Will A Thinned-Out Market Be The Basis
Crypto leaders spoke with Democratic leaders and a senior advisor to President Biden on Wednesday. Pixabay

KEY POINTS

  • Kristin Smith said she shared with attendees, among them Democratic leaders, that 'the crypto voter is real'
  • Ripple's CEO hoped the roundtable was the first step in 'moving from words to actual action'
  • Sen. Welch on Wednesday became the first Dem senator to call on Biden to withdraw from the presidential race

The presidential race is heating up, and cryptocurrency, which is fast becoming a central topic among candidates, took the spotlight Wednesday morning at a roundtable in Washington, D.C. that saw the attendance of some crypto leaders and an advisor to President Joe Biden.

Rep. Ro Khanna, D-Calif., hosted the roundtable, with senior advisor to the President, Anita Dunn, also attending the meeting. Sen. Kirsten Gillibrand, D-N.Y., and Rep. Joe Neguse, D-Colo., were also present.

Anthony Scaramucci: American financier

Scaramucci attended the roundtable, and expressed gratitude to Khanna and crypto advocate Mark Cuban "for a great day." He said he was looking forward to "positive bipartisan legislation and regulation for digital assets and property."

Kristin Smith: Blockchain Association executive director

Smith shared the key points of the crypto industry that she discussed during the roundtable, including the narrative that "the crypto voter is real."

Brad Garlinghouse: Ripple CEO

Garlinghouse said that while he hopes the roundtable was "the first step in moving from words to actual action," the majority of Democratic politicians "continue to enable [U.S. Securities and Exchange Commission Chair Gary] Gensler's unlawful war on crypto – sabotaging the ability for American innovation to thrive."

Paul Grewal: Coinbase chief legal officer

Grewal said the Wednesday meeting was "productive," and he believes officials who attended "heard clearly and engaged on the need for legislation – not more litigation."

Sheila Warren: Crypto Council for Innovation CEO

Warren revealed that the meeting made it clear that attendees understood "the importance and opportunity crypto provides." She said she left the roundtable feeling hopeful for further conversations on the industry, considering that the technology around digital assets, like all other technologies, should be "approached in a nonpartisan manner."

The Biden administration has been called out multiple times by key figures from the crypto space, often pointing out the "enforcement first" nature of the SEC's approach toward digital assets. However, he has bigger problems outside the crypto realm.

The roundtable was held on the same day Sen. Peter Welch of Vermont became the first Dem senator to publicly call for Biden's withdrawal from the presidential race.

Welch wrote in a Washington Post op-ed Wednesday that he maintains great respect for the president, but the stakes are too high and the "disastrous debate performance" of the incumbent president cannot be ignored or dismissed. He argued that while Biden did "save" the country from GOP presidential frontrunner Donald Trump once, the 81-year-old leader should "reassess whether he is the best candidate to do so."

For Welch, Biden has lost his charm and should step down from the race. He added that unless Biden is replaced, Democrats gunning for Congress seats in November are in for a potential disaster.

Read more