Crypto is set to be a significant topic in the upcoming US presidential election in November. The SEC's recent approval of spot Bitcoin ETFs and the potential approval of spot Ether ETFs tied to Ethereum have intensified the political involvement around cryptocurrencies.

Crypto-Friendly Trump for the Win?

Ark Invest CEO Cathie Wood announced her intention to vote for Donald Trump, citing economic reasons. Wood, a long-time crypto proponent, praised the economic performance during the first three years of Trump's administration, referencing economist Arthur Laffer's views that this period was the "best in U.S. economic history."

Major Crypto Donations Bolster Trump Campaign

The Winklevoss twins recently donated $2 million in Bitcoin to the Trump campaign, underscoring the growing intersection of cryptocurrency and politics. Trump has expressed strong support for the crypto industry, accepting donations in cryptocurrencies and advocating for crypto, non-fungible tokens (NFTs), and Bitcoin mining in his speeches.

Biden Campaign Also Engages with Crypto

President Joe Biden's campaign is also exploring crypto donations and engaging with cryptocurrency industry players, signaling the rising importance of crypto in the political arena.

Ark Invest's Continued Commitment to Crypto

Ark Invest, known for its early support of crypto, was the first ETF to invest in Bitcoin in 2015 and has continued to expand its investments in crypto-related companies like Coinbase.

Political Funding, Crypto, and More

Cathie's pro-crypto governance stance and the Winklevoss twins' large donation highlight the influence crypto leaders have on political funding strategies. Their support for Trump reflects a trend of industry experts backing political candidates who promise favorable regulatory environments for digital assets.

As November approaches, the war of crypto and politics promises to make the election a pivotal moment for the future of digital assets in the US.