The Kamala Harris campaign has started accepting Shiba Inu and other cryptocurrencies as donations for the upcoming November election.
In a surprising twist, the Kamala Harris camp has started accepting cryptocurrency donations to fund their November election expenses. The Vice President will receive remuneration in SHIB, among other notable digital assets.
Coinbase’s chief financial officer, Alesia Haas, told Fortune magazine Wednesday that the Future Forward political action committee (PAC) will oversee donations through the Coinbase Commerce. In addition to SHIB, Coinbase Commerce will accept donations in Bitcoin, Ethereum, Apecoin, Dogecoin, Litecoin, DAI, USDT, USDC, and MATIC.
The SHIB inclusion enhances the asset’s growing prominence in the cryptocurrency space. It also reiterates SHIB’s underlying acumen to be an option in broader payment systems and transactional settlements.
A Crypto Win?
Harris’ acceptance of cryptocurrency donations could confirm the Vice President’s camp’s changing attitude toward digital assets. Although Harris’ advisor stated that the Democratic presidential candidate is interested in the cryptocurrency sector, she has yet to mention her plans for digital assets in her campaigning activities.
However, Haas stated that the latest twist is a win for the crypto sector. According to a Fortune report, she insinuated that the United States could be gearing toward regulatory clarity regardless of who wins the November election.
Meanwhile, former president Donald Trump has been more resolute aboout his stance for the crypto industry. He has publicly promised to create a conducive environment for digital innovations like cryptocurrencies, starting with firing SEC Chair Gary Gensler. If Harris makes a similar commitment, the crypto sector could be assured it will blossom regardless of the outcome of the presidential election.
Crypto-backed PAC Election Influence
Recently, super PACs endorsed by cryptocurrency firms have increasingly influenced election outcomes. Data shows a 94%-win rate among candidates supported by super PACs backed by crypto projects as of June.
In June, Fairshake supported pro-crypto nominees in the House and Senate. The PAC got donations surpassing $100 million and oversaw the election of 32 of the 34 candidates it backed.
Notably, the crypto sector is responsible for a chunk of funds donated by corporate firms. The industry has backed pro-crypto candidates with more than $119 million, about 48% of the $248 million donated by the private sector.
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Source: https://thecryptobasic.com/2024/09/05/kamala-harris-accepting-shiba-inu-for-campaign-donations/?utm_source=rss&utm_medium=rss&utm_campaign=kamala-harris-accepting-shiba-inu-for-campaign-donations