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Although Donald Trump has received widespread support from the crypto community, many in the crypto industry also support Kamala Harris.
The 2024 US presidential election has generated significant support from the cryptocurrency industry, with several executives and entrepreneurs expressing their support for the two candidates.
The Republican candidate, former President Donald Trump, has received strong support from the cryptocurrency community, while the Democratic candidate, current Vice President Kamala Harris, has also received notable support.
As the November 5th election approaches, Cointelegraph has reviewed the public support for the two candidates in the cryptocurrency space.
Trump Leads in Crypto-Related Support
Trump is known for his dramatic turnaround on the Bitcoin BTC issue in recent years, and he has received significantly more crypto-related support than Harris.
One possible reason is that Harris joined the race later, securing the Democratic nomination in July. In contrast, Trump announced his candidacy nearly two years before the election, in November 2022.
One of Trump's early supporters was Jeremy Kauffman, the founder of the blockchain file-sharing network LBRY, in May 2024.
Crypto executives and investors support Donald Trump and Kamala Harris
In comparison, Harris received her first crypto-related support a few months later, with former Uphold CEO JP Thieriot expressing his support for her in August 2024. John O'Farrell, a general partner at the crypto-friendly venture capital firm Andreessen Horowitz (a16z), also endorsed Harris in August.
Crypto Executives and Investors Support Trump
Trump has received support from prominent figures in the cryptocurrency industry, including executives from major exchanges like Kraken and Gemini.
In June, Gemini founders Cameron Winklevoss and Tyler Winklevoss pledged $2 million in Bitcoin to support Trump's re-election, in recognition of his "pro-crypto" stance.
Also in June, Kraken co-founder Jesse Powell announced a $1 million donation to Trump, calling him the "only major party candidate supporting cryptocurrency."
Source: Jesse Powell
Cathie Wood, the founder of ARK Invest and a major Bitcoin bull, also publicly supported Trump in June, believing that BTC will one day trade at $1 million per coin.
Elon Musk's electric vehicle company Tesla has invested over $700 million in Bitcoin, and he supports Trump, recently attending several rallies held by the former president.
Other well-known Trump supporters in the industry include Cardano founder Charles Hoskinson, BitGo CEO Mike Belshe, TRON founder Justin Sun, Bitcoin Foundation founder Charlie Shrem, Bitcoin advocate and entrepreneur Robert Kiyosaki, and Messari co-founder Ryan Selkis.
Several prominent venture capitalists and business leaders also support Trump, including former PayPal president David Marcus, Sequoia Capital's Douglas Leone, and Andreessen Horowitz co-founder Marc Andreessen.
Despite a Late Start, Harris Gains Crypto Support
Despite a later start, Harris has also received support from several crypto industry executives. On September 23rd, she broke her silence on crypto policy, expressing support for the industry while emphasizing consumer protection.
Harris has gained the support of key figures in the crypto community, with Ripple co-founder Chris Larsen signing a letter in support of her in early September.
Blockchain Foundation executive director Cleve Mesidor also supports Harris and announced a $100,000 fundraising effort for the presidential candidate in September.
Laura Shin, the founder of the Unchained podcast, also expressed her support for Harris in an October article in Time magazine, urging the Democratic candidate to not only "embrace cryptocurrency" but also "help crypto thrive."
Billionaire venture capitalist and active crypto investor Mark Cuban has emerged as one of Harris' biggest supporters, believing that Trump's second term would be "worse" than his first. Cuban reportedly claims he has not "given a dime" to Harris' campaign.
Source: Newsweek
Executives from some crypto-friendly VC firms, such as a16z and SkyBridge Capital, also support Kamala. In August, a16z's John O'Farrell pledged to vote for Harris. In September, SkyBridge Capital's Anthony Scaramucci stated that he is "working with" Harris to develop the campaign's crypto policy, claiming the process is moving in the "right direction."
Whoever Wins?
Some crypto executives have avoided supporting either candidate, insisting that the growth of the cryptocurrency industry is inevitable regardless of who wins the election.
Renowned industry investor Tim Draper disclosed donations to the presidential campaigns of both Harris and Trump in October, stating that he believes "both candidates have good intentions."
In August, Coinbase CEO Brian Armstrong stated that the new US administration, regardless of which party wins, will take a "constructive" approach to cryptocurrency.
According to industry enthusiasts like Quantum Economics founder Mati Greenspan, this approach is "part of the popular Bitcoin mantra that regulation doesn't matter, to encourage crypto people to think it's okay to vote for Harris."
Greenspan stated: "While it's true that no one can stop Bitcoin, it's clear that a president who knows what an ICO feels like would be very beneficial for the industry."
On social media, the community has expressed some support for Greenspan's electoral stance. A poll conducted by MicroStrategy founder Michael Saylor on October 27th showed that 90% of the 100,000 respondents chose Trump as the better supporter of Bitcoin.
Michael Saylor's poll shows which presidential candidate is more favorable for Bitcoin. Source: Michael Saylor
