Ripple CEO and industry voices advocate for bipartisan crypto approach in 2024 Ripple CEO and industry voices advocate for bipartisan crypto approach in 2024
Crypto advocates push for bipartisan approach as November election looms.
2 min read
Updated: Jul. 25, 2024 at 11:55 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto stakeholders are increasingly urging the industry to remain bipartisan as the November presidential election nears.
There is no doubt that digital assets are gaining importance among voters, with over 50 million Americans involved in the sector and 14% holding Bitcoin. Despite this, many industry leaders support Republican candidate Donald Trump, citing his pro-crypto stance as beneficial for the sector’s growth.
Conversely, the Democratic party has faced criticism for its strict regulatory approach under President Joe Biden. However, with Biden out of the race and Vice President Kamala Harris likely to be the candidate, some stakeholders are now advocating for a more balanced view.
Open-minded
On July 24, former White House Communications Director Anthony Scaramucci emphasized the need for bipartisanship in crypto, pointing out that it will be healthier for the ecosystem in the long run.
Scaramucci noted that Harris has shown support for the crypto sector and suggested that significant changes would occur under her administration. He said:
“Harris is open-minded about crypto. She did not call the shots on crypto policy in Biden admin. Harris and Warren are not friendly. Gensler will be fired and Warren will be sidelined as Financial Services Czar in a Harris admin. Let’s keep crypto bipartisan, it will be healthier for the ecosystem in the long run.”
Ripple CEO Brad Garlinghouse also expressed openness toward Harris’s potential crypto policies. He advised against judging candidates solely on party affiliation and emphasized the importance of their policy proposals.
Garlinghouse highlighted Harris’s Silicon Valley background, suggesting it could lead to beneficial crypto regulations and boost US competitiveness. However, he cautioned that aligning too closely with crypto-skeptic Senator Elizabeth Warren could be problematic.
Garlinghouse stated:
“Jumping to conclusions and assumptions about candidates purely based on political affiliation without any policy proposals is holding the crypto industry back (similar to how tribalism has for years).”
Adam Cochran, partner at Cinneamhain Ventures, criticized the crypto community for attacking Democrats despite their efforts to engage with the industry. He stressed the importance of working with anyone proposing constructive crypto policies, regardless of political affiliation.
Cochran commented:
“We should continue to work with anyone who reaches out to try and move constructive crypto policy forward on both sides of the aisle…and if all this industry gives back is a cold shoulder, we give them no reason to not go work with anti-crypto people, or regulatory capture folks.”
Mentioned in this article
Bitcoin 
Ripple 
Donald Trump 
Joe Biden 
Anthony Scaramucci 
Brad Garlinghouse 
Adam Cochran 
Elizabeth Warren 
Kamala Harris Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
Donald John Trump was born on June 14, 1946, in Queens, New York City.
Joe Biden, byname of Joseph Robinette Biden Jr., is an American politician and the 46th and current president of the United States.
Anthony Scaramucci is an acclaimed American entrepreneur and political consultant, making headlines for his fleeting role as the White House Director of Communications from July 21 to July 31, 2017.
Brad Garlinghouse stands at the forefront of financial technology as the CEO of Ripple.
Elizabeth Warren is an American politician and former academic known for being fiercely anti-Bitcoin and anti-crypto.
Kamala Devi Harris (born October 20, 1964) is an American politician and attorney serving as the 49th Vice President of the United States.