Crypto community plans fundraiser for Kamala Harris presidential bid

The crypto community is organising a fundraiser for Vice President Kamala Harris, aiming to raise $100,000 to support her presidential campaign.

Scheduled for September 13 in Washington, the event will take place between the Congressional Black Caucus and Congressional Hispanic Caucus conferences.

Ticket prices range from $500 to $5,000, with the fundraiser expected to draw crypto donors showing support for Harris, despite uncertainties about her stance on crypto regulation.

The $100,000 fundraising goal, reported by Reuters, is modest compared to larger amounts Harris has raised since becoming the Democratic nominee in July.

However, this effort signals some backing from the crypto sector for Harris, contrasting with support for Republican nominee Donald Trump, who has drawn crypto donors with his more favorable policies toward the industry.

Organizer Tiffany Smith explained the motivation behind the event, saying, “We wanted to make sure that with the change in the presidential nominee for the Democrats, that we were supportive and we came together to help her understand the importance of this industry.”

Despite some backing within the community, many crypto stakeholders remain cautious about Harris's potential approach to the industry.

Concerns arise from the current regulatory environment under the Biden administration, where Harris serves as Vice President.

The Securities and Exchange Commission (SEC) has been criticised for its tough stance, including recent actions like issuing a Wells Notice to the NFT marketplace OpenSea.

Nevertheless, Harris's campaign has demonstrated some openness to the crypto sector.

Her team has held meetings with key industry figures, including Coinbase and Ripple.

At the Democratic National Convention, senior adviser Brian Nelson suggested that a Harris administration could support the growth of emerging technologies.

Brian Quintenz, Global Head of Policy at a16z, stressed the need for Harris to clarify her stance, urging her to outline how her administration would foster innovation while ensuring consumer protection.