The final event of the America Loves Crypto tour took place yesterday in Washington, D.C. as the country counts down to the 2024 election. Speakers including Coinbase CEO Brian Armstrong, ConSensys CEO Joseph Lubin, and Congressman Wiley Nickel (D-NC) addressed the maximum capacity crowd at the Black Cat music venue.
The speakers largely agreed on one idea: the importance of supporting cryptocurrency in America through a concerted bipartisan effort.
In their shared stage appearance, Brian Armstrong and Congressman Nickel noted that they see it as critical to keep and foster cryptocurrency innovation in America.
This importance, for Nickel in particular, is not so solely founded on a belief in the technology, but is ostensibly due to the fact that 20% of American adults own some form of cryptocurrency, a voting block that Nickel thinks ā[has] the ability to sway elections.ā
Nickel added: āIf we want to do things in Washington, itās critically important that we do it in a bipartisan way. If we politicize the issue with one party going into crypto versus another, itās going to poison the well in Washington for a decade.ā
Since Biden took office in 2020, his administrationās SEC, DoJ and DoE (Department of Energy) officials have introduced a fair amount of unwelcome regulatory hurdles. Notably, Nickelās support of cryptocurrency does signal a change of tune for the historically hostile Democratic Party.
āI started coming to DC five years ago, and when I first came here, most people didnāt know what crypto even was,ā said Armstrong. āOne member of Congress asked me: āIsnāt this all some video game or something like that?ā Once they figured out what crypto was over the years, the conversation totally shifted. Now, everybody knows what crypto is, weāre kind of the belle of the ball, the hot topic on everyoneās lips.ā
However, one attendee, an executive at a prominent financial institution who wished to remain anonymous, reflected on the development of crypto-politicking and what they see as under-commitment on the part of the Democratic Party.
In particular, the executive believes that the Biden administrationās veto of legislation overturning SAB 121, which if signed would have allowed highly regulated financial institutions to custody digital assets, was a major wake-up call.
They remarked that the crypto industry, despite raising large amounts of money for campaign contributions, still carries a strong stigma and that policymakers donāt offer the respect this single-issue voter bloc deserves.
The America Loves Crypto tour had been focused on addressing the stigma with a mixture of live music and grassroots community building. Alex Pall and Drew Taggart, otherwise known as The Chainsmokers, closed out the event, entertaining the crowd with their classic hits, unreleased music, and most notably a cry of āF$*# Gary Gesnlerā. The Chainsmokers themselves are no strangers to cryptocurrency and founded the tech and crypto-focused Mantis Venture Capital fund in 2020.
With stops in Arizona, Nevada, Michigan, Wisconsin, Pennsylvania and Washington, D.C., many in attendance on the America Loves Crypto tour were hopeful that more than 1.4 million Stand With Crypto advocates nationwide can flex their muscle as a true deciding factor in November.
Full story here:
The speakers largely agreed on one idea: the importance of supporting cryptocurrency in America through a concerted bipartisan effort.
In their shared stage appearance, Brian Armstrong and Congressman Nickel noted that they see it as critical to keep and foster cryptocurrency innovation in America.
This importance, for Nickel in particular, is not so solely founded on a belief in the technology, but is ostensibly due to the fact that 20% of American adults own some form of cryptocurrency, a voting block that Nickel thinks ā[has] the ability to sway elections.ā
Nickel added: āIf we want to do things in Washington, itās critically important that we do it in a bipartisan way. If we politicize the issue with one party going into crypto versus another, itās going to poison the well in Washington for a decade.ā
Since Biden took office in 2020, his administrationās SEC, DoJ and DoE (Department of Energy) officials have introduced a fair amount of unwelcome regulatory hurdles. Notably, Nickelās support of cryptocurrency does signal a change of tune for the historically hostile Democratic Party.
āI started coming to DC five years ago, and when I first came here, most people didnāt know what crypto even was,ā said Armstrong. āOne member of Congress asked me: āIsnāt this all some video game or something like that?ā Once they figured out what crypto was over the years, the conversation totally shifted. Now, everybody knows what crypto is, weāre kind of the belle of the ball, the hot topic on everyoneās lips.ā
However, one attendee, an executive at a prominent financial institution who wished to remain anonymous, reflected on the development of crypto-politicking and what they see as under-commitment on the part of the Democratic Party.
In particular, the executive believes that the Biden administrationās veto of legislation overturning SAB 121, which if signed would have allowed highly regulated financial institutions to custody digital assets, was a major wake-up call.
They remarked that the crypto industry, despite raising large amounts of money for campaign contributions, still carries a strong stigma and that policymakers donāt offer the respect this single-issue voter bloc deserves.
The America Loves Crypto tour had been focused on addressing the stigma with a mixture of live music and grassroots community building. Alex Pall and Drew Taggart, otherwise known as The Chainsmokers, closed out the event, entertaining the crowd with their classic hits, unreleased music, and most notably a cry of āF$*# Gary Gesnlerā. The Chainsmokers themselves are no strangers to cryptocurrency and founded the tech and crypto-focused Mantis Venture Capital fund in 2020.
With stops in Arizona, Nevada, Michigan, Wisconsin, Pennsylvania and Washington, D.C., many in attendance on the America Loves Crypto tour were hopeful that more than 1.4 million Stand With Crypto advocates nationwide can flex their muscle as a true deciding factor in November.
Full story here:
![[DK]](/data/avatars/s/57/57999.jpg?1720990206){kind=avatar}
