Kamala Horris Meme Coin Spikes 30% After Crypto Leaders Meet Democrats

The meme coin Kamala Horris (KAMA), inspired by Democratic frontrunner Kamala Harris, jumped 30% on Friday. This notable gain follows a meeting between top cryptocurrency leaders and Democratic officials.

As the countdown to the November elections continues, Democrats and Republicans alike are pivoting to crypto. They expect it to be the deciding voter community in the November polls.

Kamala Harris Reps’ Crypto Leaders Meeting Updates

Fox Business reports that Mark Cuban, Anthony Scaramucci, venture capitalist Ron Conway, and Democratic donor Ron Conway attended the Zoom meeting. More importantly, executives from Ripple, Coinbase, Kraken, Uniswap, and other crypto firms also participated.

California Congressman Ro Khanna hosted the meeting alongside top officials in the Joe Biden administration. There was no common ground, with crypto leaders slamming the Democrats. Among other reasons, they decried crypto-related firms being denied banking services because of White House policies.

“Executives didn’t hold back on telling the administration reps how much damage they’ve done to the crypto industry and the Democrat Party with their actions against digital assets. They basically just got yelled at,” Fox Businesses reported, citing an attendee.

Read more: How Can Blockchain Be Used for Voting in 2024?

The crypto leaders also slammed the Democrats for regulatory attacks from the US Securities and Exchange Commission (SEC). According to reports, SEC chair Gary Gensler is slated to appear before the House Financial Services and Senate Banking committees in September, two months before the election.

Notwithstanding, Scaramucci, the founder of SkyBridge Capital, is optimistic that Harris will gain some support in the crypto space, citing “steady progress.” Coinbase CLO Paul Grewal also commented, saying Harris represents a new face for crypto.

However, the Winklevoss twins are disappointed that Kamala Harris did not attend the meeting. While Cameron remarked about Harris’s repeated “no-shows,” Tyler observed that she has yet to take a position on crypto.

Even so, the KAMA meme coin is up nearly 30%, trading for $0.01387 as of writing. CoinGecko data shows it is the biggest gainer among PolitiFi tokens.

Meanwhile, Polymarket odds show a neck-to-neck competition between Harris and Donald Trump, tied at 49%, effectively maintaining Thursday’s outlook.

This competitive stance persists despite Donald Trump Jr.’s recent mention of a potential “official Trump coin,” which has sparked rumors about its intended use.

“I love how much the crypto community is embracing Trump. It’s incredible but beware of fake tokens claiming to be part of the Trump project. The only official project will be announced directly by us, and it will be fair for everyone. Do not be fooled — stay tuned for the real deal,” Trump Jr shared.

Speculation is growing that the proposed Trump coin could offer unique utility, potentially surpassing existing meme coins and PolitiFi tokens in the market.

“I don’t know for sure but I’d imagine they’d want it to have some kind of utility and not just be a meme coin as there’s already so many PoliFi tokens out there. If I had to guess — the Trump family built its fortune and name on real estate — so maybe it’s some kind of Trump-branded real estate token,” Eleanor Terrett wrote.