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Crypto community divided – Here’s how Ro Khanna is taking on Trump

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Trump is siding with crypto while Biden may be at war with it. What about lawmakers though?

Crypto community divided - Here's how Ro Khanna is taking on Trump

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  • Ro Khanna led a confidential roundtable to shield $2 trillion crypto industry from Trump
  • Trump is leading across most 2024 election prediction polls owing to his pro-crypto position

With 2024’s Presidential Election quickly approaching in the United States, a notable divide within the crypto community has emerged lately. While former President Donald Trump has gained some support for his pro-crypto stance, not everyone shares a similar line of thought.

Ro Khanna’s bold move

Congressman Ro Khanna, a progressive Democrat from Silicon Valley, is actively working to safeguard the $2 trillion crypto industry from what he perceives as a potential takeover under Trump’s administration.

Khanna’s efforts include organizing a high-level roundtable in Washington D.C., bringing together key figures from the digital asset industry, Democratic lawmakers, and White House officials to strategize and advocate for crypto-friendly policies. 

However, this event was supposed to be highly confidential, with one attendee noting before the meeting, 

“They haven’t disclosed the location, and they will not tell us who is coming from the Biden Administration. There has been a large degree of secrecy around this.” 

Why Mark Cuban is the key figure?

Among prominent figures, billionaire entrepreneur Mark Cuban stands out, given his history of criticism against President Joe Biden.

According to the exec, SEC Chair Gary Gensler’s policies have contributed to anti-crypto sentiments within the Biden administration. Shedding light on the same, he had previously stated, 

“Biden has to choose between Gensler or crypto voters or it could cost him the White house.”

Ro Khanna’s approach may stem from Trump’s recent shift in sentiment, recognizing the influence of crypto voters in the upcoming elections.

Trump’s sentiment shift towards crypto

Back in 2019, Donald Trump had dismissed Bitcoin [BTC] and other cryptocurrencies as non-monetary and excessively volatile. At the time, he said, 

“I am not a fan of Bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on thin air.”

However, his recent statements have been in sharp contrast to those made in the past. In fact, according to Trump

“I will end Joe Biden’s war on crypto, and we will ensure that the future of crypto and the future of Bitcoin will be made in America.”

Polymarket prediction poll data

One can even argue that this sentiment shift has pushed Trump to the forefront of the Polymarket predictions market. In fact, at press time, he held a commanding 62% probability of winning, while Biden trailed in third place with just 12%.

Polymarket poll

Source: Polymarket

Despite the policies of his administration and his poor debate performance, for his part, Khanna will continue to support President Biden.

“Biden is fully coherent. He is on top of details.”

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Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
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