In a surprising twist, billionaire Mark Cuban has suggested that the 2024 U.S. presidential election between Donald Trump and Joe Biden may ultimately come down to each candidate's stance on cryptocurrency. Cuban, a long-time crypto investor, made the remarks in response to an op-ed piece by crypto lawyer Preston Byrne.

Cuban emphasized that President Biden faces a difficult choice between aligning with U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler on swift crypto regulation or appealing to crypto voters, who could potentially cost him the White House.

Biden has historically sided with Gensler on swift regulation, but has recently shifted his tone amid Trump's vocal promotion of digital assets. Cuban questioned whether either candidate truly understands crypto beyond making money from non-fungible tokens (NFTs).

Trump and his wife, Melania, have been prominent supporters of NFTs, with the former First Lady releasing digital collectibles through her website. Trump recently hosted a gala dinner for purchasers of his "Mugshot Edition" NFTs, shortly before his conviction on fraud charges.

The verdict was met with mixed reactions, with Trump supporters celebrating the outcome and several Trump meme coins experiencing a surge in value. The controversy highlights the growing influence of crypto in the political landscape.

A recent poll from the Digital Currency Group found that 20% of voters in swing states consider digital assets a major political issue when deciding which candidate to support. Additionally, Biden stopped short of vetoing the House of Representatives Financial Innovation and Technology for the 21st Century Act (FIT21), which would grant greater freedoms to blockchain companies amid the country's regulatory uncertainty.

As the election heats up, Cuban's commentary underscores the critical role that crypto is likely to play in the outcome.