringent regulatory stance that has been adopted under the Biden administration.
The fundraiser’s organizers, including Tiffany Smith, co-chair of the Blockchain & Cryptocurrency Working Group at law firm WilmerHale, and Rahilla Zafar, a crypto entrepreneur and AI expert, hope Harris will adopt a more lenient approach toward cryptocurrency regulation.
The industry’s appeal comes after the Securities and Exchange Commission (SEC) under the Biden administration cracked down on several crypto firms, alleging violations of securities laws—a claim the industry contests.
“Why not seize on the first fundraiser—which there will be many others—to make a statement about what crypto means for Democrats as a potentially new administration contemplates how to view this sector?” Mesidor remarked.
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She expressed hope that the event would foster dialogue on how a Harris administration might promote innovation in the crypto space and increase access to capital for people of color.
“We wanted to ensure that with the change in the Democratic presidential nominee, we showed our support and helped Harris understand the significance of this industry,” Smith of WilmerHale stated.
While the organizing group has no official affiliation with Harris’s campaign, their efforts reflect a broader strategy within the crypto community to shape future policy. Another group, Crypto4Harris, has emerged, planning additional fundraisers for Harris.
The group recently held a town hall featuring billionaire Mark Cuban and financier Anthony Scaramucci, both of whom endorsed Harris.
Although Harris has not yet articulated a public stance on cryptocurrency, her campaign staff has met with representatives from major crypto firms, including Coinbase and Ripple, according to prior reports from Reuters.
These companies, along with other key players in the crypto space, are contributing to pro-crypto candidates in both Democratic and Republican congressional races through super PACs, reflecting a non-partisan approach to political influence.
Brian Nelson, a senior adviser to the Harris campaign, indicated at a Democratic National Convention event that Harris would back the growth of emerging technologies. This statement has been viewed positively by many in the crypto industry, suggesting that Harris could be open to engaging with the sector’s concerns.
“Harris has a golden opportunity to lay out a vision that could sway many voters from the crypto industry,” said Zafar, highlighting the potential for Harris to gain substantial support from this rapidly growing sector.
