2024 American Presidential Election: It's D-Day, Who Will Dominate The Vote?

This day marks a historic moment in the United States: Americans decide who will occupy the White House for the next four years. Between Donald Trump and Kamala Harris, the suspense remains. While voters mobilize, another battle unfolds behind the scenes of the elections in the USA: that of donations from the crypto sector, which could well influence the future of financial and political regulations in the country.

The United States plunged into a tense election

On November 5, the tension is palpable in the streets of America like in the crypto market, as citizens rush to the polls to elect their president. With millions of voters already mobilized, the anticipation is at its peak. Between early voting and mail-in ballots, one-third of the electorate has already cast their vote, and the turnout that day is expected to be historic despite mixed weather: heavy rains in the center of the country, and a bright sky on the coasts.

Of crucial importance, this election is also marked by the participation of certain traditional hamlets like Dixville Notch, where, starting at midnight, votes began under the watchful eyes of journalists. Since 1960, this small village isolated in New Hampshire has been closely monitored, having always predicted the presidential outcome.

It is here, and in the strategic “swing states” like Pennsylvania, Georgia, or Arizona, that the victory will be decided. These states, with results always unpredictable, hold 88 electoral votes, a decisive weight to reach the fateful number of 270, necessary to win the elections in the USA.

The victory of crypto: 238 million unprecedented donations

In the financial arena, crypto makes a historic breakthrough in this election. Donations from the cryptocurrency sector have surpassed 238 million dollars, even eclipsing contributions from traditional giants like the oil and pharmaceutical sectors.

This explosive entry of crypto stirs trouble in Washington, where many lawmakers may become more receptive to favorable regulations for digital assets.

The major companies in crypto, such as Coinbase, Ripple, and Andreessen Horowitz, have contributed massively through super PACs. A joint study by Breadcrumbs and FOX Business reveals impressive figures:

• Over 160 million dollars contributed by the biggest players in crypto;
• 22 million for Donald Trump’s campaign, representing more than 50% of crypto donations related to the elections in the USA;
• 12 million in donations for Kamala Harris, mostly from a massive crypto support from Chris Larsen, co-founder of Ripple (XRP).

James Delmore, an analyst at Breadcrumbs, comments: “These contributions clearly show that crypto intends to make a significant impact on American politics.”

This record amount illustrates a willingness of crypto stakeholders to establish themselves as true financial partners for policymakers, while influencing future laws that will regulate this volatile market.

Crypto politics in the USA: the industry facing criticism

This rise of crypto in the political sphere naturally invites criticism. Some observers see it as a attempt to manipulate public decisions. Rick Claypool, research director at Public Citizen, warns: “Crypto companies do not hesitate to invest millions to shape American democracy to their advantage.”

The growing influence of these funds on the elections in the USA is being closely watched, as it could lead to regulations that tip the balance in favor of this sector.

Like the Senate race in Ohio, where Republican pro-crypto candidate Bernie Moreno received 40 million dollars from a super PAC supporting this industry, the influence of these donations raises questions.

In light of this massive influx of funds, lawmakers and associations are calling for stricter rules to regulate political contributions, especially in crypto, to preserve the fairness of the electoral process.

In summary, regardless of the election outcome, crypto could emerge strengthened. The importance of these donations may have paved the way for a new political era in the United States, where digital assets play a key role, both for candidates and for the future of the global financial system.

Finally, pro-Trump memecoins seem to be gaining ground against those of Kamala Harris, a surprising trend that could well mirror the outcome of the actual vote.