Solana co-founder Anatoly Yakovenko called on the electorate to focus more on the political programs in the upcoming 2024 U.S. presidential election. He advised voters to look beyond a vote for president between Donald Trump and Kamala Harris and research each for their stance on important matters.
Solana Co-Founder Urges Voters To Research Key Issues Ahead of US Election
In a recent tweet, Solana Co-founder Anatoly Yakovenko emphasized the stability of the U.S. political system, noting that both federalism and democracy are functioning as intended. He argued that the close 2024 US election race demonstrates how both political parties have adjusted their messages to achieve broad voter appeal.
The Solana Co-founder encouraged voters to consider policy over personality and advised against focusing on how others plan to vote.
Yakovenko suggested that voters choose a single important issue and examine each candidate’s position, using original sources. He emphasized that analyzing the candidates’ views without relying on out-of-context sound bites could lead to a more informed voting decision.
More so, the Solana Co-Founder stated,
“Harris isn’t communist and Trump isn’t a nazi. US is going to be fine either way. The fact that it’s 50/50 means that democracy and federalism are functioning as designed. Each party had to adjust its message to try to get to a stable majority.”
Crypto Sector Prepares for Increased Influence Post-US Election
With the 2024 US election fast approaching, the crypto industry anticipates a bipartisan increase in crypto-friendly lawmakers. In recent years, crypto investors and lobbyists have ramped up their political presence, spending over $160 million during this election cycle. Many new representatives are expected to add to a pro-crypto voting bloc in Congress.
Under the Biden administration, crypto-related businesses have largely faced regulatory challenges, particularly from SEC Chair Gary Gensler. A recent report indicated that U.S. SEC enforcement actions have cost crypto firms $400 million in compliance expenses.
Hence, a change in administration or a more balanced Congress could pave the way for policies that support the industry’s growth. This potential influx of crypto-friendly lawmakers is critical for advancing the crypto sector.
Additionally, Crypto investors are preparing for potential Bitcoin price swings as election day draws closer. However, Bitcoin price saw a 13% increase in October, partly fueled by speculation around Donald Trump’s potential return to office as a pro-crypto candidate.
However, Trump’s election odds took a slight dip in betting markets, affecting sentiment among crypto investors. The market saw a pause in the rally for Bitcoin and other altcoins as Trump’s chances of winning fell by 4.5%, according to Polymarket data. This shift indicates a cautious approach among investors amid the possibility of a tighter race.
This development underscores the stakes for crypto investors and highlights the dynamics between political sentiment and the crypto market ahead of the US election.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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