Donald Trump’s announcement of J.D. Vance as his running mate has excited the crypto community, as Vance is known to hold a significant amount of bitcoin. Vance’s financial disclosure revealed that he has between $100,000 and $250,000 worth of BTC, making him the first “bitcoiner” with a shot at the White House.
Federal Election Commission records show that enthusiasm for Vance has spread throughout the crypto community, with prominent figures like Brian Armstrong and Fred Ehrsam, the cofounders of Coinbase, contributing the maximum personal contribution of $6,600 to Vance’s 2028 senate reelection campaign. Vance reported holding his BTC on the Coinbase crypto exchange.
The donations from Armstrong and Ehrsam are part of a larger trend of industry leaders supporting Vance. Ehrsam and Armstrong have given close to $300,000 to various candidates over the past two years, while more than 60 donors from different industries have also contributed comparable sums to Vance’s reelection bid.
Vance’s 2028 senate race war chest currently totals approximately $2.3 million, which could be used for his 2024 campaign or a potential 2028 presidential run if he decides to end his senate reelection bid. The donations suggest that industry leaders have confidence that Vance will be a pro-crypto advocate, which is crucial for the future of the crypto industry.
Armstrong and Ehrsam have demonstrated their support for pro-crypto candidates from both parties, including senators Kirsten Gillibrand, Ted Cruz, and Joe Manchin. Armstrong has voiced concerns about government policy as a threat to the crypto industry and has actively supported candidates who share his pro-crypto stance.
Vance has shown his support for the crypto industry by circulating draft legislation in the senate that aims to relax SEC regulations on the market. He has also spoken out about the importance of crypto in the face of government control over banking, aligning with his populist crusade against the “ruling class” as he described it in a recent convention speech. Vance’s advocacy for crypto is a key part of his political platform.
Overall, Vance’s alliance with the crypto world through his holdings and support from industry leaders like Armstrong and Ehrsam bodes well for the future of crypto-friendly policies. As the potential VP candidate embraces crypto as part of his political platform, the community looks forward to potential changes that could benefit the industry.
