In the recent 2024 U.S. Presidential debate, the absence of any discussion on cryptocurrency was notable, despite the growing importance of digital currencies in today’s world. This oversight raises questions about the future of traditional banking systems, economic growth, and individual financial empowerment in the country. Let’s delve into why this crucial topic was overlooked during the debate and the potential implications of its exclusion.
Cryptocurrency was noticeably absent from the spotlight during the highly anticipated 2024 U.S. presidential debate, disappointing many who were eager to hear the candidates’ views on this evolving financial landscape. The debate, featuring current President Joe Biden and former President Donald Trump as their respective party’s nominees, took place in Atlanta, Georgia and covered a range of issues from the economy to abortion, immigration, and foreign policy. However, the discussion barely touched on technology policy, let alone the booming cryptocurrency industry.
Throughout the election cycle, crypto has been a prominent talking point for candidates and policymakers, particularly after Trump made statements regarding regulations and his plans for the industry while on the campaign trail. On the other hand, Biden’s campaign has remained relatively silent on the topic, with the administration hinting at potential collaboration with Congress to address regulatory concerns surrounding cryptocurrency.
During the debate, Biden, who assumed office in January 2021, appeared hoarse and subdued, possibly due to a cold, while Trump projected a louder and clearer demeanor. Fact-checkers scrutinized both candidates’ statements during the debate, highlighting discrepancies in their claims. As the crypto industry looks towards the future, there is a collective hope for a more crypto-friendly regulatory environment under the new Congress and administration.
In an effort to influence policy decisions, various cryptocurrency companies, including Coinbase, Ripple, and Andreessen Horowitz, have made substantial donations to political action committees like Fairshake, contributing nearly $50 million each towards supporting favorable candidates. This financial backing has already yielded positive results in the ongoing election season, with PAC funding supporting campaigns against certain incumbents.
The first segment of the debate primarily focused on economic issues, with moderators addressing concerns about inflation, the cost of living, and the national debt. Interestingly, a prediction market on Polymarket gave Trump higher odds of winning in November, with bets favoring him over Biden. This market prediction suggests a 68% likelihood of Trump securing victory, based on current trends and sentiments.
the absence of cryptocurrency discussions in the 2024 U.S. Presidential debate underscores the need for a more comprehensive dialogue on the future of digital assets and their impact on the economy. The evolving regulatory landscape and the industry’s growing influence highlight the importance of addressing crypto-related issues in shaping the country’s financial future.
