The biggest political campaign funders in cryptocurrency are increasingly outspoken about their personal views.
By Eleanor Mueller, Declan Harty, Jasper Goodman
Translated by Mary Liu, BitpushNews
The cryptocurrency industry's influence on American politics is greater than ever.
But behind the scenes, there are divisions between the left and right on who to support for president and who will control Congress next year.
Democratic cryptocurrency lobbyists, executives, and investors say that as industry leaders increasingly support Republican presidential candidate Donald Trump, the industry faces the risk of becoming overly right-leaning, as Trump has promised to enact policies that would boost digital asset companies.
Their Republican counterparts argue that reaching out to and supporting Democratic candidate Kamala Harris and her down-ballot candidates could isolate long-time Republican allies and offer little hope of success. The Biden administration has been skeptical of cryptocurrency trading, and it is unclear how Harris would approach the issue.
As the cryptocurrency industry's super PAC Fairshake announced plans to spend millions to oust Ohio Senator Sherrod Brown, Democratic mega-donor Ron Conway said he would cut ties with Fairshake.
A person familiar with the situation, who requested anonymity to discuss private conversations, said that when Fairshake decided to support Democratic Representatives Ruben Gallego of Arizona and Elissa Slotkin of Michigan in their Senate campaigns in battleground states, including Republican Representative Steve Daines of Montana, expressed dissatisfaction to cryptocurrency executives.
Kristin Smith, CEO of the Blockchain Association, said, "Emotions are running high right now. There are industry strategies, and there are personal strategies—sometimes these strategies may not be completely aligned."
Over a dozen cryptocurrency advocates familiar with the conflict said in interviews that the escalating tensions are creating new obstacles for the industry as it seeks to push for regulatory reforms in Congress, which have been delayed due to the political environment of an election year and limited speaking time.
"Since the Ohio super PAC announcement, things have gone haywire," said a congressional aide who spoke on condition of anonymity. "Democrats are mad, Republicans are mad, everyone is mad."
While it is not uncommon for the dynamics of an election year to hinder bipartisan cooperation, it is noteworthy that there is such a significant division within an industry on how to proceed. Even the now-defunct cryptocurrency giant FTX contributed significant funds to both parties.
A cryptocurrency lobbyist who spoke on condition of anonymity admitted, "The number of Republicans, Democrats, and independents is roughly the same. It's just a unique industry that is causing conflict."
The biggest political campaign funders in cryptocurrency are increasingly outspoken about their personal views.
Marc Andreessen's venture capital firm, Andreessen Horowitz, a major supporter of cryptocurrency, recently announced that Trump is the "right choice" for "the future of our business." Gemini co-founders Cameron Winklevoss and Tyler Winklevoss said they would each donate $1 million to Trump.
Cryptocurrency entrepreneur Jonathan Padilla said, "Sharp criticism from very well-known CEOs and investors on the center-right has caused great panic on the left." Padilla helped launch Crypto4Harris to garner support for the Democratic vice presidential candidate.
The tensions are spreading to Capitol Hill and could jeopardize bipartisan support for legislation to create cryptocurrency-friendly regulations this year. Since 71 Democratic representatives helped 208 Republican representatives pass a cryptocurrency reform bill in May, the issue has become more partisan.
Just weeks before becoming Trump's running mate, Ohio Senator JD Vance began promoting a cryptocurrency regulation proposal that was unlikely to garner support from both parties. Senate Agriculture Committee Chair Debbie Stabenow (D-Mich.) canceled a committee vote on his cryptocurrency bill after failing to secure Republican support.
Some cryptocurrency supporters are now suggesting that the industry should tread carefully with its support until after Trump is elected and the Republicans gain seats in the Senate.
While Democratic leaders like Chuck Schumer remain open to the concerns of the cryptocurrency industry, they believe that the Republicans would be more reliable allies.
A cryptocurrency lobbyist who spoke on condition of anonymity in discussing this idea said, "If you think Donald Trump is going to win the election, especially if you think the Senate might be controlled by Republicans, then why negotiate with your own people?"
Democratic cryptocurrency lobbyists and lawmakers warn that fully supporting the Republicans is short-sighted. They are working to make progress with Harris's campaign and still hope that she will implement more supportive policies than Biden, whose regulatory agencies have been at odds with digital asset companies.
"Cryptocurrency advocates reaching out to Harris don't believe in putting all their eggs in one basket or in one party," said Sheila Warren, CEO of the Crypto Innovation Council. "I think it's seen as brave, or meaningless, and it's a sad state of affairs, but that's where we are."
Concerns about the rupture of left-wing relationships intensified after the cryptocurrency super PAC announced plans to spend $12 million to support Bernie Moreno, the Republican opponent of Ohio Senator Brown. If Brown is re-elected, he is likely to chair the Senate Banking Committee next year and have significant influence over the future of cryptocurrency regulation, making this move a risky gamble.
"Anyone who cares about the future of cryptocurrency should hope that this issue remains within the scope of bipartisan discussion," said Democratic Representative Wiley Nickel of North Carolina, who is trying to connect Harris's campaign team with industry participants. "Anything else would poison cryptocurrency for the next decade."
Republicans who support cryptocurrency argue that having hope for the Democrats is naive. The party is home to some of the industry's biggest opponents, including SEC Chair Gary Gensler and Senator Elizabeth Warren of Massachusetts, who have warned that cryptocurrency trading poses dangers to consumers and the financial system. Harris does not have a clear record on this issue.
Cynthia Lummis, a prominent cryptocurrency supporter and Republican Senator from Wyoming, said, "I am very concerned that many candidates are changing their stance on this issue for political gain," and she is "very skeptical of Harris's supposed change in attitude."
Fairshake has poured significant funds into both the Republican and Democratic parties in an effort to win allies and quell criticism. However, this does not mean that either side is pleased. The organization said it has spent about $75 million of the $169 million it raised and declined to comment on the matter.
Some Democratic donors, including tech billionaire Conway, warned that the organization's spending is more broadly aimed at winning a majority of seats for the Republicans in Congress.
Similarly, Republicans are unhappy with the super PAC's support for the Democrats, with some seeing it as a betrayal of many years. Montana Representative Daines is one of them, and he is leading the Republican effort to regain control of the Senate.
A Republican strategist who spoke on condition of anonymity in private discussions said, "You've upset the people who are driving the industry's growth because this party (the Republicans) is at best skeptical. Have you thought twice before meeting with cryptocurrency industry people?"
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
