The Coinbase-backed Stand with Crypto advocacy group describes James David Vance, the Republican party's new vice presidential candidate, as someone who "strongly supports crypto."
Vance supported SAB 121 and disclosed a recent donation to Donald Trump, the Republican nominee for president, made in bitcoin. While this decision has left many perplexed, it appears that only a small portion of the general population is aware of Trump's focus on attracting cryptocurrency supporters through this gesture.
Regarding the Vance pick, most commentators suggested that he will not make a significant impact. Some Republicans expressed disappointment, while Democrats appear pleased with a decision that indicates Trump is not shifting towards the center, but rather further to the right. However, one needle he did manage to move was bitcoin's price, which continued to rise on Monday, seemingly influenced by this Vance decision.
The potential selection of a vice president who strongly supports crypto is a major advantage for the industry and could be a strategic move by the Trump team. With this move, Trump is increasingly gaining favor among those in the crypto community. This group is known for being independent, relatively wealthy, intelligent in both practical and academic terms, and ultimately, they are the demographic that will play a key role in determining the outcome of the election.
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