Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Kamala Harris Promises Pro-Crypto Regulation in Outreach to Black Men

Source Beincrypto

Vice President Kamala Harris published a new “Opportunity Agenda for Black Men,” aiming to bolster failing support among this demographic. Her campaign promises a crypto-friendly regulatory framework, among other measures.

African Americans have disproportionately higher rates of crypto asset adoption than other US demographics, but this may not guarantee Harris new votes.

Harris’ Crypto Outreach

Kamala Harris, US Vice President, and Democratic Party nominee is apparently tying her support for cryptocurrency to an effort to win over African-American voters. In the Opportunity Agenda for Black Men published today on her website, Harris’ campaign cast regulatory friendliness as a move that would disproportionately help this community.

“More than 20% of Black Americans own or have owned cryptocurrency assets. Vice President Harris… will make sure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected,” the agenda stated.

Read More: Crypto Regulation: What Are the Benefits and Drawbacks?

The claim that African Americans hold a relatively high amount of crypto compared to other demographics has held out in recent years. However, casting new crypto regulations as a gift to the Black community seems like an odd choice.

After all, polling suggests that voters increasingly support crypto across the board. Why is Harris calling this a racial issue?

A key concern for the Harris campaign is her flagging support among Black men. The New York Times claims Harris is underperforming substantially with this particular demographic. Joe Biden enjoyed 15% more support with it in 2020 than Harris does today.

As polls remain remarkably close, the Harris campaign intends to win back some votes on this front.

2024 Election Polls. Source: FiveThirtyEight

Her opponent, Donald Trump, has made support for Bitcoin a cornerstone of his 2024 campaign. Harris has also supported the industry to the extent that VanEck considers either candidate’s victory a success for crypto. Still, Harris’s support is generally seen as vaguer than Trump’s, and she has fewer concrete promises for the industry.

Ultimately, campaign statements have cast pro-crypto regulation as one of several “tools to achieve financial freedom” that Harris is offering to Black men. These tools include debt forgiveness, new loans, job programs, and several other economic incentives.

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

It’s presently unclear whether this particular economic message will translate to new support. Arthur Hayes, BitMEX co-founder and industry thought leader, expressed ambivalence to either candidate’s crypto policies in an interview.

“Both the Trump administration or Harris administration will print the money. They do it in different ways. But the money will be printed. And so your crypto is going to go up — the path could be very wonky, but at the end of the day, we know where it’s going,” said Hayes.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Author Irene Q.

Sep 11, Fri

US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.

Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Author Irene Q.

Sep 14, Mon

Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Gold falls below $4,300 as higher US yields bolster Fed rate hike bets Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

Author FXStreet

22 hours ago

Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

16 hours ago

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Popular Symbols