Trump is running for president again after being president twice. He has chosen J.D. Vance, an Ohio senator, to be his running mate in 2024. This choice came as a surprise and was an excellent one. Cryptocurrency users are excited about this pick because experts say Vance could significantly impact crypto policy.
A Manhattan court found Trump guilty of 34 counts. He is now back on the campaign trail. This week, he chose Vance as his running mate. It used to be that Vance didn’t like something, but now he does. This event has gotten a lot of attention from people in the crypto business, who hope it will lead to better rules for them.
Dylan Bane, a business research analyst at blockchain analytics company Messari, talked about Vance’s nomination. “A lot is still unknown in this historic election, but Vance looks good for the crypto industry,” he said.
Polymarket says that Trump is 69% likely to win, while First Lady Michelle Obama is only 19% likely to win. Now that the campaign season has begun, some people have even asked Biden to drop out. Vance will be Vice President of the United States if Trump wins.
Bane discussed how Vance might change the crypto game. He said vice presidents don’t usually make policy, but they can be given side goals to work toward. Bane said Vance could be in charge since Trump knew little about crypto and blockchain. “This is a great area of policy for Vance to lead on,” he said.
Vance is an excellent choice as a critical player in crypto policy because of his background. Coinbase shows that he has between $100,000 and $250,000 in Bitcoin. This makes him the first candidate for president to own Bitcoin. Vance also works hard to get the Senate to pass cybersecurity rules. This plan is better than the one the House passed in May, according to business people.
Crypto Enthusiast Vance’s Background And Market Impact
Vance is 39 years old, which is old enough, and has worked in venture capital before, mainly at Peter Thiel’s Mithril Capital. In the tech-savvy crypto world, these are also good things. Vance has also made it clear that he doesn’t like how US Securities and Exchange Commission (SEC) Commissioner Gary Gensler manages blockchain and crypto, which suggests that he has a more positive view of the business.
The market has done well since these changes have been made. The value of Bitcoin (BTC) has gone up by 3.1% in the last 24 hours, and it is now worth $65,690. It increased by 117% in a year and almost 11% last week.
William Ralston Saul, CEO of Jade City and founder of the crypto boot camp Incrypto Hub, discussed Bitcoin’s price. “The rise in Bitcoin’s price shows that people in the Exchange community are becoming more hopeful about the possibility of better regulatory conditions in the US,” he said.
Many people are happy because Trump might win again, Vance backs cryptocurrencies, and BlackRock was revealed as the most significant public Bitcoin buyer.
As the 2024 elections approach, people in the Exchange world will be sure to watch Trump and Vance. They want rules that will grow the company and help people develop new ideas.
