Kamala Harris May Drive US Crypto Firms Abroad

Kamala Harris Crypto News: Crypto firms may be pushed abroad

On September 18, Alex Svanevik, the CEO of blockchain analytics platform Nansen, shared his thoughts on the upcoming 2024 US presidential election and its potential impact on the cryptocurrency industry. Svanevik discussed how the outcome of the election, whether it’s a victory for Donald Trump or Kamala Harris, could shape the future of crypto in the United States and globally.

Trump’s Win Seen as Bullish for US Crypto

Svanevik expressed his belief that a Trump victory would be favorable for the cryptocurrency industry in the US, describing Trump as the “most pro-crypto candidate.” He mentioned that Trump’s past involvement in crypto-related projects and his general support for the sector could lead to a more welcoming environment for digital currencies in the country. According to Svanevik, if Trump wins, it could lead to a “bullish” future for crypto businesses within the US, boosting the sector’s growth.

Kamala Harris Win Could Push Crypto Abroad

On the other hand, Svanevik noted that if Kamala Harris wins, it might create a less favorable environment for crypto in the US, potentially continuing the current administration’s more cautious stance toward digital assets. However, he pointed out that a Harris presidency could have a silver lining for the global crypto scene, as it might encourage companies to move their operations outside the US. Svanevik shared that some crypto founders have already expressed intentions to relocate if Harris becomes president, which could benefit crypto markets abroad.

Trump’s Mixed History with Crypto

Although Trump is now considered pro-crypto, it’s worth remembering that in 2019 he expressed skepticism about Bitcoin and other digital currencies, claiming they were “based on thin air.” More recently, his decision to launch a WLFI token through his World Liberty Financial Project sparked backlash from some in the crypto community, with some supporters feeling disappointed by the timing and perceived risks of the project.

Also Read: Kamala Harris Crypto Boosts And Trump Crypto Drops After Debate