The Cryptocurrency Enthusiasts’ Electoral Crisis
Following successive waves of news about the interesting support from a group of cryptocurrency activists for Trump and their invitation to him for the large and famous Bitcoin conference, attention has been drawn to the role of these activists in electoral equations, particularly their role in financially supporting candidates from the two major U.S. parties. Previously, we discussed the specific actions of the famous cryptocurrency enthusiasts’ super PAC and Trump’s new plan to profit in this field. A few months have passed since Trump’s change of stance on cryptocurrencies, and he, who was once a staunch opponent and indeed a longstanding enemy of cryptocurrency enthusiasts, has joined their ranks. We previously recounted that this trend essentially became serious with a small group of cryptocurrency activists infiltrating Trump’s circle on one hand, and J.D. Vance’s plan to win Trump’s favor, and more importantly, that of his children, by bringing cryptocurrency money into their campaign and accounts. One of the main reasons for the support of Trump’s two sons for Vance and elevating him to the position of Trump’s chosen deputy was precisely this issue of cryptocurrency interests. In any case, the famous cryptocurrency enthusiasts’ super PAC and various groups of these activists who have supported different candidates in various competitions have taken a bipartisan approach, which we previously narrated. Now, new dangers have arisen that are concerning for these activists themselves. Some of the most prominent figures in the cryptocurrency field, worried about the inclination of certain factions towards the far-right, have abandoned this super PAC. On the other hand, some notable Democratic figures, like Ro Khanna, a progressive Democratic representative who, despite his various social and political positions appearing distant from the world of cryptocurrencies, has strong ties with Silicon Valley and extensive lobbying with activists in this field. Support from a specific segment of young cryptocurrency enthusiasts for Harris has also improved the Democrats’ position in this area. The key point in these developments is the realization that Harris can no longer be depicted as an opponent, or simply put, an enemy of cryptocurrencies. What has compounded the new concerns of cryptocurrency activists is the very fact of Trump’s entry into this field and his new business ventures. After the accounts of his family members were hacked and the hackers invited people to invest in a specific area, cryptocurrency enthusiasts concluded that if what Trump’s children promised about this family’s activities in digital transactions was concerning in itself, as always, Trump’s ventures and businesses do not have a solid structure. Thus, the politicization of the cryptocurrency issue has become a crisis. The laws proposed by a specific and bipartisan group of House representatives have not made much progress. The action of the cryptocurrency enthusiasts’ super PAC to assist the opponent of Senator Sherrod Brown, the influential Democratic chairman of the Senate Banking Committee, has also caused other activists in the cryptocurrency field to worry about the future. Perhaps in the two months remaining until the elections, we will witness intense and public tensions among the different factions of cryptocurrency enthusiasts in the electoral political arena.
