Top crypto firms in the US, including Coinbase, Ripple, and Andreessen Horowitz, are sending delegations to the Republican National Convention in Milwaukee to promote a pro-crypto legislative and regulatory agenda. This move comes as the 2024 presidential campaign heats up, with the Republican Party and its presumptive nominee Donald Trump courting the digital asset vote. The Republican National Committee recently released a new party platform promising to support crypto and oppose the creation of a central bank digital currency (CBDC), aligning with Trump’s positioning as the crypto-friendly candidate.
In addition to attending the Republican National Convention, the same crypto companies reportedly plan to send representatives to the Democratic National Convention in Chicago next month. This highlights the increasing interest in cryptocurrency and blockchain technology among lawmakers and political figures. Despite Trump’s past criticism of digital assets, his 2024 presidential campaign has started accepting crypto donations, receiving a significant amount in Bitcoin from Gemini crypto exchange co-founders Tyler and Cameron Winklevoss. However, Trump faces legal challenges as a jury recently found him guilty on 34 felony counts related to falsifying business records ahead of the 2016 presidential election.
The participation of top crypto firms in political conventions signals a growing intersection between the digital asset industry and mainstream politics in the US. As more lawmakers acknowledge the importance of regulating and supporting cryptocurrencies, these companies are leveraging their influence to shape future legislative decisions. With the upcoming elections, the stance of political parties and candidates on crypto-related issues is becoming increasingly crucial, highlighting the significance of this engagement between the crypto sector and the political landscape.
