From a crypto perspective, Cardano founder Charles Hoskinson suggests that former US president and Republican presidential candidate Donald Trump is better suited to win the election. United States presidential election as he has shown more support for the US crypto industry than Vice President Kamala Harris.
Hoskinson praises Trump for his support of the cryptocurrency industry
In the recently concluded TOKEN2049 Conference in SingaporeHoskinson was particularly outspoken in his support for the Trump administration. In an interview with CNBC interview On Friday, September 20, he said: “Any presidential candidate who actively participates in crypto-related conferences or initiates decentralized finance (DeFi) projects is likely to be more supportive of the industry than someone who appointed SEC Chairman Gary Gensler.”
This comment follows Trump’s promise at a Bitcoin conference in July to champion crypto-friendly regulations and his pledge to fire Gensler on his first day as president. By contrast, Hoskinson has been particularly critical of the The Biden-Harris administrationwhich he says has adopted a hostile stance towards the cryptocurrency industry.
He even went so far as to claim that voting for Kamala Harris would threaten the US cryptocurrency sector. This sentiment is reflected in the numerous enforcement actions initiated by the SEC under Gensler’s leadership against major cryptocurrency companies like Ripple, Binance and Coinbase.
Since attending the Bitcoin Conference, Trump has shown his support for the industry on several occasions, including launching a DeFi project called Global financial freedom and using Bitcoin to buy cheeseburgers for his supporters. Asked whether Trump’s support for cryptocurrencies is opportunistic, given his family’s involvement in the sector, Hoskinson acknowledged that all politicians, including the former president, display “some degree of opportunism.”
In an interview with the Financial Times on Friday, September 20, Hoskinson also expressed his reservations about the Trump-backed company, World Liberty Financial. The Cardano founder is concerned that this platform could become a political issue. “Trump is launching a DeFi application and that is worrying for the industry,” Hoskinson stated.
VanEck analysts favor Harris administration for Bitcoin
Despite Trump’s recent outreach to the cryptocurrency industry and support from prominent crypto investors, Charles Hoskinson remains somewhat skeptical that Trump or Kamala Harris, if elected, would significantly advance the development of the cryptocurrency industry in the United States. However, he noted that Trump “is the front-runner (presidential candidate) from a crypto perspective.”
Interestingly, some VanEck analysts argue that Kamala Harris may be a better choice overall BitcoinThey argue that his presidency would likely maintain current economic policies, which could weaken the US dollar and drive greater Bitcoin adoption.
“We believe that a Kamala Harris Presidency “It could be more beneficial for Bitcoin than a second Trump term, as it would likely accelerate many of the structural problems underpinning Bitcoin adoption,” Matthew Sigel and Patrick Bush stated in a report published Thursday. They added: “As inflation and currency debasement continue to challenge fiat monetary systems, Bitcoin could serve as a crucial hedge.”
Featured image from WIRED, chart from TradingView
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