Untangling Web3 podcast

#75 Untangling: The Crypto Election

30/10/2024
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40:37
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With the U.S. election just around the corner, today we delve into how cryptocurrency is influencing the political landscape as Donald Trump and Kamala Harris go head-to-head.

Dubbed “America’s Crypto Election,” this campaign season has seen a record-breaking $120 million in donations from the crypto industry, sparking discussions on how each candidate’s stance could impact Bitcoin, blockchain regulation, and the broader crypto ecosystem.

Join us as we explore what a Trump or Harris presidency could mean for the future of digital assets and decentralized finance.

Key highlights:

  • Crypto’s Growing Influence on Politics: The crypto industry’s impact on the election is undeniable, with major donations flowing to both candidates. This unprecedented involvement signals how significant digital assets have become in shaping public policy. We discuss the history and evolution of crypto’s role in U.S. politics and the implications of such substantial contributions, especially from high-profile donors and advocates like Sam Bankman-Fried and Robert Kennedy Jr.
  • Candidate Stances on Bitcoin and Regulation: Donald Trump has openly supported Bitcoin, branding it “freedom money,” and promising a light regulatory approach. His running mate, JD Vance, also demonstrates a solid understanding of blockchain technology. Meanwhile, Harris leans toward cautious regulation, supporting crypto innovation but with protections for consumers and capital gains tax increases for high-value holdings. Each candidate’s stance reflects broader ideological divides on the government’s role in financial autonomy and innovation.
  • Geopolitical and Economic Considerations: Beyond domestic policy, the U.S. must consider crypto’s role on the global stage. With nations like Russia and Iran exploring Bitcoin as a settlement currency, the U.S. faces the challenge of maintaining the dollar’s dominance or embracing digital assets to secure its influence. Trump’s pro-mining stance contrasts with Harris’s focus on sustainability, and each candidate’s approach could shape America’s economic role in a blockchain-driven world.

As the U.S. election nears, the crypto industry stands at a critical juncture. Both candidates recognize the importance of digital assets, but with markedly different approaches.

A Trump presidency promises robust support for Bitcoin and relaxed regulations, while Harris’s administration might lean toward cautious oversight and consumer protections. This election could define crypto’s future in the U.S. and beyond.

Learn more about Web3 at:

https://untanglingweb3.com/

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Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at [email protected].

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The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.

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