CoinDesk Report:
Ro Khanna led a confidential roundtable meeting aimed at shielding the $2 trillion cryptocurrency industry from potential impacts by Trump. Given Trump’s supportive stance on cryptocurrencies, he leads in most 2024 election forecasts.
As the 2024 U.S. presidential election approaches rapidly, significant divisions have emerged within the cryptocurrency community. While former President Donald Trump has garnered some support for his stance on cryptocurrencies, not everyone shares similar views.
Ro Khanna’s Bold Move
Progressive Democratic Congressman Ro Khanna from Silicon Valley is actively working to safeguard the $2 trillion cryptocurrency industry from potential acquisition by the Trump administration.
Khanna’s efforts include organizing a high-level roundtable in Washington, D.C., bringing together key figures from the digital asset industry, Democratic lawmakers, and White House officials to strategize and advocate for crypto-friendly policies.
However, this activity is considered highly confidential, as one attendee noted before the meeting,
“They didn’t disclose the location, nor would they tell us who from the Biden administration would be attending. It’s been very secretive.”
Why Mark Cuban Is Key
Among notable figures, billionaire entrepreneur Mark Cuban stands out for his history of criticizing President Joe Biden.
The executive has stated that policies by SEC Chairman Gary Gensler fuel anti-crypto sentiments within the Biden administration. He previously remarked,
“Biden needs to choose between Gensler and the crypto voting base, or he risks losing the White House.”
Ro Khanna’s actions may stem from Trump’s recent shift in sentiment, recognizing the influence of cryptocurrency voters in the upcoming elections.
Trump’s Cryptocurrency Turnaround
As early as 2019, Donald Trump viewed Bitcoin and other cryptocurrencies as non-currency and highly volatile. At the time, he stated,
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
However, his recent statements stand in stark contrast to his past remarks. In fact, according to Trump,
“I will end Joe Biden’s war on cryptocurrencies, and we will ensure that the future of cryptocurrencies and Bitcoin is made in America.”
Polymarket Polling Data
Some might even argue that this sentiment shift has pushed Trump to the forefront of the Polymarket prediction market. In fact, as of press time, his chances of winning stand at 62%, while Biden lags behind at 12%.
Despite Khanna’s governmental policies and his poor debate performance, he will continue to support President Biden.
“Biden is completely coherent. He knows the details.”
