Crypto Industry Rallies to Raise $100,000 for Kamala Harris

The cryptocurrency industry is gearing up for a major fundraiser on September 13, aiming to raise $100,000 or more in support of Democratic presidential nominee Kamala Harris, according to a report by Reuters.

Individual donors are expected to contribute between $500 and $5,000 each to bolster Harris’s campaign as she vies for the White House this fall.

While former President Donald Trump has received significant financial backing from the crypto sector, Harris is increasingly attracting attention from industry groups seeking a fresh Democratic approach to digital asset regulation. Under the Biden administration and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, the crypto industry has expressed frustration over what it describes as “regulation by enforcement,” arguing that strict oversight is hindering innovation within the United States. Several crypto firms have received Wells Notices—warnings of impending enforcement actions by the SEC—prompting some to consider relocating to countries with clearer regulatory frameworks for digital assets.

Harris’s lack of a defined policy position on cryptocurrency is viewed by some fundraisers as an opportunity to shape the conversation within a potential new administration. “Why not seize on the first fundraiser—of which there will be many more—to actually make a statement about what crypto could mean for Democrats as a new administration considers its stance?” said Cleve Mesidor, executive director at the Blockchain Foundation, in an interview with Reuters.

WilmerHale’s Smith echoed this sentiment, emphasizing the importance of rallying support for Harris as the Democratic nominee and ensuring she understands the industry’s significance.

Earlier this month, a new group called “Crypto4Harris” formed to support Harris’s campaign, bringing together influential crypto leaders, including Dallas Mavericks owner and billionaire Mark Cuban and former White House communications director Anthony Scaramucci. The group is working to promote Harris within the crypto community and to advocate for a more favorable regulatory environment under her potential presidency.