Kamala Harris’ crypto reset in doubt with Gary Peters as VP contender

• Kamala Harris considers anti-crypto Senator Gary Peters as 2024 running mate.
• Kamala Horris (KAMA) memecoin drops 18% after Harris’s VP considerations.

In an unexpected turn of events, Vice President Kamala Harris, who recently appeared to support the crypto industry, has taken a step that suggests her anti-crypto stance.

Harris to pick Michigan Senator Gary Peters?

According to a recent Axios report, Harris is contemplating Michigan Senator Gary Peters, known for his anti-crypto views, as her running mate for the 2024 election.

This consideration comes just days after reports emerged indicating that President Harris was working on a ‘reset’ with the crypto sector, causing confusion and concern among crypto enthusiasts. 

Additionally, according to Reuters, North Carolina Governor Roy Cooper was also considered as a potential running mate for Harris. However, Cooper withdrew from consideration on 29th July, stating, 

 “I was honored to be considered for this role. This just wasn’t the right time for North Carolina and for me to potentially be on a national ticket.”

Peters’ anti-crypto stance

On the other hand, Axios reported that Peters is “interested in the nomination and has been working to drum up support”. However, this news did not resonate well with the crypto community. 

This is because, Peters, is known for his strong stance against cryptocurrency, as he had supported the Money Laundering Act of 2023, which emphasized the use of crypto in illicit terror financing.

Remarking on the same back in 2023, he said,  

“Given the clear and present danger posed by the financing of these and other militant organizations, we ask the Administration to provide additional details on its plan to prevent the use of crypto for the financing of terrorism.” 

Hence, the crypto community expressed disappointment with Harris’s choice as highlighted by Andrew Marshall, an active member of Chatham House who said, 

“Feels a pretty dark horse to me <<. Scoop: Sen. Gary Peters emerges as VP dark horse.” 

Impact on the memecoin and Polymarket

Consequently, this development impacted the Kamala Harris-inspired memecoin, Kamala Horris [KAMA], which dropped by 18% in the past 24 hours.

Additionally, Polymarket data indicated that former President Donald Trump was leading the polls with 59% of the votes, while Harris trailed in second place with 38%.