Crypto Voters Favor Democrats for Congress, Prefer Trump over Biden in 2024
Crypto voters are more likely to support Democratic candidates for Congress, but when it comes to the 2024 presidential election, they would choose former President Donald Trump over President Joe Biden, according to a poll conducted by the Crypto Council for Innovation. The survey revealed that 41 percent of crypto voters would pick Biden as their next president, while 51 percent would choose Trump. Additionally, the poll found that 46 percent of crypto voters would support Democrats in Senate and House elections, compared to 42 percent who would vote Republican.
The Influence of Crypto Voters
Brett Quick, head of government affairs for the crypto alliance, highlighted the influence of crypto voters in shaping the 2024 election landscape. He emphasized the need for informed policy-making to address their priorities and potentially sway closely contested races. This is significant considering some lawmakers’ push for regulations on the crypto industry and its use in illicit finance. Notable figures such as Sen. Sherrod Brown, Sen. Elizabeth Warren, and Sen. Kirsten Gillibrand face re-election in 2024.
Rules and Regulation Preferences
The poll also revealed that a majority of crypto voters (83 percent) prefer a candidate who wants clear rules for cryptocurrencies to support investor choices and industry growth. Under the Biden administration, regulatory bodies like the SEC and CFTC have taken action against major crypto firms such as Binance while proposing regulations that could bring crypto under their authority. SEC Chair Gary Gensler has already stated that many cryptocurrencies are considered securities and believes current regulations are clear.
Trump’s Involvement with NFTs
Interestingly, former President Donald Trump has shown interest in non-fungible tokens (NFTs). He released a collection of 45,000 NFTs in December 2022 and unveiled another set of digital trading cards in December 2023. These NFTs offer fans the chance to win perks like dinner with Trump or own a piece of his suit from when he was indicted in August.
Hot Take: Crypto Voters’ Impact on Future Elections
Crypto voters have the potential to significantly impact future elections, with their preferences for candidates and regulations shaping the political landscape. As the crypto industry continues to grow and gain influence, policymakers will need to consider the nuanced needs and priorities of this influential group. It remains to be seen how these factors will play out in the 2024 election and beyond.
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