Kamala Harris Crypto Meet Takes Backseat Amid US Recession Fears
The panned crypto meet on Monday, between Democratic Presidential nominee Kamala Harris and crypto industry players has taken a back seat per the latest reports. In an attempt to bridge the torn relations with the crypto industry, the organizers of Harris’ election campaign are working on a meeting between the two sides.
Kamala Harris Crypto Meet Delayed
Fox News journalist Eleanor Terret who’s been closely reporting on these developments said that the crypto meeting, scheduled to happen on Monday, August 5, has been delayed further.
UPDATE: Just got word that Monday’s meeting is being moved to later in the week. TBD on day. Will update when I hear more. https://t.co/O8qefcLNTd
— Eleanor Terrett (@EleanorTerrett) August 2, 2024
Interestingly, this delay comes at a time when the US recessionary fears shot up significantly on Friday as the top three Wall Street indices tanked anywhere between 1.5-2.5% yesterday. Reportedly, rumors are that the Federal Reserve might intervene even before September 17, with a 50 bps expected rate cut.
On Friday, Kamala Harris won the official Democratic Nomination to fight against Donald Trump in the upcoming US elections. One of the sources said that National Economic Council chief Lael Brainard, one of the Biden administration’s top economists, will be attending a high-profile Zoom meet next week organized by California’s Democratic representative Ro Khanna.
On the other hand, David Plouffe has joined the Presidential Campaign for Vice President Harris. Previously, Plouffe has served on the Binance Global Advisory Board and has been a global strategic advisor to Alchemy Pay. Thus, he might help in a way to bridge the gap between Harris and the crypto industry.
Also Read: Peter Schiff Warns US Recession & Inflation Spike Ahead
Harris vs Trump
After Donald Trump’s aggressive push into crypto, Harris’ campaign organizers also made efforts to reach out to crypto industry players and build amicable relations. On the other hand, Trump is making an aggressive push promising key benefits to the crypto industry. On Friday, he also proposed issuing crypto cheques to reduce the massive $35 trillion of US debt.
Previously, Donald Trump had refused to debate Kamal Harris, however, he recently had a change of heart announcing that he would debate the US Vice President on September 4.
Also Read: Bitcoin Buy The Dip Interest Fades Amid $50K Calls, BTC ETF Outflows Surge
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