The crypto market has faced ongoing criticism since its inception, with increased scrutiny from those who are not proponents of digital assets in recent years. Ripple’s CEO, in an interview with Bloomberg, addressed this issue, stating that most politicians lack a proper understanding of cryptocurrencies and their functioning.
In light of this, Brad Garlinghouse called for better education and awareness among political figures regarding cryptocurrencies. He also noted that many politicians make statements about digital currencies without factual evidence to back them up. In preparation for the 2024 US elections, Ripple has formed a super PAC to support candidates who are pro-crypto.
This call for political awareness comes at a crucial time, as crypto policies have become a significant deciding factor for voters in the upcoming elections. Additionally, pro-XRP lawyer John Deaton has announced his candidacy for the Senate, running against Elizabeth Warren. Warren’s unfavorable stance on virtual assets and a bill targeting crypto investments has drawn backlash from the crypto community. The Senate also faced opposition to Warren’s attack on cryptocurrencies.
The crypto industry is stepping up its criticism of Senator Elizabeth Warren’s anti-crime legislation, as it could potentially destroy the savings of lawfully invested Americans in the cryptocurrency asset class. With elections taking place in several countries globally, crypto markets and regulations surrounding them will be a crucial factor for many voters.
In the United States, the crypto voting bloc is expected to play a significant role in the upcoming elections, with 1 in 5 Americans owning digital assets. According to Forbes, this accounts for 52 million people, with a diverse political composition. The 2024 elections could see up to 1.9 million votes being decided by crypto supporters, enough to sway the election in their favor. This makes it essential for election candidates to consider the crypto community’s support and stance on digital assets.
