Ralph Schlosstein, the honorary chairman of Evercore, a well-known investment bank on Wall Street, said that if Harris is elected President of the United States, she will be more 'friendly' to businesses compared to Biden. This prominent Democrat said, 'People generally believe that Harris will be more friendly to large technology companies and businesses. I believe this is partly due to her background and upbringing.'

Ralph Schlosstein said that Harris's legal background and representation of Silicon Valley may affect her attitude towards regulation. Reports last week indicated that some major Democratic donors are increasingly expressing the belief that Harris should be less aggressive in anti-monopoly actions, so this topic has been closely watched. It is reported that Harris has shown a cautious balance on anti-monopoly issues and has not actively called for the breakup of large tech companies or the scrutiny of the concentration of power in artificial intelligence, like other members of the Biden administration.

Ralph Schlosstein further added that the most important difference for the market is the attitude of the two presidential candidates towards cryptos. Earlier this month, the Chief Financial Officer of a crypto asset exchange$Coinbase (COIN.US)$Alesia Haas, Chief Financial Officer, mentioned that Harris is using the company's Commerce platform to accept crypto donations. Subsequently, a spokesperson for Coinbase confirmed that a super political action committee, Future Forward, supporting Harris, has joined Coinbase Commerce.

Although Coinbase quickly clarified that it was Future Forward joining Coinbase, meaning that Harris herself did not directly accept cryptocurrency donations, it is still significant news for the crypto industry. As Biden's vice president, Harris's crypto policy has been a topic of great interest. The industry has been skeptical about whether she will continue Biden's high-pressure policy that is unfriendly to the crypto industry, and Harris's reluctance to make a statement has intensified these unsettling suspicions. But if Harris is willing to accept cryptocurrency donations during the election period, it may indicate that the situation will develop in a direction that the crypto industry is happy to see, as Harris is unlikely to want to bear the reputation of "killing the donkey to get rid of the millstone."

Compared to Harris's cautious attitude, the Republican presidential candidate Trump has shown stronger support for the crypto industry. Trump not only welcomes political donations from the crypto industry, but also promises to give strong support to the industry if elected. Trump's proposals include reshaping US energy policy to make the US a leader in global bitcoin mining and removing Gary Gensler from his position as chairman of the US Securities and Exchange Commission (SEC). Trump has even proposed creating a national Bitcoin strategy "reserve."

It is worth mentioning that the crypto industry has organized a well-funded and organized lobbying group during the 2024 US presidential election cycle to protect its industry interests. According to a report by the public interest organization Public Citizen, nearly half of corporate political donations in the 2024 election cycle come from cryptocurrency companies, with major cryptocurrency companies investing significant funds in supporting candidates who are friendly to cryptocurrencies.

Editor/ping