The 2024 U.S. presidential election has seen significant engagement from the cryptocurrency industry, with notable figures in the sector endorsing either the Republican nominee, former President Donald Trump, or Democratic candidate and sitting Vice President Kamala Harris. Here’s a look at the endorsements and perspectives shaping the crypto landscape as the election approaches on Nov. 5.
Trump Leads in Crypto Endorsements
Donald Trump has gained considerable backing from key players in the crypto industry. While he was once skeptical of Bitcoin and cryptocurrencies, Trump’s recent pro-crypto stance has resonated with the community, leading to substantial endorsements.
One possible reason for Trump’s lead in endorsements is his early campaign start. He announced his candidacy in November 2022, nearly two years before the election. In contrast, Harris only became the Democratic nominee in July 2024, giving her a late start in gathering support.
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In May 2024, Jeremy Kauffman, founder of blockchain-based platform LBRY, was among the first crypto figures to endorse Trump. More prominent support came in June when Gemini co-founders Cameron and Tyler Winklevoss pledged $2 million in Bitcoin toward Trump’s campaign, citing his favorable views on crypto. Kraken co-founder Jesse Powell followed with a $1 million donation, calling Trump “the only pro-crypto major party candidate.”
Notable Figures Supporting Trump In U.S. Presidential Election
Other high-profile industry supporters of Trump include ARK Invest founder Cathie Wood, a prominent Bitcoin advocate who publicly endorsed him in June. Elon Musk, whose company, Tesla, invested in Bitcoin, has also supported Trump, appearing at some rallies.
Trump has attracted endorsements from influential crypto figures such as Cardano founder Charles Hoskinson, Tron founder Justin Sun, and Bitcoin Foundation founder Charlie Shrem. In the venture capital sphere, former PayPal president David Marcus, Sequoia Capital’s Douglas Leone, and Andreessen Horowitz co-founder Marc Andreessen have also voiced support for the former president.
Harris Gains Crypto Endorsements Despite Late Start
Despite entering the race later, Kamala Harris has attracted support from several prominent crypto leaders, especially since publicly voicing her stance on cryptocurrency in September. Harris has expressed cautious support for the industry, emphasizing the need for consumer protection while embracing the sector’s potential.
In early September, Ripple co-founder Chris Larsen endorsed Harris, followed by Blockchain Foundation executive Cleve Mesidor, who launched a $100,000 fundraiser for her campaign. Influential voices like Laura Shin, founder of the Unchained podcast, also supported Harris, urging her to “help [crypto] flourish” in an article for Time magazine in October.
One of Harris’ most prominent supporters is billionaire investor Mark Cuban, who strongly criticized a potential Trump second term. While Cuban claimed not to have financially supported Harris’ campaign, he publicly argued her leadership would be preferable. Additional support came from venture capitalists like a16z’s John O’Farrell and SkyBridge Capital’s Anthony Scaramucci, who has been assisting Harris on her crypto policies.
Neutral Perspectives Within the Crypto Community
While many crypto community members have chosen sides, others are neutral. Notable investor Tim Draper, for example, donated to both campaigns, expressing confidence that both candidates would act in the industry’s best interests. Coinbase CEO Brian Armstrong similarly suggested that regardless of party, the next administration will adopt a “constructive” approach to crypto.
Quantum Economics founder Mati Greenspan reflected this sentiment, noting that while Bitcoin’s decentralized nature doesn’t rely on any political outcome, having a pro-crypto president would still benefit the industry. His stance found considerable support on social media, with a poll by MicroStrategy founder Michael Saylor indicating a 90% preference for Trump among 100,000 respondents on Oct. 27.
