New Research Shows Majority of U.S. Voters Support Crypto and Web3 Technologies
A recent study conducted by Coinbase reveals that 55% of voters in key U.S. states are less likely to back political candidates who oppose cryptocurrencies and web3 technologies. The data is part of Coinbase’s efforts to mobilize the 52 million American crypto owners into a powerful political force.
Crypto’s Impact on the 2024 U.S. Election
This research highlights the increasing influence of U.S. crypto owners, who not only represent one in five American adults but also tend to be younger and more diverse than the general population. It suggests that crypto is not just a financial asset but also a political tool that could sway election outcomes.
Furthermore, the study reveals that 87% of Americans believe the current financial system needs an overhaul, while only 14% are optimistic about its future. In key states, over 40% of digital asset owners use cryptocurrencies for remittances, offering a more cost-effective alternative to traditional banking services.
The Political Cost of Ignoring Crypto
With a majority of voters in crucial states like New Hampshire, Nevada, Ohio, and Pennsylvania expressing support for candidates who back crypto and web3 technologies, it is becoming increasingly evident that resisting these innovations carries a political cost.
Hot Take: Crypto’s Rising Political Influence
The latest research from Coinbase demonstrates the growing impact of cryptocurrencies and web3 technologies on U.S. politics. As more Americans embrace crypto ownership, they are also demanding political support for this nascent industry. The study reveals that politicians who oppose or ignore crypto may face significant backlash from voters who see these technologies as both a financial asset and a means to transform the existing financial system. With such widespread dissatisfaction with traditional banking and an increasing reliance on cryptocurrencies for remittances, candidates who fail to align themselves with the crypto community risk losing key voter support in crucial states. The political landscape is changing, and crypto’s influence is undeniable.
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