Harris embraces crypto, in overture to young men
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In an aggressive overture to business and young men, Vice President Harris used a packed fundraiser on Wall Street yesterday to declare her friendliness to cryptocurrency — and promise to work with major companies.
Why it matters: Harris is trying to convince businesspeople she'd be better than former President Trump, despite his promised tax cuts — and would work with them more than President Biden, who rankled many CEOs.
The fundraiser at Cipriani Wall Street raised $27 million — the biggest single-day haul of Harris' presidential campaign.
- "I will bring together labor, small business founders and innovators, and major companies," she said.
Going the farthest she has on crypto, Harris said: "We will encourage innovative technologies like AI and digital assets, while protecting investors and consumers."
Between the lines: Harris is reaching out to young men, who are more likely than any other voter group to own cryptocurrencies. Males ages 18 to 24 are identifying as Republican at higher rates than usual, alarming Democratic strategists.
- She's targeting a rich niche: Trump's sudden embrace of digital currencies has brought him "fervent support from a growing subset of single-issue voters — and wealthy donors," The Wall Street Journal reports.
What we're watching: On Tuesday in Savannah, Georgia, Trump will discuss "his plan to lower taxes for American business owners and highlight the importance of buying American-made goods," his campaign announced.
- On Wednesday in Pennsylvania, Harris will outline her economic vision. She told the Wall Street crowd there's "more we can do to invest in the aspirations and ambitions of the American people."
The backstory: Harris' comments about crypto mirror what aides had signaled.
- Brian Nelson, a powerful, longtime Harris aide who is the campaign's senior adviser for policy, said when asked about the crypto community during a Bloomberg News roundtable at the Democratic convention last month: "She's going to support policies that ensure that emerging technologies and that sort of industry can continue to grow."
The other side: Trump has made a show of promoting crypto, including an interview on X last week in conjunction with the launch of a Trump family crypto venture, World Liberty Financial.
- Trump, once a Bitcoin skeptic, said in an X video promoting the new venture that he wants to "ensure that the United States will be the crypto capital of the planet."
Down the road: Harris will campaign in Arizona on Friday and Nevada on Sunday. "The campaign believes that this travel reflects the many paths to 270 electoral votes that Vice President Harris has available — hitting both Blue Wall and Sun Belt states," a Harris campaign official told reporters.
