The United States is on the brink of a historic moment, with the possibility of having a prominent crypto community member as its president. In this article, we dug deep to find out which crypto enthusiasts are gunning for the top spot and their chances of winning.
Why crypto buffs want a piece of the pie
Since the dawn of cryptocurrencies, the crypto community has been fighting with watchdogs who cannot fully embrace their legitimacy due to their independent nature. Things escalated quickly in 2023 when the US Securities and Exchange Commission (SEC), the primary regulator of the crypto industry, launched a vigorous crackdown on the digital asset market. The SEC deemed 68 cryptocurrencies as illegally issued securities and even filed charges against crypto giants Binance and Coinbase.
Following the famous saying, "If you can't beat them, join them,” members of the crypto community have decided to take matters into their own hands by running for the presidency of the United States. The upcoming election is scheduled for November 5, 2024. Get your popcorn ready!
Crypto warriors in the 2024 presidential brawl
As of now, we have three popular members of the crypto community claiming the presidency of the United States: Ron DeSantis, Robert Francis Kennedy Jr., and Francis Suarez. Let's take a closer look at these crypto knights.
Ron DeSantis, Florida Gov. Republican Party representative
Ron DeSantis speaks to voters.
DeSantis promises the members of the crypto community that he will protect Bitcoin. In his opinion, the current watchdog policy is strangling the life out of the cryptocurrency. He firmly believes that if authorities keep choking the crypto community, Bitcoin could meet its demise within four years.
Ron DeSantis also fights against central bank digital currency (CBDC), the digital version of traditional money. He reckons the real problem with this fancy tool is that once it is up and running, the authorities will have a field day snooping on every financial transaction made.
To show he means business, DeSantis is taking real action. In March 2022, he signed a law that includes financial literacy lessons on cryptocurrencies for students. The politician has also offered to pay state fees with crypto.
Robert Francis Kennedy Jr., lawyer and eco-activist. Democratic Party representative
Robert Francis Kennedy Jr., pictured for the BBC.
Robert Francis Kennedy Jr. is the nephew of the 35th President of the United States, John F. Kennedy. Just like DeSantis, his presidential campaign is focused on protecting the crypto community members' rights.
Did we mention that Kennedy Jr. is also a friend of miners? It is quite interesting, especially for an eco-activist like him. But he openly criticized the Biden administration's proposal to introduce a 30% tax on mining. According to Kennedy Jr., American regulators are out to squash the rebellious, independent crypto industry.
And you know what else? The US is the largest mining center in the world. Bitcoin, the most capitalized cryptocurrency, runs on an extremely energy-guzzling Proof-of-Work (PoW) algorithm. Eco-activists have been crying foul and calling for a ban on Bitcoin mining. But Kenedy Jr. believes that the negative impact of BTC mining on the environment is simply exaggerated.
Kennedy Jr. also joined Ron DeSantis in criticizing the CBDC. He states that the new tool will provide watchdogs with a convenient way to control all transactions conducted in the traditional financial market.
Twitter founder Jack Dorsey has supported Kennedy Jr.'s candidacy.
Francis Suarez, Miami Mayor. Republican representative
Francis Suarez during a conversation with the media.
Suarez is not making any specific promises to the crypto market in his election campaign. However, he is already a well-known face in the crypto community. He was the one who brought MiamiCoin to the market and made a lot of efforts to attract miners to his jurisdiction.
The main contenders and their chances
We still have around 15 months to go before the US presidential election, but let’s take a peek at the current scoreboard. According to available polls, the leading contenders are:
- Current US President Joe Biden.
- Former US President Donald Trump.
- Crypto advocate and Florida Governor Ron DeSantis.
The other crypto representatives unfortunately are not even close to the top spots.
According to the poll results, Biden and Trump are neck and neck. The current US leader is squeaking ahead by a mere 1%. But when paired with DeSantis, Biden takes a cake with a 5% lead.
DeSantis' lag is not that tremendous. He still has some time to catch up before election day.
If DeSantis manages to pull off a victory, the crypto industry could see some serious prosperity. If Biden remains in charge, expect the watchdogs to keep tightening the screws on the digital asset market. And as for Trump, well, he is no friend of crypto. The former US leader has repeatedly criticized cryptocurrency, calling Bitcoin a scam. At the same time, Trump does not hesitate to make money on NFTs, which are sold for those so-called scam crypto coins.
Will the crypto crew prevail?
Now we are closer to having a crypto-friendly leader steering the good ship USA towards crypto industry development. Florida Governor Ron DeSantis is leading the charge, albeit a few steps behind Joe Biden and Donald Trump. But it is only a 5% gap. So, let’s keep our hopes high and fingers crossed!
🤔 What do you think, are there any chances for the crypto community to win the presidential race 2024?
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Please note that this material does not constitute investment advice. The financial and other transactions mentioned in the article are not guidance for action. Itez is not responsible for any possible risks. Cryptocurrency is a high-risk asset, and operations involving it can lead to financial losses. Users should conduct independent analysis to make informed decisions regarding cryptocurrency and/or tokens.