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Kamala Harris Beats Donald Trump On Prediction Market Ahead Crypto Meetings

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4 months ago

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In a remarkable turn of events, Vice President Kamala Harris has overtaken former President Donald Trump in prediction markets, reflecting a surge in her campaign’s momentum. This comes after talks of a crypto reset and some meetings scheduled. However, as Harris’ win odds surge, the crypto industry might lose out on the ambitious plans Trump suggested.

Kamala Harris Vs Donald Trump

While Kamala Harris and Donald Trump look tied on Polymarket, the former has taken a small lead. According to the latest data, Harris’s election odds are now at 49.2%, while Trump lags slightly behind at 49%. This shift follows a period where Trump had a commanding lead, having previously reached a high of 71% win odds on Polymarket.

The Harris campaign’s recent efforts to engage the crypto community appear to be a significant factor in this turnaround. On Tuesday, August 6, the Democrats launched the Crypto4Harris Group. It is an initiative aimed at organizing, fundraising, and developing a nuanced crypto-policy approach for Harris’s presidential bid.

Moreover, the group will hold its first town hall meeting next week. This meeting will see notable figures like billionaire Mark Cuban and former White House Communications Director Anthony Scaramucci. The move to court crypto enthusiasts is seen as a strategic effort to counter Trump’s influence in the sector and build Harris’s image within the crypto industry ahead of the November elections.

Also Read: Kamala Harris’ Election Win Odds Hits 47%, Is Trump’s Bitcoin Strategy At Risk?

Crypto Reset Strategy

Such initiatives is part of a broader strategy by pro-crypto Democrats to reset Kamala Harris’s relationship with the industry and establish a fresh start. In addition, California Congressman Ro Khanna is also scheduled to host a pivotal roundtable in Washington. This roundtable is set to feature crypto industry leaders and renowned political figures.

It aims to discuss the future of crypto policy. Moreover, Harris campaign representatives and other Democrats are expected to join. Furthermore, Mark Cuban’s endorsement of Kamala Harris and Minnesota Governor Tim Walz has generated significant attention. Cuban, who has been an outspoken advocate for cryptocurrency, will be speaking at the upcoming Crypto4Harris town hall meeting.

His participation underscores the growing influence of the crypto community in the political arena. However, Harris’s attempt to pivot her stance on crypto has not been without controversy. Tennessee Senator Bill Hagerty recently criticized her new strategy.

He suggested it was a ‘desperate’ attempt to mimic Trump’s success at the Bitcoin conference in Nashville. Hagerty’s comments reflect a broader skepticism among some Republicans about Harris’s commitment to a pro-crypto approach.

Despite these criticisms, the Harris campaign’s crypto outreach has potential benefits. If Harris follows through on her promise of a pro-crypto policy, it could signal a limited crackdown on the industry. However, the some of Donald Trump’s ambitious plans on crypto may never see the light of the day.

Trump has announced his intention to establish a strategic Bitcoin reserve. This proposal could gain traction with the support of Senator Cynthia Lummis’ bill. Furthermore, it is deemed one of the most bullish moves for the industry. On the flip side, Harris hasn’t announced similar plans as of yet.

Also Read: Kamala Harris Likely To Appoint Anti-Crypto Treasury Secretary: Report

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Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US SEC Commissioner Jaime Lizárraga Announces Departure Amid Trump Transition

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11 hours ago

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November 22, 2024

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SEC Commissioner Jaime Lizárraga announced his decision to step down on January 17, 2025, as the Donald Trump administration prepares to assume office. A Democrat since 2022, Lizárraga cited personal family reasons for his departure.

Notably, His resignation will reduce the commission to one democratic commissioner, Caroline Crenshaw, and two Republican commissioners, Hester Peirce and Mark Uyeda.

US SEC Faces Leadership Shift as Commissioner Lizárraga Steps Down

According to a recent filing, SEC Commissioner Jaime Lizárraga will officially resign from the US SEC by January 17, 2025. His decision is made at the backdrop of Donald Trump preparing to take office three days later.

This also means change of guard within the commission as the current US SEC Chair Gary Gensler is expected to leave office on January 20, 2025, the Inauguration day of Trump. His resignation comes after weeks of pressure to remove him starting with Trump’s pledge to fire him.

Lizárraga, known for advancing corporate reporting on climate risk and data breaches, cited his wife’s battle with breast cancer as the reason for stepping down. He emphasized need to prioritize his family during this critical time.

Jaime Lizárraga stated, 

“For the better part of this year, my wife, Kelly, has confronted serious illness with admirable courage and a strong spirit. In reflecting on the challenges that lie ahead, we have decided that it is in the best interests of our family to close this chapter in my 34-year public service journey.”

Lizárraga’s departure leaves the Securities and Exchange Commission with just one Democratic Commissioner, Caroline Crenshaw. The two remaining Republican members are Hester Peirce and Mark Uyeda. This shift will alter the commission’s political balance and spark potential challenges in advancing or overturning regulatory measures. 

With a three-member commission, the commission’s quorum rules mandate full participation to adopt or amend regulations unless there is a formal recusal or disqualification.

Speculation Builds Around the Next Commission Chair

With the departure of both Chair Gary Gensler and Jaime Lizárraga, discussions about the next US SEC Chair have intensified. Names under consideration include Robert Stebbins, a partner at Willkie Farr; former Commissioner Paul Atkins; and Teresa Goody Guillén, a partner at BakerHostetler and a former litigation counsel for the commission. 

The new Chair is expected to reshape the crypto regulatory landscape and other pressing financial matters. As the Trump administration ushers in new appointments, the focus will be on implementing balanced and innovation-friendly policies.

Meanwhile, the Blockchain Association has urged the incoming government to address critical issues in cryptocurrency regulation. The association outlined five major priorities for Trump administration. These include, a clear and comprehensive regulatory framework for digital assets, implementing stablecoin legislation, and ending the debanking of cryptocurrency companies. 

The association also proposed the formation of a Crypto Advisory Council to enhance collaboration between regulators and stakeholders. A recent CoinGape report revealed that the crypto advisory council will help create a strategic Bitcoin reserve.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US SEC Commissioner Jaime Lizárraga to resign in January

Published

12 hours ago

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November 22, 2024

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US SEC Commissioner Jaime Lizárraga to resign in January
  • Jaime Lizárraga will resign as SEC Commissioner on January 17, 2025.
  • His departure leaves only one Democrat on the SEC amid a Republican-led shift.
  • Discussions intensify over the next SEC Chair, with crypto regulation in focus.

In a significant development at the US Securities and Exchange Commission (SEC), Commissioner Jaime Lizárraga has announced that he will step down from his post on January 17, 2025.

His resignation comes shortly after SEC Chair Gary Gensler revealed plans to depart when President-elect Donald Trump is sworn into office.

Lizárraga’s decision to resign has been attributed to personal reasons, specifically his wife’s serious illness, a matter he shared with President Joe Biden.

Jaime Lizárraga, who has served as an SEC Commissioner since 2022, was appointed during the Biden administration and had a term slated to last until 2027. His departure means that the SEC will lose one of the remaining Democratic voices on the five-member commission, leaving Caroline Crenshaw as the only Democratic Commissioner.

The commission will now have three Republicans: Hester Peirce, Mark Uyeda, and the soon-to-be vacated chairmanship under Gensler.

SEC’s leadership change as Trump prepares to assume office

The timing of Lizárraga’s resignation adds to the ongoing shift in the SEC’s leadership, raising questions about the future direction of regulatory policies, especially on issues like cryptocurrency.

Under Gensler, the SEC pursued a stringent stance on crypto, but with the departure of both Gensler and Lizárraga, the upcoming administration may steer the agency in a different direction, particularly in light of Trump’s pro-crypto rhetoric.

The SEC requires only a majority of three commissioners to make decisions, so the incoming Republican majority will hold significant sway over the commission’s agenda.

Lizárraga’s departure, alongside Gensler’s exit, further intensifies the debate over the next SEC Chair. The position is crucial for setting the regulatory tone, particularly on emerging issues like cryptocurrency.

As the Trump administration prepares to fill key positions, speculation grows over potential appointees, with names such as Brian Brooks, the former CEO of Binance.US, and current Republican SEC Commissioners Hester Peirce and Mark Uyeda emerging as potential candidates for the role.

Robinhood Chief Legal Officer Dan Gallagher, who was previously considered one of the top contenders for the SEC chair, has announced his withdrawal from consideration for the role.

This shift signals a new chapter for the SEC, with potential ramifications for both financial markets and regulatory approaches under the incoming administration.

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What Led Robinhood’s Dan Gallagher To Step Out From US SEC Chair Race?

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13 hours ago

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November 22, 2024

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Robinhood Chief Legal Officer (CLO) Dan Gallagher had before now been one of the top candidates to become the next US Securities and Exchange (SEC) Chair, replacing Gary Gensler. However, following a recent development, the CLO is no longer in the running for the position.

Dan Gallagher No Longer In Race For US SEC Chair Position

The Robinhood CLO is no longer running to become the next US SEC Chair following his statement to CNBC that he has made it clear to relevant people that he is not interested in being considered for the role.

Dan Gallagher has been one of the leading candidates to replace the current US SEC Chair, Gary Gensler. However, his recent statement has put top bed speculations that he could replace Gensler.

It is worth mentioning that the Robinhood CLO is no stranger to the Commission as he once served as a Republican SEC Commissioner between 2011 and 2015. As such, he seemed to be a perfect replacement for Gensler. Moreover, a Gallagher-led SEC would be a big win for the crypto industry since he is familiar with it, having served as Robinhood’s CLO and helped them navigate their lawsuit with the Commission.

Dan Gallagher isn’t the first to outrightly reject the SEC position role. Former Commodity Futures Trading Commission (CFTC) Chair Chris Giancarlo also recently said that he has no plans to become the next US SEC Chair despite his name coming up.

With Gallagher and Giancarlo out of the race, pro-crypto Paul Atkins is leading the race to replace Gary Gensler. Atkins is also a former Republican SEC Commissioner. Robert Stebbins is another name in the mix.

How The US SEC Can Align With Donald Trump’s Vision

Amid Dan Gallagher’s recent statement, US SEC Commissioner Mark Uyeda has discussed what the Commission needs to do to ensure that it aligns with Donald Trump’s vision to make the US the crypto capital. First, Uyeda stated that the SEC must provide regulatory clarity as not all cryptos are securities.

Secondly, the US SEC Commissioner called for safe harbors and regulatory sandboxes to allow for innovation in the crypto industry. Lastly, he said that the Commission needs to work with the US Congress and other regulatory agencies to ensure a “cohesive and comprehensive” approach for crypto.

When asked if he would like to take the job, which Dan Gallagher said he isn’t interested in, Uyeda replied that it is up to Donald Trump. However, he warned that the next US SEC Chair will have a lot of work to do to address regulatory excesses.

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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