Journalist
Posted:
| Last updated: July 5th, 2024
- Biden and Trump’s crypto stances in the first presidential debate of 2024 could sway voters.
- TREMP and BODEN memecoins saw fluctuations.
On the 27th of June, President Joe Biden and former President Donald Trump will face off in the first presidential debate of the 2024 election.
Hosted by CNN, this debate marks their first joint appearance on a debate stage since 2020.
Given that both candidates have contrasting approaches to cryptocurrency, this debate might also serve as a platform for them to express their actual views on the subject.
This could significantly influence the decisions of the crypto voters in this election.
How did the crypto community react?
Seeing this divide among candidates and crypto being the much-discussed topic this election cycle, Diogo Mónica, co-founder and Executive Chairman of Anchorage Digital in a recent conversation with Bloomberg said,
“Crypto will always be political, but it doesn’t have to be partisan. We want clear rules of the road.”
Thus, Mónica along with various others in the crypto community see crypto as a genuine question in the upcoming presidential debate.
Echoing similar sentiments, Stand With Crypto, a non-profit organization dedicated to uniting global crypto advocates noted,
“The Crypto Voter is a pivotal constituency this year, so our candidates should speak to our issues.”
To make things easier and seeing the number of crypto voters rising to nearly 52 million, the organization also went ahead and created a dedicated page for crypto voters.
This page is created to ask candidates about their positions on cryptocurrency and its role in the American economy.
Crypto steals the limelight
The push for cryptocurrency to be a part of the presidential debate stems from the perceived hostility towards crypto from the Biden administration.
While Trump has been openly pro-crypto, with initiatives like accepting crypto donations for his campaign and proposing to mine all remaining Bitcoin in the U.S., Biden has taken an opposing stance.
In fact, various execs, including billionaire entrepreneur Mark Cuban, believe that the blame extends not only to Biden but also to SEC Chair Gary Gensler, who has been in the limelight for scrutinizing various crypto firms in his tenure.
Impact on the crypto market
In the meantime, as the world eagerly anticipates the first presidential debate of the 2024 election, the impact on Trump and Biden-inspired memecoins has been notable.
Just a day ago, the Donald Trump-inspired memecoin, Donald Tremp [TREMP], experienced a significant rise of 20.2%. In contrast, the Joe Biden-inspired coin, Jeo Boden [BODEN], saw a decline of 3.3%.
However, as of press time, TREMP has only increased by 0.5%, while BODEN has continued to decline by 1.4% in the past 24 hours.
