Kamala Harris Has 'Unique Chance' To Flip Dems' Negative Crypto Reputation: Blockchain Group

Vice President Kamala Harris has secured enough delegates to become the Democratic Party's nominee for 2024, and a blockchain non-profit group believes she in a "unique" position to change the narrative around the party's approach toward the cryptocurrency industry.

Harris secures enough support

According to Associated Press and CNN estimates, the vice president has secured well over the required pledged delegates on the first ballot, and with no other challengers so far to replace U.S. President Joe Biden, she is poised to become the Democratic 2024 presidential nominee.

She also managed to haul in $81 million on her first campaign fundraiser, marking the highest 24-hour fundraising record for any candidate.

Blockchain group urges Harris to support crypto

The Digital Chamber (TDC) called on Harris to declare support for the digital assets industry as she "has a unique chance to lead this change" within the Democratic Party.

The group noted that while some Democratic leaders such as Senate Majority Leader Chuck Schumer have already recently warmed up to pro-crypto legislation, there is a lingering "public perception that the party holds a negative viewpoint on digital assets, largely due to the Biden/Harris Administration's notably cautious and at times hostile approach to these transformative technologies."

TDC, which has members recognized as some of the industry's key leaders such as Binance, Bitwise, Fidelity, Riot Platforms, Protocol Labs, Marathon Digital Holdings, and Bitcoin maximalist MicroStrategy, said Harris' entry "represents an opportunity to change that perception."

The organization went on to note that there are more than 50 million Americans who have "embraced" digital assets, further citing data that showed Blacks, Latino Americans, and immigrant communities are adopting cryptocurrencies at higher rates – such groups are "key constituencies" of the party, TDC reiterated.

Harris can lead Dems in championing innovation: TDC

They went on to "respectfully" urge Harris to advocate for "pro-digital asset language in the party's platform." Notably, the GOP 2024 Platform puts crypto in pole position among three innovative sectors that Republicans want to prioritize in their campaigns this year.

The group said Harris should pick a running mate who is "sophisticated in digital asset policy," and TDC believes Colorado Gov. Jared Polis would be a great choice. Polis is known for announcing that his state will be the first in the country to accept crypto as payment for state taxes and fees.

TDC said Harris should engage with industry leaders in blockchain and crypto to discuss policies that will support growth in the industries.

"We are hopeful that with your leadership, the Democratic Party can pivot towards a more supportive stance on digital assets, aligning with the aspirations of millions of Americans who believe in the transformative power of this technology," the group concluded.

VP's stance on digital assets

So far, not much is known about how Harris actually views digital assets. She has neither strongly criticized crypto in public, nor denied the potential of the emerging sector in public.

On the other hand, the Biden administration has been deemed hostile toward the industry. It remains to be seen whether Harris will listen consider the TDC's calls to help Democrats embrace the industry or if she will actually look into Polis' crypto track record.

Harris gaining traction on Polymarket

Quite interestingly, Harris' chances of winning the presidential ticket in 2024 have increased among traders on Polymarket, where traders buy and sell crypto to bet on future events.

As of early Tuesday, her chances have climbed to 32% from 29% on Monday morning. Republican presidential nominee Donald Trump's chances stayed at 64%.