- Biden’s re-election seemed uncertain, making senior Democratic sources look to Kamala Harris as a potential successor.
- Biden faced criticism over his crypto stance, whereas Harris gained polling support.
As a crypto investor with some experience in the market, I’ve seen my fair share of political speculation impacting digital assets. The recent buzz surrounding Vice President Kamala Harris as a potential successor to President Joe Biden has piqued my interest, especially given the growing criticism towards Biden’s anti-crypto stance.
With the election approaching, President Joe Biden is under increasing scrutiny — the intensity of which heightened following the first presidential debate.
As a researcher studying the political landscape, I’ve noticed an intriguing development: with President Biden facing uncertainty, Vice President Kamala Harris has emerged as a potential frontrunner for the Democratic Party’s nomination should anything happen to the current administration.
Kamala Harris to replace Joe Biden?
The unexpected change can be attributed to Biden’s consistent opposition towards cryptocurrencies, which gained prominence following his veto of the repeal of Staff Accounting Bulletin 121, or SAB 121.
The examination of cryptocurrency companies by SEC Chairman Gary Gensler is influencing President Joe Biden’s stance on this issue during the upcoming election. Mark Cuban, a prominent business magnate, articulated this perspective eloquently when he stated:
“Biden has to choose between Gensler or crypto voters or it could cost him the Whitehouse.”
As a researcher, I’ve come across intriguing information from Reuters about ongoing discussions among senior figures in the Biden campaign, the White House, and the Democratic National Committee, regarding potential changes at the helm of the administration. Specifically, there are reports suggesting that Vice President Kamala Harris could be considered as a replacement for President Joe Biden.
However, dismissing all these speculations, Biden on a recent call with staff, noted,
“I want to make this absolutely clear: I’m participating in this race, not being forced to do so. I’m staying put and committed until the finish line. We’re in this together and we will emerge victorious.”
Things won’t change
Many people contend that swapping Biden for Harris might not result in major shifts. One perspective on this is offered by Isaac Boltansky, the director of policy research at BTIG, who explains:
If President Harris were to take office, the country could expect policies and leadership similar to those of the Biden administration.
As a researcher examining the data from Polymarket’s prediction market, I was surprised to find that Kamala Harris had taken the lead over Joe Biden in the ‘Presidential Election Winner 2024’ poll, despite the lingering doubts and skepticism surrounding her potential candidacy.
But former President Donald Trump still topped the poll.
Impact on memecoins
An intriguing angle for assessing Harris’s capability to succeed Biden can be explored through the behavior of meme coins modeled after them. For instance, the Kamala Harris-inspired memecoin, KAMA, experienced a significant surge of approximately 250% on the Fourth of July.
According to Dex Screener, KAMA experienced a growth of 12.90% over the previous 24 hours. On the other hand, Jeo Boden [BODEN], which was inspired by President Biden, saw a drop of 24.2% during the same time frame.
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2024-07-04 18:15