Related Reading: Analyst Claims Ethereum Is Not Dying,’ Bitcoin Surge No Threat To Ether In the current political climate, Republican nominee Donald Trump has shifted his stance on cryptocurrency, now embracing the industry after previously labeling it as a scam, with promises including firing the Securities and Exchange Commission (SEC) chair Gary Gensler and Bitcoin as a strategic reserve asset for the nation. Conversely, Democratic Vice President Kamala Harris has pledged to support a regulatory framework for digital assets if elected.
We know we need to have pro-crypto legislation passed in this country.” Fairshake, which has garnered backing from major players in the digital asset sector, including Ripple Labs and Andreessen Horowitz, aims to ensure that both Republican and Democratic candidates recognize the importance of cryptocurrency in their platforms. The committee is poised to spend over $40 million in the lead-up to the 2024 elections, having already invested $140 million in various congressional races across the nation.
Despite these political developments, Coinbase’s stock faced significant pressure following the company’s recent earnings report, which fell short of expectations. Analysts Call Current Crypto Market Dip A Temporary Unwind’ Coinbase shares dropped 14.3% on Thursday, marking the steepest decline since May 2022.
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