Bijie.com reports:
The uncertainty surrounding Biden’s re-election has led Democratic Party insiders to consider Kamala Harris as a potential successor. Biden has faced criticism for his stance on cryptocurrencies, while Harris has gained support in the polls.
As the upcoming election draws closer, President Joe Biden faces increasing criticism, particularly after the first presidential debate.
In this atmosphere of uncertainty, Vice President Kamala Harris has emerged as a leading candidate to replace Biden.
Will Kamala Harris replace Joe Biden?
This sudden shift seems to stem from Biden’s consistent anti-crypto stance, particularly his veto of the repeal of Staff Accounting Bulletin 121 (also known as SAB 121).
The ongoing scrutiny of cryptocurrency companies by Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission, has further impacted Biden’s standing in the upcoming election. Billionaire entrepreneur Mark Cuban said it best,
“Biden has to choose between Gensler and the crypto voters, or he may lose the White House.”
Additionally, according to a recent report by Reuters, multiple senior insiders from Biden’s campaign team, the White House, and the Democratic National Committee are actively considering replacing him with Kamala Harris.
However, Biden refuted all these speculations in a recent conversation with staff, stating,
“Let me be as clear and as straightforward as possible: I am running. Nobody is going to kick me out. I am not leaving. I will stay in this race till the end, and we will win.”
Things won’t change
Nevertheless, many believe that replacing Biden with Harris may not bring about significant changes. Isaac Boltansky, Director of Policy Research at BTIG, pointed out the same reasons,
“From all intents and purposes, Harris’ presidency would be a continuation of the Biden administration.”
However, despite the skepticism surrounding Harris, data from Polymarket’s prediction market shows that Kamala Harris is leading Joe Biden in the “Winner of the 2024 Presidential Election” poll. However, former President Donald Trump still holds the top position.
Impact on meme coins
The potential of Harris replacing Biden can also be analyzed through the performance of meme coins inspired by her. On July 4th, Kamala Harris-themed meme coin Kamala Horris [KAMA] saw a rise of nearly 250%.
According to Dex Screener data, KAMA has risen by 12.90% in the past 24 hours. In contrast, meme coin Jeo Boden, inspired by Biden, continues its bearish trend, dropping by 24.2% during the same period.
